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General Category => General Discussion => Topic started by: ideasguy on February 24, 2014, 08:19:45 PM

Title: New Interest Rate - Bank of Scotland
Post by: ideasguy on February 24, 2014, 08:19:45 PM

I received this letter today, and read in disbelief.

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Dear Mr Kelly
We are writing to let you know that we are reducing the rate of interest on your deposit account.
... We have shown your account and your current and new interest rates in the table below

Current Interest Rate AER%	New Interest Rate AER%
0.10%	0.05%

Just to make sure, I checked on Wiki as to what a Deposit account actually is.

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A deposit account is a savings account, current account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn

Wow! Some savings account!
It was opened automatically when I applied for a Business account with BOS.
Needless to say, I have resisted the temptation to use that account for my savings ;D

Should we have a whip around? It looks like they are finding it tough ;D

Title: Re: New Interest Rate - Bank of Scotland
Post by: Pensioner on February 25, 2014, 09:56:07 AM

I always thought BoS were strange!  Why would a Scottish bank sponsor Leinster Rugby, which they did until a couple of years ago?  (Now it's the Bank of Ireland, much more logical.)  As an ex-HSBC employee I cannot possibly comment anout the rates.

I used to be a banker but then I lost interest...

Title: Re: New Interest Rate - Bank of Scotland
Post by: ideasguy on February 25, 2014, 05:00:54 PM

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I used to be a banker but then I lost interest...

Very punny Richard  ;D
I haven't actually lost interest yet (even that account is still more than 0%) but I'm not accumulating much either :D