Nationwide My Save Online Plus

Pipcola

Noticed this account in today's email and as we have accounts with Nationwide though it would be worth a look. Started the on-line application but was somewhat concerned that the T&C stated that by opening the account we would have to give up any windfall if Nationwide sold out or became a bank - at least that was my understanding - unless your account pre-dated 1997. Think we will give this one a miss.

ffacoffipawb

Pipcola wrote: »

Noticed this account in today's email and as we have accounts with Nationwide though it would be worth a look. Started the on-line application but was somewhat concerned that the T&C stated that by opening the account we would have to give up any windfall if Nationwide sold out or became a bank - at least that was my understanding - unless your account pre-dated 1997. Think we will give this one a miss.

Opening this won't disqualify your older accounts from a windfall.

However, given the "success" of previous demutualisations, where none exist independently, I doubt we will ever see their like again, not for a generation anyway!

Thrugelmir

The term is there to dissuade people from opening unneccessary accounts.

Personally I hope the NW remains a mutual society.

How many of the demutalised Buiding Societies remain to this day? ....... Zero.

harlequeen

The clause is there to stop 'carpetbaggers' opening accounts and then trying to force demutualisation on the society.

hogger84

Nationwide have been stating this on all new accounts since about 1997. I opened a flex account in 2002 and had this disclaimer on it. Mysave appears to operate independantly of any other account you have with nationwide. Of course it wouldn't hurt to get in writing confirmation from them that your other accoutns would not be affected but I THINK it just applies to any rights the mysave would give you.