Nationwide cutting 5% rate

bristolleedsfan

roddydogs said:

Yet they cann still keep the £100 refer a friend?

Has been paused.

margaretx9

Wonder when other banks will similarly cut their current account rates?
Nationwide give very little notice as well - often one month - whereas the banks give up to 3. Much be that caring sharing we look after our members thing!
Glad I have just opened my new HSBC and FD regular savers paying 2.75% - M&S due to renew later this month so hope they don't cut their regular saver rate - one for the savings forum I know. 

Ed-1

The 5% is fixed for anyone who opens a FlexDirect (who hasn't had one previously) this month though.

Also the refer a friend scheme has been closed/paused.
https://www.nationwide.co.uk/support/support-articles/important-information/recommend-a-friend-closure

d63

oh good grief! they are reducing their "loyalty" ISA from 1.4% to 0.25%??
and i was planning to transfer my santander e-isa which has just come to an end of its 1.5% rate and is now 0.6% and scheduled to go down again to 0.1% after 22nd may!! 
jeepers creepers! this is getting ridiculous!!

roddydogs

bristolleedsfan said:

roddydogs said:

Yet they cann still keep the £100 refer a friend?

Has been paused.

About time, but what its go to do with CV, is a mystery.

bristolleedsfan

d63 said:

jeepers creepers! this is getting ridiculous!!

They are all acting like a cartel, race to = bottom, YBS have slashed its highest paying accounts as well by similar margins in excess of Base rate reductions.

roddydogs

Looks like  Cynergys 1.31 ea isa and Coventrys 1.25 EA Isa is also gone!

StevieJ

Ed-1 said:

The 5% is fixed for anyone who opens a FlexDirect (who hasn't had one previously) this month though.

Also the refer a friend scheme has been closed/paused.
https://www.nationwide.co.uk/support/support-articles/important-information/recommend-a-friend-closure

You mean so far this month, I presume?

Ed-1

StevieJ said:

Ed-1 said:

The 5% is fixed for anyone who opens a FlexDirect (who hasn't had one previously) this month though.

Also the refer a friend scheme has been closed/paused.
https://www.nationwide.co.uk/support/support-articles/important-information/recommend-a-friend-closure

You mean so far this month, I presume?

No it stays that way for accounts opened before 1st May 2020.

adonis

bristolleedsfan said:

d63 said:

jeepers creepers! this is getting ridiculous!!

They are all acting like a cartel, race to = bottom, YBS have slashed its highest paying accounts as well by similar margins in excess of Base rate reductions.

When I got the news from YBS I thought about moving funds but where do you go to,

as you say it is like a cartel.