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

[macliam]

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.....
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.

[Sarah]

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!

[BeautifulSunshine]

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!

Reliable as ever M&S.

[planteria]

https://bank.marksandspencer.com/save-i ... hly-saver/

it's still there, but not sweet enough for me.