Nationwide Cahbuilder

MEK1

Dear all,

I've had a Nationwide cashbuilder account since the early 90s and now use it as an emergency account should I loose my main cards.

A work colleague has told me that if Nationwide demutualise, if I have the right account I would be entitled to shares.

Does anybody know if a standard cashbuilder account qualifies?

I'm going to keep the account running regardless as my emergency account but I wondered if I should pay attention to any further talks of Nationwide floating.

Thanks,

MEK1

EarthBoy

To qualify for a windfall you need to have had a share account with them since before November 1996, or 1997 (I forget which, exactly). CashBuilder is a share account. Normally, you also need to have at least £100 in a share account at the date that the de-mutualisation is announced. As no-one knows when that might be, you effectively have to keep £100 in there permanently.

However, the chances of them, or any other building society, de-mutualising in the present economic climate is so small as to be not worth thinking about. Not impossible, but very, very unlikely.