Furious 20+ year NationWide customer - Can't have our money easily.

ColdIron

I had one of their old MySave savings accounts before I had a current account and that was transferred electronically, can't remember if it was online or telephone banking but it wasn't by cheque

EarthBoy

Yorkshire_Pud wrote: »

I think its always been a requirement to have a FlexAccount with Nationwide before one can access or open their other products?

You think wrong. It's only ever been a requirement to have a FlexAccount if you want one of the Flexclusive savings accounts. If you just want an ordinary savings account you've never had to have a Flexaccount as well.

Yorkshire_Pud

EarthBoy wrote: »

You think wrong. It's only ever been a requirement to have a FlexAccount if you want one of the Flexclusive savings accounts. If you just want an ordinary savings account you've never had to have a Flexaccount as well.

OK happy to be proved wrong I think I have always had the FlexAccount and used it as the gateway to most other products that I wanted so didn't know any different!

OP couldn't get his funds transferred out though so I appreciate the facility of using my FlexAccount to do this.

alanq

The terms for the Regular Saver said that at the end of 12 months funds would be moved to an Instant Access Saver account which would earn the going rate at that time.

The Instant Access Saver terms say ways to withdraw are

• Withdraw up to £500 in cash a day or up to £500,000 by cheque at any of our branches.
• If you have a card, you can withdraw up to £500 a day using any Nationwide cash machine.
• Transfer money to another Nationwide current account or instant access savings account held in your name, using our Internet Bank or Banking app (if you’re registered for Internet banking).
• Make transfers by CHAPS or Overseas Electronic Transfers in sterling (please note, this service is only available in branch and there is a fee payable).

Did you not check the terms before signing up to the Regular Saver? Your only option seems to be to open a current account. It is not unusual for savings account withdrawals to take place either in branch or via a current account. It seems that Nationwide has done exactly what its terms said it would do however unhelpful that is for you.

I agree that the procedure for closing an account is hard to find (though I did eventually find it via online help) and unsatifactory.

(I and many others have had issues with Nationwide for not paying interest on the correct date and the shortcomings of its agents. I myself raised a complaint via secure message and got a response that had nothing to do with my issue and referred to completely different account to the one I specified. Anyone taking time to read my message could not have made that mistake. )

ColdIron

OP actually had the Regular Savings account (1.75% savagely cut to 0.5%) and not the Regular Saver (2%-5%) even though they said they had the saver

Castle

ColdIron wrote: »

OP actually had the Regular Savings account (1.75% savagely cut to 0.5%) and not the Regular Saver (2%-5%) even though they said they had the saver

Actually the Regular Savings rate was only 0.25% on 1st December and was renamed Instant Access Saver (issue 4).

eskbanker

leboof wrote: »

Hold on a minute, this is a bank [...]

No, it's a building society actually - just because they offer a broader range of products than many other building societies (and are probably bigger than some banks), that doesn't actually make them a bank as such and their status may well be responsible for some processes that seem clunky to you....

PeacefulWaters

It's Nationwide.

Not NationWide.

colsten

leboof wrote: »

Paying me the wrong interest rate on an account, being told I was indeed correct, calling several times to put it right, then calling several times again as they did not put it right, yes, I guess I'm not easy to please.

How much compensation were you offered? The going rate for incorrect/no interest payments made seems to be anything between £20 and £50, unless you throw a fit, in which case it will be £0.

leboof

colsten wrote: »

How much compensation were you offered? The going rate for incorrect/no interest payments made seems to be anything between £20 and £50, unless you throw a fit, in which case it will be £0.

I was offered none, I requested some, and received none as they claimed they had put it right. However, it was impossible to put it right as they indicated themselves that the interest could not be backdated. In my opinion, fobbed off.

I went to the branch to close the accounts, their loss, I have more then doubled my interest rate elsewhere.