I have an Abbey "Instant Access Saver" - which I opened in June. I thought the interest rate was 6.5% including a 1% "bonus".
I had never been told of an interest rate change.
I noticed that they were advertising an "Instant Access Saver (Special Issue 2) with only 6%
I phoned them to ascertain the difference between the new one and the old one - I was told there was no difference. I asked what was the interest rate on mine - I was told that it was 6.3%.
I then went back to web-site and had a root round - for correct interest rate for mine - (ie not Special Issue 2) - couldn't find.
Phoned again - asked what difference was between the accounts - told there was no difference and that interest was the same ie 6.0% : 5% plus a 1% bonus which were BOTH variable.
(I knew that basic rate was variable - but I had expected to be told when it varied - also I thought that the 1% bonus was fixed - perhaps I hadn't read small print)
Went in to branch today to check.
Told that interest rate was 6.3% - I asked the assistant to write that on my statement - date and initial it. She refused.
I asked if she had historic interest rates and could she confirm rate when I opened it - she went away to get them - and then came back and said she didn't have them - but the interest rate on my account was
6.0%!!!!
I told her I would close account - 35k - she told me I must queue (behind ten other people) and I would be given a cheque. I said could I have a bank transfer to my Co-op Bank account : no!!
Well goodbye to the Abbey - when I close it tomorrow and I am asked what I am going to do with the money - it could be for a sex change - or to move it to a professional Banking organisation - I haven't decided yet!