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  • FIRST POST
    • daveoc22
    • By daveoc22 6th May 16, 10:53 AM
    • 205Posts
    • 42Thanks
    daveoc22
    Nationwide Reducing Rate
    • #1
    • 6th May 16, 10:53 AM
    Nationwide Reducing Rate 6th May 16 at 10:53 AM
    Had a letter in the post saying that from June 1st instant access rate on our accounts goes down from 1.4% to 1%.


    Of course I accept that the rate has always been variable, but this seems a massive reduction in one go.


    Time to look around, though no doubt this will get the others reducing their rates as well.
    Waddle you do eh?
Page 6
    • Shanker
    • By Shanker 7th Jun 16, 2:37 PM
    • 92 Posts
    • 34 Thanks
    Shanker
    my 2 main reasons why credit cards shouldn't exist are:

    1) they encourage some people into borrowing money they don't have for unnecessary (or earlier than necessary) consumption. clearly, this doesn't apply to everybody who uses credit cards. and it also applies to some other forms of consumer debt.

    2) the credit card company's fee to the retailer (of 2% or more) is a toll charged by the finance sector on the productive sectors of the economy. i have no problem with a fee for processing transactions, but debit card transactions can be processed for a fee of a few pence. the higher fees for credit card transactions are an unnecessary toll (one of many such tolls which the finance sector has imposed). and most retailers don't charge a supplement for paying with a credit card, which in effect means that the CC toll is paid by all their customers, not just those using credit cards, which is an additional unfairness.
    Originally posted by grey gym sock


    Trouble is, with most web sellers a credit card is the only way to pay, plus you get the extra protection with a credit card that you don't get with a debit card, cheque or cash.


    They have become a necessary evil.


    Yes it is off subject - we need to get back.
    • bowlhead99
    • By bowlhead99 7th Jun 16, 3:09 PM
    • 4,645 Posts
    • 8,149 Thanks
    bowlhead99
    Yes it is off subject - we need to get back.
    Originally posted by Shanker
    Do we though? It is a full calendar month and 3 pages since the original post about Nationwide reducing their rates. What remains to be said?

    By now, presumably people are aware that the rate is reducing and have had ample opportunity to have their say that they are affected by it (not that anyone being affected by it particularly affects you or me or anyone else per se).

    So, it seems natural for the thread to meander off as these things usually do, into complaints that the directors must be bad guys or that they should improve their communication or the organisation should focus its resources on offering good savings rates rather than loan rates or mortgage rates or credit card rates or whether those other products should even be something that Nationwide offer.
    • grey gym sock
    • By grey gym sock 8th Jun 16, 1:40 AM
    • 3,750 Posts
    • 3,147 Thanks
    grey gym sock
    Trouble is, with most web sellers a credit card is the only way to pay,
    Originally posted by Shanker
    i've never found a website that doesn't accept debit cards.

    plus you get the extra protection with a credit card that you don't get with a debit card, cheque or cash.
    a valid point.

    and other minor advantages of credit cards have been mentioned.

    though IMHO they are all much less significant than my 2 points against.


    They have become a necessary evil.
    i've never had 1. nothing dreadful has happened to me as a result.

    (despite my arguments against CCs, not having 1has been more accidental than a matter of principle.)


    Yes it is off subject - we need to get back.
    or we could keep changing the subject until somebody menions hitler (does that count?)
    • roddydogs
    • By roddydogs 8th Jun 16, 8:08 AM
    • 5,746 Posts
    • 2,377 Thanks
    roddydogs
    Watch out with posts like that, the "Spelling/ grammar Police" are about. He(She) knows who he/she is!
    • CapitalGrowth
    • By CapitalGrowth 19th Jun 16, 7:48 PM
    • 1 Posts
    • 1 Thanks
    CapitalGrowth
    What annoys me about Nationwide dropping their rates is the variance by issue (I know they have economic reasons for doing this).

    E.g. Within one product (Flex Cash ISA), Issue X is 1.5%, Issue Y 1.2%, Issue Z 1% - from a customer perspective you would think it should be one interest rate for all issues.
    • eskbanker
    • By eskbanker 20th Jun 16, 12:10 AM
    • 3,413 Posts
    • 3,026 Thanks
    eskbanker
    What annoys me about Nationwide dropping their rates is the variance by issue (I know they have economic reasons for doing this).

    E.g. Within one product (Flex Cash ISA), Issue X is 1.5%, Issue Y 1.2%, Issue Z 1% - from a customer perspective you would think it should be one interest rate for all issues.
    Originally posted by CapitalGrowth
    You wouldn't be saying that if you held issue X in your example and they were harmonising to the lowest rate of the three!
    • intalex
    • By intalex 22nd Sep 16, 8:57 AM
    • 298 Posts
    • 51 Thanks
    intalex
    Nationwide reduce Flexclusive ISA rates again on 01-Sep?
    Seems like the Flexclusive ISA rates have been reduced again effective 1st September 2016, with the highest rate issue reduced to 1.25% and a couple of other issues reduced to 1.05% with all other issues (and the current available issue) at 0.95%.

    I was previously on 1.3% and now down to 1.05%, though I received no advance notice of the reduction.
    • Ed-1
    • By Ed-1 22nd Sep 16, 12:25 PM
    • 1,355 Posts
    • 725 Thanks
    Ed-1
    Seems like the Flexclusive ISA rates have been reduced again effective 1st September 2016, with the highest rate issue reduced to 1.25% and a couple of other issues reduced to 1.05% with all other issues (and the current available issue) at 0.95%.

    I was previously on 1.3% and now down to 1.05%, though I received no advance notice of the reduction.
    Originally posted by intalex
    Which issue's at 1.25%?
    • MDMD
    • By MDMD 23rd Sep 16, 8:21 PM
    • 236 Posts
    • 119 Thanks
    MDMD
    Which issue's at 1.25%?
    Originally posted by Ed-1
    Issue 10 per their interest rate checker

    http://www.nationwide.co.uk/support/support-articles/rates-fees-charges/view-savings-rates
    • Sapphire
    • By Sapphire 25th Sep 16, 6:20 PM
    • 1,746 Posts
    • 3,035 Thanks
    Sapphire
    Seems like the Flexclusive ISA rates have been reduced again effective 1st September 2016, with the highest rate issue reduced to 1.25% and a couple of other issues reduced to 1.05% with all other issues (and the current available issue) at 0.95%.

    I was previously on 1.3% and now down to 1.05%, though I received no advance notice of the reduction.
    Originally posted by intalex
    Same here and no prior warning, which they have always issued in the past. They've also done the same thing with another savings account I have with them. I've complained.
    • Stompa
    • By Stompa 25th Sep 16, 6:34 PM
    • 7,444 Posts
    • 3,580 Thanks
    Stompa
    Damn, it seems they've reduced my rate from 1.10% to 0.85%, also without any warning.
    Stompa
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