Nationwide e-savings plus

Rob9fla

I have had a Nationwide e-Savings Plus account for a few years. I paid in a large sum of money in around October 2014 (around £80k) expecting to buy a small flat cash. This never happened until October 2015 when I bought the flat withdrawing all the money. Now I know people will say I've been careless about interest rates but I mostly use the iPhone app from Nationwide. It says there my interest rate is 0.9% on the statement screen so I thought I would get that at the anniversary date. Alas, because I made more than 5 withdrawals, I will only get .25% interest. Now, I understand from visiting the branch (I hardly ever do) that I have no recourse on this. I should have read the terms and conditions but the app on my phone always says 0.9% where it should have said .25%! I know I should have been more savvy but Nationwide never told me I could have done better with another account and I was going on my iPhone app which says 0.9% interest rate. Is there anything I can do, mainly because I have been going on the iPhone app information? Please don't tell me what I should have done. That's no use to me as I know I've messed up already. Many thanks. Rob

droopsnoot

Rob9fla wrote: »

I know I should have been more savvy but Nationwide never told me I could have done better with another account

All else aside, don't you get the annual thing in the post from Nationwide detailing what you have, what interest it's earning, and what other accounts you could put it in? Granted, there's not a lot of choice there, but they write to me annually.


Can't help on the other bit, sorry, but I suspect that they will have covered themselves in the Ts and Cs when you downloaded the app. You might want to send them a written complaint and see if that gets you a goodwill payment of any kind.

enthusiasticsaver

Unfortunately I do not think you have any grounds for complaint on this. The rate is 0.9% (pretty abysmal anyway) and they have covered themselves with the terms and conditions. Learn from this and move on. I guess if you kicked up enough and threaten to withdraw your business from Nationwide they may do something as a goodwill gesture.

AlanP_2

In the meantime look for a better home for your money.

Interest paying Current Accounts e.g. TSB @ 5& on £2k, along with Regular Savers are the best payers.

Which accounts will depend on how much money you have but you should be able to get 4-6% Gross. Lots of threads and information on here.