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Slightly dubious finance
It seems that Birmingham Midshires, part of Halifax, part of the HBOS group, is a bunch of bankers.
They seem annually to invent a new sort of savings account, with a name very similar to their previous sort of savings account and a reasonable headline rate; the financially credulous such as myself assume that the account they had already now pays the new rate.
In fact, it turns out that I have a 'Birmingham Midshires Internet Easy Access Issue 6', which pays 5.8%. What they offer on the front page is a 'Direct Internet Savings Account', which pays 6%. There is a limited amount that it's worth worrying about twenty basis points (and I might as well worry about forty-five and move to Sainsbury's Bank), but I feel I should bank with people who don't try to pull that kind of fast one.
Of course, possibly banks which act always in the best interests of their depositors tend not always to give their depositors the best available interest; also, whilst I don't think the present turmoil is the kind of thing that will break savings rather than investment banks, perhaps moving my life savings around during a liquidity crisis is not pure wisdom.
They seem annually to invent a new sort of savings account, with a name very similar to their previous sort of savings account and a reasonable headline rate; the financially credulous such as myself assume that the account they had already now pays the new rate.
In fact, it turns out that I have a 'Birmingham Midshires Internet Easy Access Issue 6', which pays 5.8%. What they offer on the front page is a 'Direct Internet Savings Account', which pays 6%. There is a limited amount that it's worth worrying about twenty basis points (and I might as well worry about forty-five and move to Sainsbury's Bank), but I feel I should bank with people who don't try to pull that kind of fast one.
Of course, possibly banks which act always in the best interests of their depositors tend not always to give their depositors the best available interest; also, whilst I don't think the present turmoil is the kind of thing that will break savings rather than investment banks, perhaps moving my life savings around during a liquidity crisis is not pure wisdom.
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I'd go for Nationwide E-savings, who are consistent. They, and M&G, are the 2 financial institutions I've found to be excellent.
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