Nationwide Interest Rates

libra10

le_loup wrote: »

Reminds me of The Highly Esteemed Goon Show : "Argh. You dirty rotten swines you! You have deaded me".

I appreciate most of you will not have a clue what I am talking about.

I remember the wonderful, crazy Goons -

'Chisholm: Hairy Scots, tonight we march north to England!
Secombe: But England's south!
Chisholm: Aye, we're gonna march right round the world and sneak up on them from behind!'

... Back to Nationwide!

C_Mababejive

They can shove it. It was not that long ago that they chopped rates, presumably in anticipation of the expected BOE rise so now they are simply putting them back to where they were. I am moving assets from nationwide. Coventry are good.

EachPenny

d63 wrote: »

...maybe i should perhaps close it and move on too.
it is very disheartening.

ColdIron wrote: »

The InvestDirect account doesn't accept new applications. This is a deadended product that won't improve, ditch it

I've kept mine, with a nominal balance, for the very reason new applications are no longer accepted.

I'm not expecting the interest rate to increase any time soon, but the account has the advantage (quite rare I suspect) of having the ability to deposit cheques by post using a postage paid envelope.... with no need to send in a passbook as well, and having online access to be able to transfer the funds to a better interest paying account the moment they clear.

I have high hopes for electronic methods of paying in cheques from home becoming the norm, but just in case that doesn't happen I'm treating the InvestDirect account as an insurance against unexpectedly becoming housebound and/or being in any other situation where getting to a bank branch to pay a cheque in would be inconvenient/uneconomic to the point it wouldn't be worth it.

My small supply of paying in slips and envelopes might one day be a lifeline (assuming NW haven't closed all the remaining accounts by then).

I lose nothing* by keeping the account on my account list, with £1 sitting in it. (*ok, well perhaps 1 penny per year )