Charter Savings Bank
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Keep an eye on new issue rip-off
I have an online Easy Access Cash ISA. Charter regularly launches new issues of the same account. It then cuts rates on old issues. This means existing customers get poorer rates than new customers. To switch to a new issue you have to use online banking to open a new isa account and then transfer funds across yourself. All this means having to constantly monitor new issues and repeatedly switch which is a huge admin hassle. Charter obviously hope you won't bother so they can rip you off. FCA guidance says this type of practice is more likely to breach the Consumer Duty so why is Charter persisting with this sludge practice? AVOID