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Nationwide hoax message?

I logged into my Nationwide account this morning and received the following message:

We are very mindful of the impact for our savers of the current low interest rate environment. To help savers, on 1 March, we increased the maximum balance limit on e-Savings Plus to £500,000.
Richard Searle
Head Of Electronic Channels


I assumed it was a hoax by a hacker with a wicked sense of humour, and reported it to Nationwide, but have not yet received a reply. Has anyone else seen this message? And what are 'Electronic Channels'?
Fred
«1

Comments

  • withnell
    withnell Posts: 1,629 Forumite
    Why would it be a hoax? They've just increased the upper limit on their highest paying instant access account
  • gozomark
    gozomark Posts: 2,069 Forumite
    agree - its max not min, so can't see an issue with it
  • MrsMillar
    MrsMillar Posts: 100 Forumite
    withnell wrote: »
    Why would it be a hoax? They've just increased the upper limit on their highest paying instant access account

    I think the OP is making a joke about the fact that Nationwide are suggesting that allowing us to put more money into their accounts makes up for the generally poor interest rates offered.
  • I think MrsMillar is correct.
    ...............................I have put my clock back....... Kcolc ym
  • Fred_Bear_2
    Fred_Bear_2 Posts: 392 Forumite
    Thanks withnell and gozomark for your reassurance. I had no idea that many people would keep half a million pounds in one building society account. I live and learn.
    Fred
  • Nomad25
    Nomad25 Posts: 1,995 Forumite
    Part of the Furniture Combo Breaker
    I think the OP is making a joke about the fact that Nationwide are suggesting that allowing us to put more money into their accounts makes up for the generally poor interest rates offered.

    When I logged on to NW last night [to transfer my substantially less than 50K savings out :p ], I got this message and :rotfl:.
  • alanq
    alanq Posts: 4,216 Forumite
    1,000 Posts Combo Breaker
    Fred_Bear wrote: »
    I had no idea that many people would keep half a million pounds in one building society account. I live and learn.

    We used to see top interest rate tiers on £25k balances. Now it is not unusual to see a headline rate of up to x% that applies only to balances above £50k. A few months ago I saw one advert for a financial institution that only paid the headline rate on £500k! The returns on smaller balances were considerably lower. I can't remember the organisation in that case but the Leeds Building Society still has a headline rate that only applies to balances over £100k.
    http://www.leedsbuildingsociety.co.uk/

    I remember at the time of the run on Northern Rock there were people complaining that they had over a million pounds in online accounts that they couldn't gain access to.
  • soulsaver
    soulsaver Posts: 6,386 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Fred_Bear wrote: »
    I logged into my Nationwide account this morning and received the following message:

    We are very mindful of the impact for our savers of the current low interest rate environment. To help savers, on 1 March, we increased the maximum balance limit on e-Savings Plus to £500,000.
    Richard Searle
    Head Of Electronic Channels

    I assumed it was a hoax by a hacker with a wicked sense of humour, and reported it to Nationwide, but have not yet received a reply. Has anyone else seen this message? And what are 'Electronic Channels'?
    Fred
    Is that...
    !!!!!!, Head of Electronic Channels
  • John_Kennet
    John_Kennet Posts: 12 Forumite
    My first thought when I received this was that they cannot be serious. Who would keep more than 50K in any account nowadays no matter how much savings they have ? Though I soon realised it was a rather dumb way of advertising their new e-savings plus account which seems to offer not bad rates with strings attached.With the standard e-saver rate below 1% this 2.5% account is looking tempting..
  • Iconic
    Iconic Posts: 1,021 Forumite
    Part of the Furniture 500 Posts
    I got this one from them yesterday and thought it was a hoax. The only thing that made me think it wasn't was the post code. Very bad Marketing in my opinion!

    'If you cannot read this email message please click here

    If you do not wish to receive any further email messages from Nationwide please click here


    Dear.........

    Some time ago, you may remember, you were kind enough to let us have your email address.
    Now we have it we'd like to be able to send you email, every now and then, with news of our latest products and services and member information. After all, email is an easy way to stay in touch.
    However, we also recognise that you need to know any email you receive from us is genuine. So, to help you make sure I would like to remind you that we guarantee two things.
    First, we guarantee that any email we send you will include your postcode - both at the top, and at the bottom.
    Second, we guarantee that any email we send you will not request any confidential details or security information such as account details or PINs. We will NEVER do this in an email. Nor will we direct you to a website requesting you to enter your personal security details.

    As I said, email is a useful way to keep in touch with you. But don't worry - we won't overdo it. We'll only send you email when we've got something genuinely helpful to say.
    And here's another promise: because your privacy is important to us, we will never share your email address with anyone else.
    Having your email address will help us provide you with an even better service. If you have changed your email address since we last contacted you, or would like us to send you email using a different email address, please click here, so we can update our records.
    However, if you'd prefer us not to communicate to you by email, just click here to let us know.
    Yours sincerely,

    Mike Evemy
    Marketing Controller
    Nationwide Building Society'
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