isas

[igie]

I had an isa in the halifax paying 4.6%. On
asking at the branch , I went from 4.6% to
5.55% by changing to isa direct.The question
is are banks not being irresponisble by not informing customers of this, or am I missing
something. Do I get my 4.6% from april to july,
then my 5.55% from august to march 2008.

[dzug]

Well I get interminable junk mail from my bank informing me of new offers. Don't the Halifax do this?

But yes, you will get interest as described.

[mrs_overall]

Banks are in the business of making as much profit as possible and not putting the customers interests first. My building society have the same thing with Isa's and I only found out when I was in the branch and idly picked up a leaflet. They may advertise a higher interest account to drum up new business, but from their point of view why do they need to let the poor mugs, sorry I mean existing customers, know that they could earn more interest and therefore reduce the banks profits?
Banks are a necessary evil unfortunately.

[kempie]

"...I only found out when I was in the branch and idly picked up a leaflet." - in other words the Building Society was keeping its customers aware of the other products on offer.

Looking after your own finances is a purely personal responsibility. As long as financial institutions continue to advertise their product range (be it in the branch, press or on a website) and allow their customers to swap accounts to those which may bring a either a long- or short-term benefit (such as changing from fixed rate to variable rate) then I would suggest that they are acting responsibly.

[Hammer]

I completely agree with Kempie. They do not keep these things secret and are perfectly happy for you to switch if you so desire. Banks are businesses, not charities. Why do people expect special treatment from banks? They are not supposed to look after you, just provide you with a service. And no, I don�t work for one, I�m just fed up with people who can�t control their own finances and look for someone to blame.