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Re:Banks are slow to increase rates on savings accounts, but... by ricardo81 on Saturday July 25, 2020 @08:42AM (#23948765)
From my limited experience, they're good at offering an enticing savings rate but a year or two later will whack it down close to nil. They're playing the same game as utilities and insurance, after a year or two your benefits shrink or your costs go up.

Examples, had a 2% interest rate "ISA"-like account and it went down to 0.01%. Home insurance doubles in 10 years through lack of changing it.

Switching all our services yearly is a time suck and they know it.

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