Natwest Savings Builder reducing from 1.5% to 1% from 20th April

RG2015

As per title. This was in the Daily Mail on 13th March. How did everyone miss it until now?

Thanks to @afis1904 on the regular savings thread (links below to that and to the Daily Mail)

https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p26

https://www.thisismoney.co.uk/money/news/article-8110675/Banks-withdraw-savings-accounts-base-rate-cut-record-low.html

PS: This was just in response to the first reduction of base rate to 0.25%. Will they further reduce it to reflect the drop to 0.1%?

veryintrigued

Thanks for the heads up on this. I've not been advised of this by NatWest.

Anyone else?

More grim news.
Wonder if RBS will mirror this in their identical offering.

SaverRate

I heard about this but haven't received anything from Natwest?

surreysaver

Club Lloyds and Bank of Scotland current accounts here we all come! 

st182

ahhhhhh thanks for sharing, I hadn't seen either- change of tactic from me now then ta

RG2015

HarryDavies01 said:

I heard about this but haven't received anything from Natwest?

Their website quotes that they will give at least 14 days notice for accounts with balances of at least £100

For accounts with less than £100 they will inform you before the change or shortly afterwards. 

RG2015

surreysaver said:

Club Lloyds and Bank of Scotland current accounts here we all come! 

Are rates anywhere safe? I can see this becoming a race to the bottom.

SaverRate

RG2015 said:

HarryDavies01 said:

I heard about this but haven't received anything from Natwest?

Their website quotes that they will give at least 14 days notice for accounts with balances of at least £100

For accounts with less than £100 they will inform you before the change or shortly afterwards. 

I assume we will be getting an email/letter soon then!

MovingForwards

Nothing showing on the website or account info, shame, that bit extra per month helped.

RG2015

MovingForwards said:

Nothing showing on the website or account info, shame, that bit extra per month helped.

The shame is all with NatWest/RBS for telling the media 18 days ago and still not yet notifying their customers either directly or via their website.

eskbanker

RG2015 said:

As per title. This was in the Daily Mail on 13th March. How did everyone miss it until now?

It would seem to suggest that the Venn diagram comprising 'savvy MSE savers' and 'Daily Mail readers' doesn't have much of an intersection, read into that what you want!