Alliance & Leicester Esaver

  Terry Brown 14:30 04 Dec 2008

Have you, like me, opened a Esaver account with alliance, paying 6.5% ( when It opened a few months ago).
It has now dropped to 3.23% (December 1 2008).
They have opened Esaver 2 , paying 5%-- but for how long?

my reaction- I am dropping them.

It works both ways.

  The Brigadier 14:40 04 Dec 2008

Investments go up & down sadly.

  Clapton is God 14:49 04 Dec 2008

You can't blame the A & L .

In case you hadn't noticed Base Rate has been dropping like the proverbial stone recently - as it did again today - and this account is linked to Base.

If you have to blame anyone, blame the Chancellor (or the Bank of England).

  Pamy 15:01 04 Dec 2008

I bet you cant do better after today

  Pine Man 15:17 04 Dec 2008

What you want is a fixed rate savings account but then I suppose you will complain if interest rates go up;-))

  BT 16:55 04 Dec 2008

Same on Barclays
ESaver Reward including bonus down from 6%+ to 3.18% if I make no withdrawals, 1.14% if I do.

  oresome 17:13 04 Dec 2008

This practise of hooking you on a rate or tariff and then allowing it to become uncompetitive is rife.

I'm on an on-line tariff with e-on and it's the 17th version! There's probably another two or three been introduced since.

I quit Ing because having started off with one simple rate for everyone, they then introduced complexities* and rate tiers etc.

*Existing account holders were offerd a second account with enhanced interest rates in order to stem the flow of mass defections.

  iscanut 17:30 04 Dec 2008

As Base Rate is now 2%, you will be lucky to get 3% or more on variable rate deposits. Some of my accounts are still at 6% (Tesco) & 5.5% (Newcastle) but I am sure these will come down soon. No point in complaining !

  oresome 17:35 04 Dec 2008

There's every point in complaining!

If all the savers feel that they might as well withdraw their cash, we'll see how the banks cope then!

  ronalddonald 22:12 04 Dec 2008

the financial institutions will do exactly in Mary Poppins stop all payments! if they notice that all the money is being withdrawn or they introduce new terms like increase the notice of withdrawal.

Now i know what happened to my nationwide tracker fund and now i know how worthless it is.

So after Barrack is gone will there be another president looking to start another war, seems odd how recessions start.Two bushes created war and started recessions along the way.

But even if i make comments like this no one will dare say the bush policies have created economic problems around the whole globe.

  flycatcher1 22:16 04 Dec 2008

Politics on Consumerwatch ? Whatever next !

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