The Top Easy Access Savings Discussion Area

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/

RG2015

Molehusband 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.

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.

Try the link below.

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

Daliah

Molehusband 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.

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.

Start To Save is no longer on offer for new applicants but  information about it is still online, not least because some people still hold the account until their 24 month term is up. In my books, it's lost its appeal after they stopped the prize draws. They also kind of insulted those with a matured Start To Save, as it morphed into a "Continue To Save" account with 0.5% AER.

NB. Not all accounts entitled Regular Save have a minimum monthly deposit requirement. See the Regular Save thread.