Nationwide - Not so different?

thor

ReportInvestor wrote:

They couldn't offer top savings products because they had put themselves under so much unnecessary pressure in the mortgage market , but now the policy has finally unravelled , and they have got their mortgage rate back to where they started and savers might finally get some more attention with a bit of luck.



Back to where a properly run mutual should be, IMHO.

You know I really, really doubt this will happen. They have got away with crappy saving rates for years and I can't see how correcting their mortgage rates will put an end to that. They may be a mutual but they like to look after number one and to hell with their members.

hostertlady

just had my september statement for my account and the interest added wasn't even worth having! i feel like giving it back as they obviously need it! i am drawing out all of my savings with them and putting into Lloyds monthly saver account,

ReportInvestor

The Nationwide continues its two year mortgage rate adjustment.

0.25% will be added to the mortgage rate from December without waiting to see what anyone else will do.

Ananova

Let's hope Nationwide savers benefit by the same margin.

ReportInvestor

Times

Nationwide first half profits up 20%

This is on top of a large rise, much trumpeted, last year.

Of course, when profits were low, this was also trumpeted - by exactly the same management - as something we should admire. Where's the consistency?

What a difficult job it must be to run a top mutual :rolleyes:.

LizEstelle wrote:

Actually, ReportInvestor, what I was hinting at was the fact that your pro-Nationwide enthusiasm was SO blatant, one could have mistaken you for an employee of their PR department

P.S. I bet the larger profits mean, paradoxically, that they tell us that we have benefited even more by being members - assuming that they work out the "mutual dividend" as 35-40% of the profit.

I'll keep an eye out for any such "Alice in Wonderland" PR.

Kilty_2

Anyone reckon they are going to increase the 4.80% E-Savings rate any time soon?

I want to put approx £3000 into a savings account and am considering Nationwide because I was going to open a FlexAccount anyway.

KTF

There are better instant access accounts than their e-savings one but...

Details of savings rates will be announced in due course. However, both savings and mortgage rates will be increased at the same time on 1 December 2006.

From: http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=911

Kilty_2

That's good then, probably go for e-savings. Even if they up it to 5.00% then it matches Birmingham Midshire which was the best account I could find (Landsbanki and ICICI wont take me as an applicant since I'm under 18).

[Deleted User]

Kilty wrote:

That's good then, probably go for e-savings. Even if they up it to 5.00% then it matches Birmingham Midshire which was the best account I could find (Landsbanki and ICICI wont take me as an applicant since I'm under 18).

Birmingham Midshires' own Internet Easy Access Savings A/c (Issue 6) offers 5.20% gross, before any prospective 'rate rise' increase. That rate includes 0.65% bonus, but that lasts for 12 months. I assume that if they will accept you as under-18 for one account, then they will for the other.

Here

Kilty_2

Another problem with BM is that I'd need to open a feeder account with Abbey or another bank that will give me a cheque book, as they require a cheque from the linked account for initial deposit.

Nationwide seems the easier option, even if I do lose a little interest.

ReportInvestor

Nationwide's Philip Williamson has refused to rule out the introduction of bank charges for current accounts

Nationwide had been expected to lead the out and out condemnation of First Direct's recent move in this direction.

The other banks are staying stumm.

Silence on the banks says it all - Times Money Comment

New Fees signal an end to free banking
This is a general article on the situation, and doesn't mention Nationwide.

Should MSE send a representative to the next "Meet the Directors" event at the London Emirates Stadium on 23rd November to press Nationwide on this crucial matter?

Book your place at the 23rd November Nationwide talkback to meet directors Stuart Bernau and Jeremy Wood

Evening Standard - Nationwide's statement from its boss

"....'It does cost us money to run current accounts and depending what comes of the Office of Fair Trading's enquiry into overdrafts and how our competitors react, we will have to assess the situation.

'I don't think we can rule out charging for current accounts totally although we have no immediate plans to introduce such charges at the moment......"