"Centre Parting" wrote in message
...
Well, he's right. It IS a variable rate - just like a variable rate
mortgage.
You're happy to profit from your investment while the market's high - but
now it's fallen, you're blubbing like a baby.

Do you have difficulty understanding English? He's not complaining about them
cutting the rate, he's complaining about them not telling him they've cut the
rate.

--
Andy

"Andy Pandy" wrote in message
...

"john decker" wrote in message
...
I heard on the radio early thursday morning that Barclays Bank have cut
their interest rates on their ISA's from about 4.0% to 0.1% without
telling
anyone.

Luckily its painless to get some forms from the Building Society next
door
and they do all the work transferring the account and are paying thirty
times as
much interest.

When I went into Barclays and complained about changing the interest
rates
without telling anyone. He said with a smirk on his face; " It's a
variable
rate, sir ". Do they teach them to reply with answers like that ?

You should have pointed the patronising git at the banking code, which
Barclays
are signed up to:

http://www.bankingcode.org.uk/pdfdoc..._CODE_2008.PDF

See section 4.8. Clearly they did drop their interest rate significantly
wrt the
BOE rate, and so should have told you. Unless you have less than £250 in
the
account. Send them a complaint:

http://ask.barclays.co.uk/help/day2d...g/banking_code
Andy

Thanks to all except that mearkin. what would be the point of sending a
complaint? I would think they full well know what they are about..

BigGirlsBlouse added these comments in the current discussion du
jour ...


National savings have been doing that for months... till income
bonds paid next to nothing..and thats gross paid.
But this week I received a postal notification that their rates
on income bonds were rising!
...still to compensate at least Ill be paying less tax!... since
the government owns both NS and HMIR

What part of "it's their business to run as they please" don't you
people understand?! Absent some bull**** Socialist crap in places
like the UK, private companies whether privately held, publicly held,
government regulated to some extent or not are free to raise and
lower interest rates on their savings accounts - IF the contract you
agreed to when you opened the account gives them authorization to do
so.

Depending on whether the account is an ordinary savings, checking, CD
or many other types, the "fine print" may say that the interest rate
is locked in for a specified period of time. This is typical for
longer term accounts like CDs, but MAY allow for an initial "teaser"
rate to go away after 3-6 months or under other conditions.

It is ALWAYS a good idea to read ALL contracts that you either sign
with a bank or tacitly "agree" to simply by opening the account,
e.g., they have a brochure that describes this sort of thing.

So, friends, as the international, national or even regional interest
rates rise and fall due to bank competition, special offers, and
government monetary policy changes, your rate can and almost always
WILL change over time. Right now in the US, ordinary "passbook"
accounts or interest-bearing checking accounts are down around 0.2%,
maybe 0.3%. What do you expect, 15% like during the Jimmy Carter
"stagflation" years?

It is exactly the stupidity of buyers of so-called sub-prime
mortgages NOT reading their ARM contracts that caused the global
economic meltdown by deluding the stupids of the world to buy more
house than they could really afford when they had no clue as to how
an ARM works. So, either RTFC or talk to your local Socialist
government official, either way, you get what you asked for.

--
Jerry, aka HP

"If you are out of work and hungry, eat an environmentalist" -
Florida billboard

Andy Pandy added these comments in the current discussion du jour
....
You should have pointed the patronising git at the banking code,
which Barclays are signed up to:

http://www.bankingcode.org.uk/pdfdoc..._CODE_2008.PDF

See section 4.8. Clearly they did drop their interest rate
significantly wrt the BOE rate, and so should have told you.
Unless you have less than £250 in the account. Send them a
complaint:

http://ask.barclays.co.uk/help/day2d...g/banking_code

Why don't you dumb ass Limeys go found your own NG? I really get
tired of you Socialists complaining about all the perceived
injustices in your world of stupid and lazy people being subsidized
by the inteligent and hard working.

--
Jerry, aka HP

"If you are out of work and hungry, eat an environmentalist" -
Florida billboard

Andy Pandy added these comments in the current discussion du jour
....

Well, he's right. It IS a variable rate - just like a variable
rate mortgage. You're happy to profit from your investment
while the market's high - but now it's fallen, you're blubbing
like a baby.

Do you have difficulty understanding English? He's not
complaining about them cutting the rate, he's complaining about
them not telling him they've cut the rate.

NO, he IS complaining about the rate cut that HE agreed to when the
account was open. Absent any specifics in the account boilerplate
contract or governmental regulations on notifications of credit card
interest rate rises or fee increases OR interest rate declines on
savings account, the bank can damn well change it WITHOUT telling you
anything. Get a life - and read your contracts!

--
Jerry, aka HP

"If you are out of work and hungry, eat an environmentalist" -
Florida billboard

"HEMI-Powered" wrote in message
...
Andy Pandy added these comments in the current discussion du jour
...

