M&S Bank slashes interest rate on its regular savings account from 5% to just 2.75%

Money, investing, mutuals etc
macliam
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Re: M&S Bank slashes interest rate on its regular savings account from 5% to just 2.75%

Post by macliam » Thu Nov 21, 2019 11:26 am

expressman33 wrote:
Thu Nov 21, 2019 10:05 am
macliam wrote:
Thu Nov 21, 2019 9:38 am
UK banks generally don't charge for a current account....
Years ago you could get interest on a current account. Most firms insist on paying wages into a bank account so if you get charged you should be able to insist on being paid in cash.
Years ago you got well-above-inflation interest on savings too..... :roll:
Years ago there were "free" cashpoints everywhere.....
Government intervention to "save" the banks has scuppered all that - now you're expected to thank the banks for "looking after" your money.
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Re: M&S Bank slashes interest rate on its regular savings account from 5% to just 2.75%

Post by Sarah » Fri Apr 03, 2020 3:21 pm

macliam wrote:
Thu Nov 21, 2019 11:26 am
now you're expected to thank the banks for "looking after" your money
We're getting ever closer -- recently seeing notifications of savings account rates (e.g. First Direct Savings Account) dropping from terrible 0.10% to abominable 0.01% (a hundredth of a percent). Next step down... a thousandth of a percent or they start charging savings fees!?

In the meantime M&S Bank regular saver is still paying a generous 2.75% today! :thumbup:

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Re: M&S Bank slashes interest rate on its regular savings account from 5% to just 2.75%

Post by AAAlphaThunder » Fri Apr 03, 2020 5:46 pm

Sarah wrote:
Fri Apr 03, 2020 3:21 pm
macliam wrote:
Thu Nov 21, 2019 11:26 am
now you're expected to thank the banks for "looking after" your money
We're getting ever closer -- recently seeing notifications of savings account rates (e.g. First Direct Savings Account) dropping from terrible 0.10% to abominable 0.01% (a hundredth of a percent). Next step down... a thousandth of a percent or they start charging savings fees!?

In the meantime M&S Bank regular saver is still paying a generous 2.75% today! :thumbup:
Reliable as ever M&S.
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