Your money wont grow here plant it elsewhere
Advantages None for the small investor
Disadvantages Low interest rates on modest accounts
The Author
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30/04/2010
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26/04/2010
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I had been a member of my local building society - The Heart of England ever since I was a little girl and had always been impressed with the way they handled both my mortgage and my modest savings account.
The Heart of England was then taken over by the Cheltenham and Gloucester Building Society. It was one of the first takeovers to make a payout to members so I only got £200 or so, but it was very welcome.
The Cheltenham and Gloucester soon made it plain that they weren't interested in the small investor. If I wanted to pay cash in I had to pay at least their minimum amount as they were trying to discourage cash payments and their interest rates for small investors were a joke.
I moved my savings to my savings account at the bank almost straight away and moved my mortgage to the Brittania Building Society shortly afterwards.
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OKkaraoke 04/02/2004 20:41
ariadne 12/01/2003 14:04
What shoddy treatment you received! I'm glad you voted with your feet, so to speak, and moved accounts.
elspeth334 12/05/2002 00:12
salfforder 07/12/2000 19:02
wulise 04/12/2000 13:37
I have had the opposite experience. My morgage company was brought out by Britannia, we got a pay out of 100 pound and the interest rate went up! I now have my morgage with Cheltham and Gloucester and I am for ever being insentives to increase my savings. I like your opinion though, it is honest.
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