Nationwide reducing Esavings plus to a paltry 0.9% from 1st April

kookai9

Nationwide reducing Esavings plus to a paltry 0.9% from 1st April

Castle

kookai9 wrote: »

Nationwide reducing Esavings plus to a paltry 0.9% from 1st April

Did you get a letter or has it been advertised somewhere?

retiree

kookai9 wrote: »

Nationwide reducing Esavings plus to a paltry 0.9% from 1st April

I received confirmation of this by post this morning.

Castle

retiree wrote: »

I received confirmation of this by post this morning.

Is your letter dated sometime in February 2015 as they seem to be having a postal problem at present, and they have to give 30 days notice.

retiree

Castle wrote: »

Is your letter dated sometime in February 2015 as they seem to be having a postal problem at present, and they have to give 30 days notice.

Letter was dated 25th February. Sent via UKMail which, in my experience, is extremely slow.

jimjames

You can still get 3% and 5% with their flex accounts, they haven't been cut.

Archi_Bald

Remember the 3% account costs £10 a month and is only viable if you get benefits for the insurances it offers.

kookai9

jimjames wrote: »

You can still get 3% and 5% with their flex accounts, they haven't been cut.

It is possible to get 1 of these accounts ,but they will only give the rate for 1 year & they wont allow you to reapply the following year when they reduce the rate as they do with all customers.

I received confirmation of this by post this morning:)

jimjames

Archi_Bald wrote: »

Remember the 3% account costs £10 a month and is only viable if you get benefits for the insurances it offers.

Yes that's true. We get great value from the insurance.

Archi_Bald

Yep, me too. It's a great account for my requirements. But it wouldn't be suitable for someone who doesn't travel, has no car and no phone.

Archi_Bald

kookai9 wrote: »

It is possible to get 1 of these accounts ,but they will only give the rate for 1 year & they wont allow you to reapply the following year when they reduce the rate as they do with all customers.

You do not have to re-apply for the FlexDirect after the first 12 months. All that happens is that your interest rate drops from 5% to 1%.

You are right, though, the 5% is only available for 12 months and only if you did not have a FlexDirect account in the last 12 months.