Does your bank inform you by letter or email of rate changes?
I had a ufirst savings account with UB for years and only recently became aware that the interest rate was reduced to below 0.25%. I phoned the branch and they said that it was not bank policy to inform individual customers of rate changes. It is done by notices in the national papers.
Ive set up a UB esaver acccount and they have reassured me that I will be informed by email and letter of rate changes.
It might be interesting to produce a list of banks and accounts who indulge in this sneaky practice! (syestmatically reducing rates with only ads in the national newspapers)
I had a ufirst savings account with UB for years and only recently became aware that the interest rate was reduced to below 0.25%. I phoned the branch and they said that it was not bank policy to inform individual customers of rate changes. It is done by notices in the national papers.
Ive set up a UB esaver acccount and they have reassured me that I will be informed by email and letter of rate changes.
It might be interesting to produce a list of banks and accounts who indulge in this sneaky practice! (syestmatically reducing rates with only ads in the national newspapers)