Northern Rock intermediaries

patchwork_cat

Does anyone know if Northern Rock pays a different amount to intermediaries dependant on the savings product taken. If so can you tell me what the amount would be for a 90 day account as opposed to a 5 year fixed product?

xrjtg

What 5 year product, and what intermediaries? I'm not aware of any banks that pay a commission to people referring savers to them.

patchwork_cat

IFA's get cash from banks for referring savers, don't they?!

opinions4u

patchwork_cat wrote: »

IFA's get cash from banks for referring savers, don't they?!

While this used to be the case, I'm not aware of such arrangements having existed for a long time.

I suppose it's possible some providers still operate a market for this, but the margins would be wafer thin for all concerned.

Aegis

opinions4u wrote: »

While this used to be the case, I'm not aware of such arrangements having existed for a long time.

I suppose it's possible some providers still operate a market for this, but the margins would be wafer thin for all concerned.

Scottish Widows still have this for the Direct Transfer Account, not sure about any others at this time though.

dunstonh

There are some providers that still pay a trail commission on introduced funds. Not many nowadays but there are still some. As it happens, its often the top rate payers. The credit crunch culled most of them directly or indirectly.

the margins would be wafer thin for all concerned.

You would think so but take Scottish widows bank. They are normally up and around the top end. Their rates are the same if you go direct or use an IFA.