Nat West Savings Builder automatically downgraded to primary savings account

ashteadgirl

Just discovered my Savings builder seems to have been remotely downgraded to primary savings account with interest rate of 0.1%pa.
Contacted bank and looking into it for me but I am very interested to know if this has happened to anyone - I received no notification of this happening so am bemused and angry
TIA of replies

MovingForwards

Mine is still a SB account.

tg99

Just thought I’d check mine on the app after reading this.....it just says ‘Savings account’ as opposed to naming it exactly but assume it must still be a SB as when I click on the interest rate it says 1.5%.

MovingForwards

tg99 said:

Just thought I’d check mine on the app after reading this.....it just says ‘Savings account’ as opposed to naming it exactly but assume it must still be a SB as when I click on the interest rate it says 1.5%.

It shows SB if you log in to online banking, rather than using the app.

ashteadgirl

MovingForwards said:

tg99 said:

Just thought I’d check mine on the app after reading this.....it just says ‘Savings account’ as opposed to naming it exactly but assume it must still be a SB as when I click on the interest rate it says 1.5%.

It shows SB if you log in to online banking, rather than using the app.

tg99 said:

Just thought I’d check mine on the app after reading this.....it just says ‘Savings account’ as opposed to naming it exactly but assume it must still be a SB as when I click on the interest rate it says 1.5%.

Thanks to both of you. Mine definitely says 0.1% interest  and when click on account details it is a primary savings. Waiting for bank to come back to me as to what has happened and why. Opened current a/c with then around same time and wonder whether this may have had some effect. Understand bank busy at the moment but hope to get answer soon.

MovingForwards

Have you actually been paying in £50+ per month since you opened it?

ashteadgirl

MovingForwards said:

Have you actually been paying in £50+ per month since you opened it?

Had the  account for nearly 2 years and always been fine. Last 3 months paid in over  £1K  per month so should not be an issue . I have definitely been downgraded