More but less

Further to my comments about ING Direct (28th July), the Coventry building society is extending the bonus on its Poppy Online Saver account; but the new interest rate will go down from 3.15% to 2.8% and the bonus will last for 9 months instead of 12. So it looks like the banks and building societies are getting in a bit of stinginess in anticipation of the Bank of England base rate dropping below 0.5%. It’s a clear case of: “Screw the customers, they don’t have a better hole to go to!”