Nationwide & Portman to Merge!!!

ReportInvestor

Portman is giving Nationwide members the chance of long term cost savings through - among other things - Portman job losses & branch closures where there is duplication. Nationwide members won't lose out, you can be sure of it.

Liz_the_Whizz

I know they say that the massive new Nationwide will remain mutual, but surely there must be a chance a few years down the line that it will de-mutualise?

I have kept my account with Nationwide from pre-signaway days just in case!

Robert_Sterling

Liz the Whizz ... Yes. Quite so.

MattyNeth

I have kept my account with Nationwide from pre-signaway days just in case!

Likewise Liz. I had Bradford & Bingley, Portman and Nationwide from a few years ago - £100 in case. Two down and one to go :-)

Really not worried about a lack of interest on my Nationwide Cashbuilder account. Let's say I could get 5% a year somewhere else. My £100 would be £252.70 by 2026 compounded. I'm prepared to wager that by 2026 Nationwide will have been taken over or demutualised so quite happy to leave it where it is...

Speculator

Why not put the £100 into one of their fixed rate bonds like their e-bond paying 5.20% gross.(Fixed for 1 or 2 yrs)

MattyNeth

Wouldn't want the risk of closing the cashbuilder (or not holding £100 in it) and then opening up a new product only to be told years down the line that I didn't have a qualifying account. Safe to leave where is

suekjw

We were in The Staffordshire and had a payout when the Portman took us over last year (or the year before?). Does this mean we get another payout?

Speculator

yes, you will get another payout.

suekjw

Thanks - seems too good to be true!

laughing_cow

I've got a qualifying account with the Portman. I also have an account with the Nationwide. However, IIRC, I don't have membership rights with the Nationwide because I opened the account once the 'signaway' was in place.

Question: If I have full membership rights with the Portman, will that membership become a full membership of the Nationwide? (and thus be eligible to receive any future payouts if the Nationwide goes for DM). Or will Portman members only become 'signaway' members of the Nationwide?

ta muchly.