Nationwide reducing many Savings rates on 1st September

Kim_13

Westie983 wrote: »

See both the regular saver has gone down, ;(

Regular Saver has been 2% for a while now, this is the open to all version. The Flexclusive is the 5% one and still on sale. Childrens' regular saver seems unchanged also.

Jeems

lol @ Loyalty Saver. 15 years + custom? Sure, here's 0.95%.

Kim_13

0.95% is quite an annoying number - would have thought they could hit the newer customers by more than the base rate cut and loyal customers by less than the base rate cut. It is a Loyalty Saver account after all.

Their other comparable open to all account remains at the base rate, so sticking with them for a year (then converting to Loyalty Saver) as it is more than doubles the interest rate. Seems quite disproportionate that an extra 14 years only gets another 0.30%.

On the old rates you had to be on a 5 year account (if I recall) to receive double the base rate. Loyalty Saver has gone into reverse.

xylophone

Loyalty Saver has gone into reverse.

Keeping you safe in the keep net?:rotfl:

https://www.youtube.com/watch?v=H--tdhf1DPg

http://www.tvadvertsuk.com/insurance-and-services/nationwide-building-society-tv-advert-ill-keep-you-safe-we-have-been-awarded-best-loyalty-rewards-for-existing-customers-on-your-side-for-generations-nationwide-tvadvert-advert-tvadvertsuk/

6022tivo

Just had the letter regarding my Nationwide ISA dropping 0.25% on the 1st September.

I thought they had to give me a months notice?

YorkshireBoy

6022tivo wrote: »

Just had the letter regarding my Nationwide ISA dropping 0.25% on the 1st September.

I thought they had to give me a months notice?

No. See conditions 28(i) and 29 here...

http://www.nationwide.co.uk/~/media/MainSite/documents/products/savings/terms-and-conditions/P2797.pdf

Kim_13

30 days but it would be from the date of the letter, so with a delay in posting and arrival, it's often less.

YorkshireBoy

Kim_13 wrote: »

30 days but it would be from the date of the letter, so with a delay in posting and arrival, it's often less.

Even though I've posted a link to the T&Cs stating otherwise?


The 30 days only applies for reasons other than those listed in condition 28 (few and far between!). The reason for this reduction is, as I've said above (and linked to), covered under condition 28(i)...so no personal notice is given.

System

Age of the relationship means nothing.

I'm eligible for the top tier but dumped their products once they became uncompetitive - just keeping a single account to maintain membership.

You can't get an ATM card on the account loyal members only like passbooks apparently.

Jeems wrote: »

lol @ Loyalty Saver. 15 years + custom? Sure, here's 0.95%.

roddydogs

Deja Vue, didnt we have all this a few months ago when NW reduced rates?