negative interest rates

[AAAlphaThunder]

Another question will be What happens to Premium bond prizes with a negative rate?
Will we be sending them money?

I'm sure they would be open to the proposition.

[planteria]

..every month one lucky 'investor' has to find a million to send them.

[AAAlphaThunder]

..every month one lucky 'investor' has to find a million to send them.

How times have changed.

[expressman33]

Email just received from Tesco Bank

We’re making some changes to your Tesco Bank Current Account agreement which will take effect from 22 September 2020, or two months after receiving this notice, whichever is later. You don’t need to do anything, we’re just writing to let you know. For full details click the following link, tescobank.com/ca-nov.

We recommend that you print, save or download a copy of the “Changes to our Agreement” for future reference. You can also find your full Terms & conditions and Rates & fees at tescobank.com/ca-terms.

The interest rate on your current account is changing

During March 2020 the Bank of England decreased base rates from 0.75% to their lowest ever level of 0.10%.

Given this significant change to the base rate we’ve reviewed our current account interest rate and made the decision to reduce this to 0%. This means from 22 September 2020 you won’t earn interest. You’ll still earn your current rate of 1% AER on eligible balances up to £3,000 until then.

[AAAlphaThunder]

At least they didn't take the interest rate below zero.

[planteria]

i'm well out of TescoBank now.. the only connection is using a closed TescoBank debit card as a clubcard for fuel.

[AAAlphaThunder]

i'm well out of TescoBank now.. the only connection is using a closed TescoBank debit card as a clubcard for fuel.

Every Little Helps

[Richard Frost]

i'm well out of TescoBank now.. the only connection is using a closed TescoBank debit card as a clubcard for fuel.

Every Little Helps

Off topic.