Well, he's right. It IS a variable rate - just like a variable
rate mortgage. You're happy to profit from your investment
while the market's high - but now it's fallen, you're blubbing
like a baby.

Do you have difficulty understanding English? He's not
complaining about them cutting the rate, he's complaining about
them not telling him they've cut the rate.

NO, he IS complaining about the rate cut that HE agreed to when the
account was open.

What part of "without saying anything" and "without telling anyone" do you have
difficulty understanding?

Absent any specifics in the account boilerplate
contract or governmental regulations on notifications of credit card
interest rate rises or fee increases OR interest rate declines on
savings account, the bank can damn well change it WITHOUT telling you
anything. Get a life - and read your contracts!

The contract says it's covered by the banking code. The banking code says they
have to tell you of significant cuts. Now **** off and learn to read.

--
Andy

"john decker" wrote in message
...

"Andy Pandy" wrote in message
...

"john decker" wrote in message
...
I heard on the radio early thursday morning that Barclays Bank have cut
their interest rates on their ISA's from about 4.0% to 0.1% without
telling
anyone.

Luckily its painless to get some forms from the Building Society next
door
and they do all the work transferring the account and are paying thirty
times as
much interest.

When I went into Barclays and complained about changing the interest
rates
without telling anyone. He said with a smirk on his face; " It's a
variable
rate, sir ". Do they teach them to reply with answers like that ?

You should have pointed the patronising git at the banking code, which
Barclays
are signed up to:

http://www.bankingcode.org.uk/pdfdoc..._CODE_2008.PDF

See section 4.8. Clearly they did drop their interest rate significantly
wrt the
BOE rate, and so should have told you. Unless you have less than £250 in
the
account. Send them a complaint:

http://ask.barclays.co.uk/help/day2d...g/banking_code
Andy

Thanks to all except that mearkin. what would be the point of sending a
complaint? I would think they full well know what they are about..

They might offer you a "goodwill gesture".

--
Andy

"HEMI-Powered" wrote in message
...
Andy Pandy added these comments in the current discussion du jour
...
You should have pointed the patronising git at the banking code,
which Barclays are signed up to:

http://www.bankingcode.org.uk/pdfdoc..._CODE_2008.PDF

See section 4.8. Clearly they did drop their interest rate
significantly wrt the BOE rate, and so should have told you.
Unless you have less than £250 in the account. Send them a
complaint:

http://ask.barclays.co.uk/help/day2d...g/banking_code

Why don't you dumb ass Limeys go found your own NG?

What do you reckon the uk in "uk.finance" and "uk.d-i-y" stands for? You a
septic I guess?

I really get
tired of you Socialists complaining about all the perceived
injustices in your world of stupid and lazy people being subsidized
by the inteligent and hard working.

Ha ha! Your new president is more socialist than our government, and we're
getting rid of them soon. And your previous ones - what kind of brain dead
government passes the Communities Reinvestment Act which forced banks to make
subprime loans? That's more socialist than anything our governments have done in
the last 30 years.

--
Andy

"john decker" wrote in message ...
I heard on the radio early thursday morning that Barclays Bank have cut
their interest rates on their ISA's from about 4.0% to 0.1% without telling
anyone.

Luckily its painless to get some forms from the Building Society next door
and they do all the work transferring the account and are paying thirty
times as
much interest.

When I went into Barclays and complained about changing the interest rates
without telling anyone. He said with a smirk on his face; " It's a variable
rate, sir ". Do they teach them to reply with answers like that ?
DUH

Andy Pandy wrote:
"john decker" wrote in message
...
I heard on the radio early thursday morning that Barclays Bank have cut
their interest rates on their ISA's from about 4.0% to 0.1% without telling
anyone.

Luckily its painless to get some forms from the Building Society next door
and they do all the work transferring the account and are paying thirty
times as
much interest.

When I went into Barclays and complained about changing the interest rates
without telling anyone. He said with a smirk on his face; " It's a variable
rate, sir ". Do they teach them to reply with answers like that ?

You should have pointed the patronising git at the banking code, which Barclays
are signed up to:

http://www.bankingcode.org.uk/pdfdoc..._CODE_2008.PDF

See section 4.8. Clearly they did drop their interest rate significantly wrt the
BOE rate, and so should have told you. Unless you have less than £250 in the
account. Send them a complaint:

http://ask.barclays.co.uk/help/day2d...g/banking_code

--
Andy



Hidden in the conditions most banks etc tell you how they will advise
you of interest rate changes and when.
For some changes are poorly advertised and often notification is some
time after the change.
I check rates for my accounts monthly. Eg. Egg have recently lost one of
my cash ISAs ISA having issued a new account at 2.5% and cut the rate on
my slightly older account to 1.55%