Nationwide Loyalty Saver 0.3% rate drop

ColdIron

You are correct but easily arranged with Tescos savings accounts, obviously you could use the Enhance first but if you have more than £15,000 you could bring the Vantage into play, if you have both

boo-hoo

It appears I am not alone then. They seem to make up the rules as they go along. After the call from Nationwide I certainly intend to pursue the matter. I may also complain to the ASA as their adverts all rave on about the have no shareholders so can give competitive rates. Calling the account Loyalty Saver is a joke there is nothing loyal from their side even if you have been Saving with them for over 15 years. Time to say goodbye I think

boo-hoo

Couldn't agree more. Even getting voting papers is a joke because you know that those who run it have more voting rights that us poor minions

2010

boo-hoo wrote: »

Calling the account Loyalty Saver is a joke there is nothing loyal from their side even if you have been Saving with them for over 15 years. Time to say goodbye I think

The board of directors,chairman, CEO, have it all sewn up.
They will never float on the stock market and so no payout for the members.
The only big payouts every year are to the people who are running it.
You could almost say they are running a "dictatorship".
With their massive profits, there should at the very least, be a members bonus payment every year.
A bit like paying shareholders really, that they keep saying they don`t have to pay.

Vote with your feet.

Mr_Prudent

I will keep the loyalty saver open with £1 so as not to lose the status and in the hope that someone from Nationwide will come to their senses and stop treating loyal savers with the complete contempt that they think we deserve at this moment in time. If and when things begin to improve for savers in the future, I for one will remember those that have taken advantage of savers “loyalty” and treat them with the same disdain they have shown us.:mad:

System

I noticed a big change when they started to advertising the free overseas withdrawals in a big way; they moved to being much more bank like.

They use the word 'customer' much more than 'member' now.

I wouldn't care one bit if they got taken over or floated.

2010 wrote: »

The board of directors,chairman, CEO, have it all sewn up.
They will never float on the stock market and so no payout for the members.


Vote with your feet.

moneyfoolish

ctdctd wrote: »

That's only for issue 6.

No letter yet for mine - it's issue 4

I got a letter today and I've got issue 4. 1.5% down to 1.2%!

Mr_Prudent

Finally got my letter from “on my side” Nationwide this morning informing me of rate cut on my 15 year loyalty saver issue 4. It makes you wonder what their already terrible rates would be if they weren’t “on my side”. Taking the p**s to new levels Nationwide. SHAME ON YOU!

2010

Vote with your feet.

Coventry has a 1.4% postsave easy account that can be operated online.
twelve withdrawals a year.

Just out yesterday is the new Virgin defined access account paying 1.35% BUT you are only allowed three withdrawals a year or the rate drops to .75%

http://uk.virginmoney.com/savings/find/defined_access_e_saver/overview/

bowlhead99

Mr_Prudent wrote: »

It makes you wonder what their already terrible rates would be if they weren’t “on my side”. Taking the p**s to new levels Nationwide. SHAME ON YOU!

If you've been an accountholder for 1 year (loyalty saver), or have a flexaccount (flexclusive saver), or are willing to accept only 5 withdrawals a year (limited access saver), the offered rate is 0.90% for instant access, which is approximately double the level that the central bank base rate has been running at for the last six years (0.5%).

What your 15 years service is buying you is an extra third on top of that rate, to take it to 1.20%.

What they are not doing is saying that they will always be offering the highest rates in the market for every type of easy access and fixed deposit and regular savings account and current account and mortgage and unsecured loan and credit card etc etc.

You can say that's 'taking the p**s' or 'they are running a dictatorship' or you can calmly shop around for the best deals for your circumstances.