NatWest Savings Builder rate reduction to 0.25% (and RBS too)

sausage_time

@st182 - my first credit card too!  "Your Flexible Friend...."

I wonder how long before NatWest/RBS hose the Regular Savings Account (3% at the moment).

eddie7612

sausage_time said:

@st182 - my first credit card too!  "Your Flexible Friend...."

I wonder how long before NatWest/RBS hose the Regular Savings Account (3% at the moment).

Probably less likely, they seem to be pushing them quite hard whenever I log out (although I already have it). Cheap way to generate a bit of hype/customer loyalty, isn't the max interest something like £9/year and not everyone will make the max deposit, no withdrawals etc. I expect regular savers for the big banks are more of a marketing device than about raising deposits.

RG2015

The RBS and NatWest websites are still promoting this account at 0.75% without any mention of the rate reduction on 16th February.

If anyone has opened an account over the weekend or this week before they announce the reduction they will have every right to be aggrieved. I guess they may advise these people when they apply but it is still a rather poor show from NatWest/RBS.

mika_dm

RBS just sent me an email to announce their savings % reduction to 0.25%. I already looked for close account form.

veryintrigued

My interest has been paid today so I've emptied my accounts and removed the standing order.

I haven't received any official notification though

RG2015

veryintrigued said:

My interest has been paid today so I've emptied my accounts and removed the standing order.

I haven't received any official notification though

If you have over £100, they need to give 14 days notice by email, letter or secure message in online banking today.

If you have emptied your account they may not now be advising you personally.

JamesPeter

Just recevied the e-mail of (un)great joy from Natwest bearing the news that from 16th Feb it is down to 0.25%:

Oh well, it was good whilst it lasted!

RG2015

Finally, NatWest and RBS have put a note on their respective websites on the Savings Builder page.

bubieyehyeh

I've yet to receive any notification of the interest rate change from NW.

[Deleted User]

They sent me it via email but I had already closed it funnily enough as I needed the cash elsewhere, the 3% one still hanging in there as I won't get to £1000 in it for a while yet. Once the Provident 1.5% and Coventry 1.85% end, going to be a pittance for the next few years for cash, might end up chucking more cash in the S&S ISA, least that is giving good returns