Nationwide Building Society Loyalty!

[Deleted User]

blue_max_3 said:

I do wonder if Nationwide are in trouble. Seems they are trying to stop these trivial sums going out to savers. Surely they shouldn't be encouraging people to invest more than the FSCS protected limit. Avoid like the plague!

Doubt it nor are they encouraging anything.
They are just removing a restriction on a formally loss leading account.

[Deleted User]

typistretired said:

d63 said:

ah! some good news at last for nationwide loyalty savers!!
 (this from the latest email they've sent me!) --->

"Some news for our Loyalty Savers

If you took out a Loyalty Saver account after 3 July 2013, your savings limit will be increasing from £100,000 to £5 million from 1 May 2020. This change has been updated in the account’s Terms and Conditions." gosh!

Yes!  I had to check the calendar to make sure it wasn't April 1st.  The sad thing is that a lot of pensioners only ever used the High Street for their savings.  Do not have a passport or driving licence and find it very difficult to open any decent accounts.

I thought the baby boomers hold much of the country's wealth?
All the pensioners I know definitely have Passports as they are away several times a year.
They have Saga that caters directly for them and access to everything else too.

margaretx9

blue_max_3 said:

I do wonder if Nationwide are in trouble. Seems they are trying to stop these trivial sums going out to savers. Surely they shouldn't be encouraging people to invest more than the FSCS protected limit. Avoid like the plague!

Seem to have plenty of money for a very long advert on Sky News tonight - which said absolutely zilch about savings and mortgages or any products just about how they care about their 15 million members!

Sapphire

dahj said:

typistretired said:

d63 said:

ah! some good news at last for nationwide loyalty savers!!
 (this from the latest email they've sent me!) --->

"Some news for our Loyalty Savers

If you took out a Loyalty Saver account after 3 July 2013, your savings limit will be increasing from £100,000 to £5 million from 1 May 2020. This change has been updated in the account’s Terms and Conditions." gosh!

Yes!  I had to check the calendar to make sure it wasn't April 1st.  The sad thing is that a lot of pensioners only ever used the High Street for their savings.  Do not have a passport or driving licence and find it very difficult to open any decent accounts.

I thought the baby boomers hold much of the country's wealth?
All the pensioners I know definitely have Passports as they are away several times a year.
They have Saga that caters directly for them and access to everything else too.

None of the pensioners I know are away several times a year, and they are not in touch with Saga for anything. Not sure what is meant by 'and access to everything else too'.

thor

margaretx9 said:

blue_max_3 said:

I do wonder if Nationwide are in trouble. Seems they are trying to stop these trivial sums going out to savers. Surely they shouldn't be encouraging people to invest more than the FSCS protected limit. Avoid like the plague!

Seem to have plenty of money for a very long advert on Sky News tonight - which said absolutely zilch about savings and mortgages or any products just about how they (pretend to) care about their 15 million members!

Corrected your post for you

epm-84

Received a text from Nationwide saying my ISA transfer away from Nationwide has been delayed due to them being extremely busy at the moment.  Maybe if they hadn't reduced interest rates so drastically and launched new products at a time when so many of their staff are working from home or self-isolating they wouldn't be so busy.

Sailtheworld

Well Nationwide can count on my loyalty - my mortgage rate is 1.19%.

blue_max_3

Sailtheworld said:

Well Nationwide can count on my loyalty - my mortgage rate is 1.19%.

I know, they wanted me to fund it! 

sairy.gamp

worldtraveller said:

newatc said:

Nationwide are massively cutting their savings rates from May. Account such as Loyalty Saver (currently 1.1%) and Loyalty Single Access (currently 1.4%) reduced to a measly 0.25%. So much for loyalty! 

The BOE base rate is now 0.1%, so why do you believe that 0.25% is still not rewarding loyalty?

Well, when you get your annual voting pack from any of these 'run for the benefit of it's members' Mutuals, take a look at the salaries paid to all the swarm of executive and non-executive directors that are scrambling for re-election. Then read the 'all about me' blurb each one has contributed about themselves and how many other boards they sit on and how many commitees they chair etc. etc. It is amazing how these versatile individuals can do justice to so many jobs at once when they generously donate only a portion of their working week to each one. Ask yourself - how many rounds can your milkman or window cleaner do all at the same time and still do the job justice? Benefits of Mutuality - Bah! Humbug!

2010

sairy.gamp said:

worldtraveller said:

newatc said:

Nationwide are massively cutting their savings rates from May. Account such as Loyalty Saver (currently 1.1%) and Loyalty Single Access (currently 1.4%) reduced to a measly 0.25%. So much for loyalty! 

The BOE base rate is now 0.1%, so why do you believe that 0.25% is still not rewarding loyalty?

Well, when you get your annual voting pack from any of these 'run for the benefit of it's members' Mutuals, take a look at the salaries paid to all the swarm of executive and non-executive directors that are scrambling for re-election. Then read the 'all about me' blurb each one has contributed about themselves and how many other boards they sit on and how many commitees they chair etc. etc. It is amazing how these versatile individuals can do justice to so many jobs at once when they generously donate only a portion of their working week to each one. Ask yourself - how many rounds can your milkman or window cleaner do all at the same time and still do the job justice? Benefits of Mutuality - Bah! Humbug!

Vote with yoiur feet and do what I did.
Move your money.
That`s the only vote these people will understand. (maybe)