Nationwide Child Trust Fund - what happened?!

Ivrytwr3

Just had a statement from my 2 little ones CTF's held with Nationwide and the interest rates had dropped significantly since opening. It used to be 5% then an extra 1% bonus if you topped over x amount.

I don't recall any notcies from Nationwide informing me of the interest cut; has anyone here had to deal with this?

What did you do? Keep it where it is or move it out?

Ta!

xylophone

http://www.nationwide.co.uk/investments/customer_support/products_no_longer_available.htm

http://www.nationwide.co.uk/savings/childrens/childrens.htm

http://www.moneysavingexpert.com/savings/child-trust-fund-vouchers- a transfer to Yorkshire might be a possibility?

It may be that a transfer to JISA will be permitted in due course - rates are better on JISA - the best being offered by Halifax. http://www.thisismoney.co.uk/money/saving/article-2471844/Child-trust-funds-Hope-millions-trapped-savers.html