Nothing useful, just a MOAN!

There are better accounts than Santander and they have much better reputations. Look at LLoyds, HSBC, TSB and others. Depending how much you can pay in a month you can get good interest rates and even 4% on savings. It is well worth spending time on the Internet to find good rates. Look at:

https://www.moneyadviceservice.org.uk/en?&ft_keyword=money%20advice%20service&ft_section=e&gclid=COiL27_jycACFdLKtAodWlIAkg

and the comparison websites too.

I have given up on ISAs at the moment as the monthly savings accounts give much better interest even after tax. Depending where you live you can find small local societies which are very good.

It is often better to move your money than stay with the same provider.

Like you ethelbags1 I don't have the luxury of worrying about savings as I don't have any. I do think we should bear I mind though for the interest to rise for savers, it will also rise for those of us (and our children) with mortgages and overdrafts too.

Like you ethelbags1 I don't have the luxury of worrying about savings as I don't have any. I do think we should bear I mind though for the interest to rise for savers, it will also rise for those of us (and our children) with mortgages and overdrafts too.

Like you ethelbags1 I don't have the luxury of worrying about savings as I don't have any. I do think we should bear I mind though for the interest to rise for savers, it will also rise for those of us (and our children) with mortgages and overdrafts too.

My Building Society tried to get me to switch my current account to them but when I showed them the Santander one they agreed they couldn't match it. My bank has a small branch in the next village which is why I tend to stay with them but if they close that branch down I'll switch. Annoyingly I can get money from our village post office but that is under threat of closure. It's so easy to change banks now.

Tegan, your comment "but I like to stick with the bank I've always used"
That was my OHs mantra. He's been with the same bank for ever and a day (unlike me)
I finally persueded him to change to the Santanda 123 a/c. He now thinks it's the best thing since sliced bread.

Well it must be 'spare' money then - whatever you call it, I haven't got it! All Frank's advice was wasted on me...

Not necessarily excess money. Just wanting to be careful and save/spend in sensible measures.

Charleygirl, I know that - isn't it what I said?

As for the 'beauty' of ISAs, well, that's obviously in the eye of the beholder who has excess money to invest...

I make an appointment with my building society every so often and they talk me through the best options [I don't understand it either ]. I'm getting 2.5% at the moment but need to change it in October. I'll just arrange to see them then and sort it out. The chap there moved all sorts of things around a couple of months ago to get me the best rates. Also, if you have a Santander current account you get over 3% on it [or something like that], but I like to stick with the bank I've always used.

Ana that is beauty of ISAs, one does not pay tax on interest gained unless that money is taken from the ISA and eg placed in another savings account.

The bank say that I`m quite welcome to change my account to something more beneficial, but I`m a bit of a thicko about banking, and haven`t a clue what to do. If they don`t hear from me, they`ll just reduce my interest.

Oh dear !!! heres me worrying about my overdraft, glad I don't have savings, or enough to worry about.

Well, I've read it (all of it!) and it still seems that it would only be worth it if you had £7,500 hanging about to invest every year, which I certainly haven't!

But it is best to use your stocks and shares allowance first. You need someone who knows about it though. I couldn't do it myself.

read all of this

And savings add up over the years, if you don't touch them.

You only pay tax on the interest gained, which is next to nothing these days.

Huge? How d'you work that out, jingl?

You'd have to be a very high earner and/or have many thousands in your ISA to save much in tax at all...

Stocks and shares Isas are the best.

Can't really agree that cash Isas are not good. If you leave the amount to build up, the tax savings over the years can be huge.

I agree Grannyknot - we are constantly being bombarded by our bank with exhortations to go in for ISAs, but I worked out that we would gain so little for the amount of hassle that I just leave it all in our online savings account.

I used to empty it into our current account every year and open a new savings account with the the same folks in order to take advantage of the first year bonus, but by the time we have lost a month's interest during the changeover it is worth so little that I have not bothered this year.

My 2 year fixed rate ISA has come to an end and I am so sorry because the interest rate was 3.6%. I thought that rate poor then, it is a miracle now.

My DH and I are busy blowing our savings as they are decreasing in real terms if left where they are. Interest rates are ridiculous when you consider how much credit cards charge in interest.
By the way just spent 40 minutes on phone to SKY trying to cancel contract. They offered to reduce fee by £120 a year. Made me more certain I wanted to cancel.
They are all money grabbers.

ISAs are the most stupid things in the world. The aggravation isn't worth it. Like so many other things they are overcomplicated, unnecessarily.

It's like BT Broadband and their myriad of options, currently offering a "Summer Sale" for new customers only. Why?

The interest rates are laughable - but I console myself that my children's mortgages cost less for them.

Its infuriating- bloody awful Chancellor!