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29 May 2016 @ 12:07 am
Okay that's weird  
I've been shopping around tonight, looking at various savings accounts on offer, and at the last minute went back to my current bank (where I used to work) to see the rates applicable to my current accounts. My power saver rate comes up at 2.80% while my direct saver shows 3%pa. Thing is, when I click on the link to bring up the actual rate chart for grandfathered (no longer offered) accounts, both of these types of account show as earning 0.50%pa. That's a huge difference. I'm thinking that the rate chart is probably the correct one, backed by my quick calc of interest earned on each - but why are my own accounts labelled with such a higher rate? I need to ring up to clarify this *sigh* there's another hour of my life gone....

Once you start comparing different banks it gets so confusing, though. This one offers a base of 1.75% with bonus up to 2.90%pa for the first four months (good investment home loan rate, really low fees), another offers 2.35%pa with bonus up to 2.80%pa for first three months (but their investment home loan rate is awful); another offers 3%pa provided you maintain a minimum balance of $2000 in linked transaction account while yet another offers 3.35%pa provided you make at least one purchase per week with the linked transaction account's debit card (too much mucking about). Why do they have to make it so hard?!

God I hope everyone else's Saturday night is a bit more awesome than this....

Although I did have an interesting night, earlier - went to the pub for dinner with a friend, followed by a trip to a little shop that sells Turkish stuff. I felt like a kid at Christmas, walking into the shop - managed to restrain myself so far, only buying a large bolster / cushion for my lounge, a couple of coasters, gorgeous tile house numbers for my house, and an owl. I will be going back within the next couple of months, for a new hallway runner and a light for my loungeroom. I could have spent a fortune tonight!
 
 
Current Mood: aggravatedaggravated
 
 
Spencer's Journalspencer5460 on May 28th, 2016 09:02 pm (UTC)
They make banking complicated because they can. They want to intimate the consumer so we all just give up and say "whatever!"
miwahni: JB Decisions Rock paper scissorsmiwahni on May 30th, 2016 11:28 am (UTC)
Having worked in banking for pretty well all of my working life... they're all trying so hard to differentiate themselves from one another, that all they end up doing is confusing the hell out of the poor customer.