Windfall - Nationwide????

plumb1_2

alared wrote:

I would say there`s more chance of a spaceship landing in your garden and a little green man getting out and giving you £1,000,000 than getting anything from Nationwide.

IMO, there will be quite a few mergers in the not to distant future.
Portman taken over Lambeth, Newcastle taken over Universal, all in the last couple of months, both with signaway clause.

I see nationwide as being a Preditor

Prudent

cheggers wrote:

You are wrong! Nationwide have a life time signaway clause on all account opened after 1997/98.

If the do go plc and you opened an account recently you will get nothing.

I opened a Nationwide cash Isa in 1999. I was not looking to benefit if they demutalised, it was simply a good rate of interest. I had to sign a clause as you indicated. This year I noticed the member's bond paid a higher interest rate and enquired about it. I was told that if I had been with them for 5 years, which of course I has, then I was eligible. While I was filling in the forms the lady said I had now been with them for long enough to benefit from a windfall should they demutalise (she was explaining the original clause).

Roger_Mellie_3

I can't believe I opened my account in 1997 hoping for a windfall.

I remember when there was a ballot for demutualising and they fiddled about with the ballot papers something terrible in order to confuse people. The used subtle methods like making the questions unclear and making the colour coded "yes" and "no" options change colour in order to confuse people on the conversion questions.

They were also very keen to close my account on a number of occasions and change it to a non saver account because I had made more than 5 withdrawls. It was obvious why they wanted the account closed though.

cheggers

Prudent wrote:

I opened a Nationwide cash Isa in 1999. I was not looking to benefit if they demutalised, it was simply a good rate of interest. I had to sign a clause as you indicated. This year I noticed the member's bond paid a higher interest rate and enquired about it. I was told that if I had been with them for 5 years, which of course I has, then I was eligible. While I was filling in the forms the lady said I had now been with them for long enough to benefit from a windfall should they demutalise (she was explaining the original clause).

The lady at the Nationwide mis-informed you. All accounts are life time signaways.

My tip is open an account with Leek United they are a ripe target for a take over.

caveat_emptor

Roger_Mellie wrote:

I remember when there was a ballot for demutualising and they fiddled about with the ballot papers something terrible in order to confuse people. The used subtle methods like making the questions unclear and making the colour coded "yes" and "no" options change colour in order to confuse people on the conversion questions.

When it comes to the AGM and ballot for directors not a lot has changed. I notice from this years AGM notice that lay-members previously standing for election have got fed up and gone away. Just what the Board of Directors wanted. So much for mutuality.

flossy_splodge

I don't agree. I think the Nationwide may well go in about 2-3 years time. Lets wait and see.:D

shark_2

It's AGM time once again at Nationwide building society, and their voting form is all printed out in red ink to make it all too easy to follow and vote in favour of the board? Don't they trust us to vote as we really want to? Not exactly fair play from a mutual organisation in attempting to influence the outcome of members' voting.