February 2002 – The Scarborough has opened a new postal savings account that offers 0.2% gross up to £24,999 and 0.4% gross up to £250,000!!
Our Comment – We hope that not too many people get killed in the rush. However, it is not expected to entice new members. The account is actually another “trick of the trade” for new accounts with terms that will transfer members’ money automatically from their original accounts into this account at maturity. Scarborough directors open new accounts and close existing ones every month so beware.