Nationwide Champion Saver

alanq

New branch-operated passbook account.
60 days notice or 60 days loss of interest.
Interest rate based on the average of the top five rates offered by 8 competitors (not clear for which accounts). Initial rate 2.80% including bonus.
Minimum deposit £1000
http://www.nationwide.co.uk/savings/notice_accounts/championsaver/Introduction.htm

I won't be dashing out to open one!

KTF

The 'competitor' accounts are of course picked to make their rate look good and its branch based because its pitched against non-online accounts.

Clearly they thought the queues of people in the branches wanting to update their passbooks during the lunchtime peak were getting too short...

1. The rate is based on an average of the top five paying branch based instant access, limited access and notice accounts (including any bonuses) published on www.moneyfacts.co.uk, available from Abbey, Barclays, Halifax, HSBC, Lloyds TSB, Northern Rock, NatWest and Royal Bank of Scotland. ISAs, Fixed Rates, Regular Savings and Age-Specific Accounts have been excluded. Rates are calculated on the second Monday of each month and come into effect from the 1st of the following month.

2. Competitor rates will be based on the AER on a £10,000 balance.

From: http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=1435

Milarky

ktf wrote: »

clearly they thought the queues of people in the branches wanting to update their passbooks during the lunchtime peak were getting too short...

rofl.......

flyingscotno1

It is one of these accounts that sounds good but in actual fact looking closely it is not that brilliant and will only appeal to a small number of folk.

thor

flyingscotno1 wrote: »

It is one of these accounts that sounds good but in actual fact looking closely it is not that brilliant and will only appeal to a small number of folk.

Yeah the gullible!

bagsacash

When I saw this Champion saver being advertised and saw the rate it made me laugh. Are the Nationwide extracting the urine

Jonbvn

I guess the account will appeal to some older folk who like to have passbooks? (Like my Mum!). I would consider it the best of a bad lot.