Nationwide regular savings account

Kernel_Sanders

I've put my Nationwide accounts online because I thought I could close an old Cashbuilder and Regular Saver online (you can't). I thought I could register for gross interest online (you can't). I thought I could set up a faster payment to someone else from my Regular Saver online (you can't). All a bit of a disappointment then. Until I saw this. They are actually paying me 0.25% on my £3000, not the 2% advertised! (You might be able to check it here on their flaky website).
In what way am I increasing the monthly balance by less than £100?

eskbanker

Kernel_Sanders wrote: »

They are actually paying me 0.25% on my £3000, not the 2% advertised! (Can't even check it here on their flaky website).
What is going on?

Have you been caught out by their (relatively unusual) condition that states that "The interest rate depends on the overall increase in the account balance in that calendar month, not how much you have in the account" or are you definitely paying in over £500 per month?

Edit: probably not, since it was discussed extensively earlier in the thread!

colsten

The "interest rate history" shows how much interest you actually got (i.e. will get, once it pays) for a given month.

EarthBoy

Kernel_Sanders wrote: »

I thought I could set up a faster payment to someone else from my Regular Saver online (you can't).

That's quite common with savings accounts.

Kernel_Sanders wrote: »

All a bit of a disappointment then. Until I saw this. They are actually paying me 0.25% on my £3000, not the 2% advertised!

If you read the message on the screen, you will see that the interest rate shown isn't what you actually got. It says:

"The interest rate shown below is the minimum rate paid on your account. The actual rate paid is dependent on the amount you pay in during the month and will be shown on your interest rate history page on 1st of each month."

Kernel_Sanders

eskbanker wrote: »

Have you been caught out by their (relatively unusual) condition that states that "The interest rate depends on the overall increase in the account balance in that calendar month, not how much you have in the account" or are you definitely paying in over £500 per month?

Edit: probably not, since it was discussed extensively earlier in the thread!

In what month did the balance not increase ?

ScarletBea

colsten wrote: »

The "interest rate history" shows how much interest you actually got (i.e. will get, once it pays) for a given month.

EarthBoy wrote: »

If you read the message on the screen, you will see that the interest rate shown isn't what you actually got. It says:

"The interest rate shown below is the minimum rate paid on your account. The actual rate paid is dependent on the amount you pay in during the month and will be shown on your interest rate history page on 1st of each month."

This.
Go to the link of the left and you'll see the 2% for each completed month.

eskbanker

Kernel_Sanders wrote: »

In what month did the balance not increase ?

Couldn't see your screenshot when I posted, now I can I see my post makes no sense, please ignore!

Kernel_Sanders

EarthBoy wrote: »

If you read the message on the screen, you will see that the interest rate shown isn't what you actually got. It says:

"The interest rate shown below is the minimum rate paid on your account. The actual rate paid is dependent on the amount you pay in during the month and will be shown on your interest rate history page on 1st of each month."

I'm struggling to comprehend why I missed that

eskbanker wrote: »

Couldn't see your screenshot when I posted, now I can I see my post makes no sense, please ignore!

That screenprint was already there before I edited. Maybe you're on a slow connection and it didn't load in time? I do hope it's not the case that you saw it, but it didn't register in your brain (which is the experience I seem to have had above!)

eskbanker

Kernel_Sanders wrote: »

That screenprint was already there before I edited. Maybe you on a slow connection and it didn't load in time? I do hope it's not the case that you saw it, but it didn't register in your brain (which is the experience I seem to have had above!)

No, nothing like that, it's just that the site you're using to host the image isn't accessible through the firewall I'm behind during the day (I can't see it at the moment either but know it's there!)

Kernel_Sanders

eskbanker wrote: »

No, nothing like that, it's just that the site you're using to host the image isn't accessible through the firewall I'm behind during the day (I can't see it at the moment either but know it's there!)

That must be annoying. So is there no indication at all that a pic has been attached?