ISA and savings reminder

[RogerS]

I'm sure you guys are switched on and have already checked but now is the time of year that all those nice cuddly morally-impeccable financial institutions start slashing all those nice 'introductory' bonus rates from any savings or ISA's you may have taken out this time last year. From that 3.5% down to a meagre 0.5% or worse.

I'd rather have 3.5% of diddly-squat than 0.5% of diddly-squat.

 

[misterfish]

Good advice. We have our retirement nest egg split between a few accounts and it is a constant juggle to move money to accounts with a less poor rate of interest. I've set up my Outlook calendar to warn me a few weeks before the rates drop which gives me enough time to research suitable new accounts.

Misterfish

 

[tsb]

I've done the shifting around for the better interest rate on my meager savings and the bank I've shifted my isa to this year have lost it for the last 3& 1/2 weeks and they have also lost my letter of complaint.

 

[RogerS]

I've done the shifting around for the better interest rate on my meager savings and the bank I've shifted my isa to this year have lost it for the last 3& 1/2 weeks and they have also lost my letter of complaint.

Which I hope you sent recorded. OK...what you need to do get things sorted (and get a tadge of compensation) is to write a Formal Complaint. Those are the magic words. They automatically put your letter into the formal complaints procedure monitored by the FSA and to which the bank has to adhere to. There are strict time limits and if these are not met then you can kick off the next route via the Financial Ombudsman...believe me, it is worth it.

Although payment had been sent in full by my mother via a cheque, this did not stop Barclaycard from taking the same (over a grand) by direct debit a few days later. She now has her money back and £50 compensation.