Just to advise if anybody is plain stupid such as myself. I've just found out that the rate on my online saver with hsbc has dropped to 5.85% from 6.25% - be warned. Keep a close eye on the rates

I noticed this the day they did it…

I like the way they gave us the “heads-up”. I still haven’t received a message from them in my online savings account.

Very stealthy…

I’m now thinking of putting my savings between NS&I’s (RPI) index linked bond and Nationwides fixed rate account. Problem being this will tie them up for a year or more…

Hawk - Is dismal - I dont want to link into a bond either. However Newcastle Bldg Society are paying uh either 6.41% or 6.43% - cant remember which one it is - instant access, but not a fixed rate either.....Becoming difficult to keep various pots of 35K in high interest accounts without locking it in

Down to 5.68 gross now. Are they lowering the rate as more accounts sign up?
Loose about 3% on whole balance for month you make any withdrawal, not just withdrawal amount.
So once they get you in, you get screwed, then you get screwed more when you try and get away.

HSBC wouldn't do this, would they?

Someone I know had also fallen into this trap.

The 'best' seems to be 6 months bonds now from the likes of B&B and West Brom BS. Not so keen on the West Brom one though as their nearest branch to me if 100 miles away along country roads. Not so keen on putting my money into places that don't have a physical presence close by... but then that rules out most of the building societies for me anyhow.

Still don't feel safe about having my money in the B&B though - weighing up whether to open a 6 month bond with them - but I have money in the A&L which, I discovered this week, had dropped my online saver account (I thought I was in an esaver) and I have had to open an esaver account and wait until March 1st before moving my money over... assuming it allows me to do that as even when I was logged on to my online saver with them I had to go and open the esaver separately as if a new depositer.

Maybe it is time to opt for perceived security - i.e. lower rate with HSBC - than chasing higher IRs?