Smart move
The bank Intelligent Finance (IF) has just sent me a letter telling me in effect that I am a mug for continuing to bank with them. IF was a pioneer of internet banking, but was never really embraced by its original owners Bank of Scotland, still less by Halifax, and not at all by Lloyds.
As a result, its innovative approach was whittled down rather than being enhanced.
The letter tells me that the reduction in the rate of interest on my account is due to a ruling of the European Commission.
That is nonsense. There were other options,
Lloyds could have boosted Intelligent Finance in order to sell it off at a healthy price. Instead they chose to run it into the ground. The letter suggested I should switch to TSB. Far be it for me to suggest where the heads of Intelligent Finance may be heading next.
Hamish Dewar
Craiglockhart Grove
Edinburgh