When I opened my ISA in April, I was hoping that it would be a short term relationship with the bank I opened it with and soon the rates would go up elsewhere. Sadly that has not happened and I am wondering if I will ever start getting a decent return on the money I invest.
Using the Santander 123 account, I am getting something back, but even they are planning to put their monthly fee up to £5 meaning that another £2 is being lost. At the moment it is still worth it, but for how long? They are also putting up the fee on the credit card and for me this will be a problem as I just about break even. An additional £1 could mean it is not worth my while staying with them.
For years interest rates have remained low, and it always seems that there is the press release that they will be rising again soon but it does not happen. Many pensioners have relied n the money their saving earn to top up their income and for too long they have lost out. Borrowers may be doing well but what about the savers? When will it be our turn? Hopefully Mark Carney will have some good news in the near future and we will see our accounts increase in a decent way.
Now that the little rant is over, I can go back and see if anywhere else is offering a good rate and I can make a transfer as soon as possible. If anyone hears of a good rate being offered by a reputable bank can you let me know. I am going to be around for some time.