nationwide new bonds 6.5%

bristolleedsfan

MattB wrote: »

Oops ignored the 4th column on that chart! Thought they were all 1 year rates! I think you will find having linked accounts or membership conditions does exclude you from the best buys too.

u might think im being funny on purpose, if nationwide had a best buy account i would be the second to plug it ( after yourself of course :rotfl: )

reality is it just doesnt occur in the same way as before the demutulisations neither halifax/abbey or nationwide paid the best savings rates.

will be interesting to see what changes nationwide make to its current account charging structure, as a lot of its profits ( some of which enables the free cash point withdrawals and use of cards free abroad) will have been derived from the current structure of charges.

you will say banks are in the same boat, whilst banks will be affected, banks have a lot more "outlets" for charges and commission throughout its operation.

MattB_4

I think banks also have more scope to simply do as they please regardless of any brand impact (well within reason anyway). Nationwide has to be a good deal more careful IMO. That rings true to many other aspects, rates included.

You don't necessarily need to charge more to re-coup lost revenue though. You can always attack the costs on your back book.

As for plugging Nationwide accounts I don't think i have done too much of that! You certainly won't catch me posting press releases all over the net! LOL

bristolleedsfan

MattB wrote: »

I think banks also have more scope to simply do as they please regardless of any brand impact (well within reason anyway). Nationwide has to be a good deal more careful IMO. That rings true to many other aspects, rates included.

Today, 6:40 PM #9 cazziebo vbmenu_register("postmenu_6682195", true);
MoneySaving Stalwart


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"As they closed my current account when I claimed my bank charges back"

baby_boomer

I'd criticise Nationwide BS for their poor idea of rewarding loyalty if it wasn't for the fact they they are overtrumped in spades by Britannia BS whose stated aspiration is to be the UK's no. 1 Building Society.

Britannia has just offered me a "special" loyal member rate of 3.95% on their "Members' Bond" :eek: for the £3K currently in my regular saver.

As the anti-nuclear lobby so simply put it:

"Nein Danke" If that's the value of loyalty, what do they do to you if you are disloyal :rotfl: Tower Hill? The Leek dungeon :rotfl: ?

And before I got the "offer" they had the cheek to keep me waiting on the phone for ten minutes while having to listen to "benefits of mutuality" propaganda!

free4440273

^You must be a different kind of member:rotfl:

{have no experience with Brittania, and after your post i don't think i want their 'experience': Lousy. * }

*thumbsdown smilie found.

bristolleedsfan

baby_boomer wrote: »

Britannia has just offered me a "special" loyal member rate of 3.95% on their "Members' Bond" :eek: for the £3K currently in my regular saver.

its actually a default option ( rather than a offer) for those who dont give any instructions on maturity which is common with all regular savers that finish at a set time.


"What happens when the account matures?
When your funds mature they will earn a variable rate of interest for 30 days. During this time you can decide what you wish to do with your matured funds. If after 30 days you choose not to take any action your funds will be transferred into a variable rate Members' 1 Year Bond (or equivalent). Withdrawals from the Members' 1 Year Bond are subject to 90 days loss of interest on the amount withdrawn. Further details will be sent to you prior to maturity. "

baby_boomer

bristolleedsfan wrote: »

Withdrawals from the Britannia Members' 1 Year Bond are subject to 90 days loss of interest on the amount withdrawn

Thanks, bristolleedsfan, I forgot that particular account "feature".

What else do they offer, BTW?

bristolleedsfan

baby_boomer wrote: »

What else do they offer, BTW?

only better ongoing account brittannia have is the direct saver, brittannia couldnt put the matured funds in that account by default because it needs passwords/security set up etc.

the account brittania have suggested as default is the best paying account they offer for ongoing accounts. ( ongoing accounts being those that are available all the time and excluding homesaver which isnt appropriate for matured funds)

only good thing about brittanias rubbish savings rates is they might buy another building society in order to boost its retail savings ratio. :rolleyes:

http://www.britannia.co.uk/c_savings/product/rates/current/savingsacc.html