4 July 2006

LLoyds TSB Should Be Of Interest To No One

You can see the adverts everywhere now, such as this one near Haymarket. "Don't get caught out by your bank" and "We pay interest from the day you put the cheque in your account". Hmm. Only a maximum of £1000 in cheques per month. Double hmmm. 0.1% interest - WTF? That's two whole percentage points *less* than that rate of inflation! I'm actually losing money by having my account with you (if I was stupid enough to do). Rule Number C (not in numerical order): If it is advertised on a thirty foot billboard then it's not going to be very good, it'll be a cheap marketing ploy. Avoid any bank that pays less than 2% interest on your current account or you are losing money. Try somewhere like the ethically guided Co-operative Bank (including Smile) or even HSBC's First Direct amongst others.

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