Savings alert! Nationwide cut savings rates from 1st March!

ylesia

I've been a customer of Nationwide for nearly 13 years and always sang their praises but it's time for us to part. I used to have most of my savings there and liked the easy to use online banking but their saving rates are just appalling now. When my fixed rate mortgage comes to an end I'm off completely, in the process of switching bank account at the moment, dissapointed really

I'll probably keep the account for using the card in Europe but that's it, if Nationwide want people to stop just using it as a "holiday" account then they should do something about the appalling savings options.

RayWolfe

Don't jump from the frying pan into the fire! You don't have to keep your savings with them if they don't pay well ... but few of the big guys do.

TheMoneyMan

Lansdowne wrote: »

The 3% Fixed rate ISA (and related fixed rate offers) is not a bad rate given the present situation. But as you say, only those on the ball and able to switch can take advantage. What they ought to do is to make sure every Nwide saver is alerted in simple terms to the possibility of switching if appropriate.

Don't suppose they will sadly.

As a Nationwide staff member, I assure you we do our best to make members aware if they can earn higher rates and I have switched several people's accounts from the Instant Access ISA to the Fixed Rate ISA Bond on a daily basis!

Customers have recieved flyers about the higher rates, only customers that have opted for marketing mail receive these updates as we do not send leaflets to customers not wanting marketing mail.