Nationwide - stability/security

amethystcash

Does anyone think that the Nationwide is having difficulty more than any other financial institution at the moment or are the poor interest rates just a sign of the times currently.

We have historically always had our savings with them as their rates have been pretty competitive and we have always had excellent customer service with them.

Now we are not just concerned about the poor interest rates but starting to feel that they may actually be struggling and that its time to move money elsewhere, just in case.

What does everyone think?

labp04

My reading is that when an institution offers "good rates" then that is a sign that they may be trying to attract cash and may therefore be said to be "struggling". Conversely, when an institution is offering "poor rates" this is often a sign of confidence in that they do not feel the need to attract cash. Mind you, who knows what's going on in the current climate.

With regards to moving savings reckon that's a personal choice but guess the "advice" is the same and never save more that the £50k with any one banking group.

wombat42_2

Being a building society, and by far the largest, they are perceived as about the safest place to park your dosh. That is why they are deluged with new money coming in so they can get away with poor interest rates.

cos69

The low interest rates at Nationwide are an indication that they do not need new funds because of a lack of borrowers wanting mortgages. That might indicate their interest rates could stay low and uncompetitive for some time