Nationwide Triple Access Online Saver

Albermarle

Malchester said:

MoneyMate said:

Daliah said:

MoneyMate said:

Hi Hallmark, I had the same problem, you have to close your old accounts down, ( interest earned will be transferred to your nominated account ) then open the new 0.70 account and transfer in what you want.

Why would you keep your money in an account that comes with various restrictions and that doesn't pay the best rate in the market?

Loyalty ( a tradition somewhat dying out )

Loyalty goes both ways. I have not had savings with Nationwide for a few years now. As a loyal customer of over 30 years (with current account the only account still with them) I have been appalled that they can use the word 'loyal' alongside the rates they have offered longstanding customers and still say they are special for us.

I used to have all of my cash savings and current account with them . Their interest rates were never the very best, but they were always reasonably competitive and they stayed competitive even when rates were moving. So I was a loyal mutual customer.
Nowadays I still have the current account and a small easy access savings account, but the bulk of my savings have gone elsewhere. Apart from that they also never seem to be competitive for home insurance, travel insurance etc

newatc

I agree with all those disappointed with Nationwide who as a mutual should be expected to provide competitive rates and I passed that on to a Customer Services, very politely as they are not responsible, in a recent call.
I think the rate on a Nationwide Easy Access Saving account is 0.35% while Yorkshire BS , another mutual, has a corresponding savings account at 0.77%. That says it all.

1882

As us account holders own the Nationwide in theory we could change things. If enough voted to do so we could compel them to return all profits (after the necessary amounts set aside for regulatory purposes) to members in interest rates or a dividend.

Daliah

1882 said:

As us account holders own the Nationwide in theory we could change things. If enough voted to do so we could compel them to return all profits (after the necessary amounts set aside for regulatory purposes) to members in interest rates or a dividend.

Good luck getting this onto the AGM agenda 

Section62

Daliah said:

1882 said:

As us account holders own the Nationwide in theory we could change things. If enough voted to do so we could compel them to return all profits (after the necessary amounts set aside for regulatory purposes) to members in interest rates or a dividend.

Good luck getting this onto the AGM agenda 

This is the problem with Nationwide's 'democratic' process - the bar to get anything (other than corporate initiated items) put onto the agenda is set so high that there is no realistic prospect of member's voices being heard.  The processes put in place to protect mutualism have become a potential threat to member's interests.

[Deleted User]

They had good customer service and competitive products but most of their competitors failed or were taken over plus a certain person recommended that people take out their current account for loss leading overseas usage only..

It acts like a bank without having to answer to shareholders now.