The Top Easy Access Savings Discussion Area

RG2015

murphydavid said:

Vote with your feet.
Foot voting - WikipediaDaliah said:

Nationwide should be ashamed of their abysmal savings rates.

Why? They still have a very competitive 2.5% regular saver and currently have a £125 switching bonus for members.

They also have the start to save regular saver account at a decent 1.25%.

All banks are rubbish at times but it doesn't stop me opening their accounts with good rates or features..

sheffieldeagle

typistretired said:

Mine too the only good thing of them requiring you to open a new account every time they increase their interest  is that you get your interest to date when you transfer and close

Hi

I wonder if you can tell me how long does it take for the interest on the closed accout to be transferred across?

Cheers

masca

Interest is credited immediately (on withdrawal/transfer and close).

Section62

RG2015 said:

murphydavid said:

Vote with your feet.
Foot voting - WikipediaDaliah said:

Nationwide should be ashamed of their abysmal savings rates.

Why? They still have a very competitive 2.5% regular saver and currently have a £125 switching bonus for members.

The switching bonus isn't an interest rate though - and paying out switching bonuses (and lottery prizes, and compensation for IT failures) is perhaps why Nationwide feel unable to increase their savings interest rates.

RG2015

Section62 said:

RG2015 said:

murphydavid said:

Vote with your feet.
Foot voting - WikipediaDaliah said:

Nationwide should be ashamed of their abysmal savings rates.

Why? They still have a very competitive 2.5% regular saver and currently have a £125 switching bonus for members.

The switching bonus isn't an interest rate though - and paying out switching bonuses (and lottery prizes, and compensation for IT failures) is perhaps why Nationwide feel unable to increase their savings interest rates.

Your argument is a non sequitur.

@murphydavid said vote with your feet.

All I am saying is that it is counter intuitive to walk away from a building society that is still offering good incentives. 

Edit: Just for clarification, I was responding to @murphydavid not @Daliah.

The order of the previous posts was reversed.

typistretired

I have been with them donkey years not going to leave now. I wonder if they will eventually bring back their free travel insurance. And yes I know I am going off topic

Section62

RG2015 said:

Section62 said:

RG2015 said:

murphydavid said:

Vote with your feet.
Foot voting - WikipediaDaliah said:

Nationwide should be ashamed of their abysmal savings rates.

Why? They still have a very competitive 2.5% regular saver and currently have a £125 switching bonus for members.

The switching bonus isn't an interest rate though - and paying out switching bonuses (and lottery prizes, and compensation for IT failures) is perhaps why Nationwide feel unable to increase their savings interest rates.

Your argument is a non sequitur.

@murphydavid said vote with your feet.

All I am saying is that it is counter intuitive to walk away from a building society that is still offering good incentives. 

Edit: Just for clarification, I was responding to @murphydavid not @Daliah.

The order of the previous posts was reversed.

Which part didn't follow?  There's a fact (the status of the switching bonus), and speculation why Nationwide feel unable to increase their savings interest rates.

I assumed "vote with your feet" wasn't limited to meaning closing all your accounts and having no further relationship with the FI - it can apply equally to removing all but minimum balances from accounts that don't offer a competitive savings rate - a practice which many of us MSE'ers no doubt follow.

RG2015

Section62 said:

RG2015 said:

Section62 said:

RG2015 said:

murphydavid said:

Vote with your feet.
Foot voting - WikipediaDaliah said:

Nationwide should be ashamed of their abysmal savings rates.

Why? They still have a very competitive 2.5% regular saver and currently have a £125 switching bonus for members.

The switching bonus isn't an interest rate though - and paying out switching bonuses (and lottery prizes, and compensation for IT failures) is perhaps why Nationwide feel unable to increase their savings interest rates.

Your argument is a non sequitur.

@murphydavid said vote with your feet.

All I am saying is that it is counter intuitive to walk away from a building society that is still offering good incentives. 

Edit: Just for clarification, I was responding to @murphydavid not @Daliah.

The order of the previous posts was reversed.

Which part didn't follow?  There's a fact (the status of the switching bonus), and speculation why Nationwide feel unable to increase their savings interest rates.

I assumed "vote with your feet" wasn't limited to meaning closing all your accounts and having no further relationship with the FI - it can apply equally to removing all but minimum balances from accounts that don't offer a competitive savings rate - a practice which many of us MSE'ers no doubt follow.

Thank you for your explanation @Section62,

I have to admit that I did assume that vote with your feet was a suggestion to walk away from the FI (I like this term!).

I had not considered that it could refer to selective foot voting, but accept that this could be a reasonable inference.

And finally I could even be hoist by my own (non sequitur) petard, by countering a claim about interest rates with one about a switching bonus.

Molehusband

RG2015 said:

murphydavid said:

Vote with your feet.
Foot voting - WikipediaDaliah said:

Nationwide should be ashamed of their abysmal savings rates.

Why? They still have a very competitive 2.5% regular saver and currently have a £125 switching bonus for members.

They also have the start to save regular saver account at a decent 1.25%.

All banks are rubbish at times but it doesn't stop me opening their accounts with good rates or features..

Yes, you've reminded me that I too have a Start to Save account but I'm not aware that it is classed as a "regular saver". From what I recall, you have the option to deposit up to £100/month. However, it's not mandatory to make a deposit monthly which differs from being a "regular saver". Unfortunately I can no longer find it listed on their website:
https://www.nationwide.co.uk/savings/compare-savings-accounts-and-isas/
which now makes it a bit of a mystery product.

eskbanker

Molehusband said:

Unfortunately I can no longer find it listed on their website:
https://www.nationwide.co.uk/savings/compare-savings-accounts-and-isas/
which now makes it a bit of a mystery product.

https://www.nationwide.co.uk/savings/help/terms/start-to-save/