Nationwide;Amazing reward for loyalty...yawn

Archi_Bald

snoman wrote: »

So who is currently paying better than 1.5%, without bonus, instant access and no annoying conditions?

many current accounts, whose conditions I do not find annoying, but your mileage might vary, as well as some ISAs and fixed term savings accounts. Several local building societies do, too. Oh and regular savers. Also BM has a 1.6% account. I am not going to respond to your 'yaaaah...but'.

Check out the latest inflation figures.

snoman

As I was talking about instant access savings accounts, not current accounts, ISAs, etc., I take it your answer is "none".

2010

snoman wrote: »

So who is currently paying better than 1.5%, without bonus, instant access and no annoying conditions?

Well it`s NOT Nationwide.
One of the "annoying conditions" to get 1.5% you have to be a member for FIFTEEN years.
Hardly instant access for Joe Public.

1.6% at BM and 1.5% at Saga, just move your money when the rate drops, that`s all you can do.

With Carney changing his mind every two minutes, expect savings rates to go even lower on his latest prophecy.

1,6%, 1.5% and 1.4% with Tesco now might look good in the coming weeks.

2010

Good question in the paper today.
Nationwide Building Society has more than doubled its profits, what does it do with them?

Scroll down and read the comments after the article to find out.

I’ve read that Nationwide Building Society has more than doubled its profits, from £105million to £253million.
They often claim they are not like a bank because they do not have shareholders to pay. This should mean investors/members get better rates and services. As a member this baffles me.
Their counter staff don’t seem able to explain where their profits go. Can you throw any light on what they do with their profits?
http://www.dailymail.co.uk/money/experts/article-2793204/nationwide-bs-doubled-profits-does.html

Archi_Bald

If you want to know what they do with their money, you should read their annual report.

snoman

2010 wrote: »

Well it`s NOT Nationwide.
One of the "annoying conditions" to get 1.5% you have to be a member for FIFTEEN years.
Hardly instant access for Joe Public.

1.6% at BM and 1.5% at Saga, just move your money when the rate drops, that`s all you can do.

With Carney changing his mind every two minutes, expect savings rates to go even lower on his latest prophecy.

1,6%, 1.5% and 1.4% with Tesco now might look good in the coming weeks.

I'm not too bothered about Joe Public as I have been in Nationwide for 15 yrs and I have never signed away any rights to profits, should they de-mutualise. I've enjoyed Tesco for a couple of years, but they are just about to remove my bonus, hence the need to switch. I don't like temporary bonus periods which penalise loyalty.

2010

snoman wrote: »

I'm not too bothered about Joe Public as I have been in Nationwide for 15 yrs and I have never signed away any rights to profits, should they de-mutualise. I've enjoyed Tesco for a couple of years, but they are just about to remove my bonus, hence the need to switch. I don't like temporary bonus periods which penalise loyalty.

Nationwide has done nothing but continually cut it`s LS rates but at the same time increase it`s BoD pay.
You`re already down to 1.5% (if you`ve got 15 years membership) and another cut likely as a New Year present from them.
Also don`t forget there is a £50k limit on the LS.
As pointed out many times Santander will give you 3% on £40k.
Point to any other rates with NW that are worth going for.
Basically NW are crap for savings rates

If you had £40k where would YOU put it, Santander or NW?