Martin Lewis has issued a warning to Santander customers and bank account holders as the bank is set to cut the rate on its popular easy-access savings account
Martin Lewis has sounded the alarm for Santander customers, advising them to consider moving their money following a significant change. The financial guru and host of the BBC Sounds podcast, as well as ITV 's The Martin Lewis Money Show, took to Twitter to share his thoughts.
Mr Lewis expressed his initial reaction: "When I first heard this was happening I thought, 'how annoying! ' I'd hoped this account would keep the stellar rate for the full term, though there was never a guarantee and then it decided to slash it." He continued, highlighting the benefits of such accounts despite the cut: "Having said that, for most of the past few months it's been higher than any other easy-access account rate and the big advantage of choosing variable easy-access accounts like this is that, if they do let you down and ditch the very high rate, you can ditch them just as quickly and switch elsewhere."
A Twitter user responded to the Money Saving Expert founder's comments: "The article says Santander can make the change as long as they give the required 2 months notice. I only got the email last week so less than a month. Is that a typo in the article, or have they breached their TandC's with me? ".
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