Nationwide Building Society rewards its members...
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- Lemon Quarter
- Posts: 2763
- Joined: November 5th, 2016, 8:43 am
Nationwide Building Society rewards its members...
.....with sweet FA.
'As a Building Society we're always looking for ways to give a little something back to our members.'
A kick in the teeth springs to mind.
https://www.nationwide.co.uk/products/s ... 2359183402
Even Monzo Bank are offering 0.96%, and that's 'after' taking their cut from the bank offering those rates!
https://monzo.com/features/savings/
I like the picture of the woman in the ad. That forced smile and slight hint of the violence about to erupt when she realises that she will be charged for the teeth they made her wear.
Steve
'As a Building Society we're always looking for ways to give a little something back to our members.'
A kick in the teeth springs to mind.
https://www.nationwide.co.uk/products/s ... 2359183402
Even Monzo Bank are offering 0.96%, and that's 'after' taking their cut from the bank offering those rates!
https://monzo.com/features/savings/
I like the picture of the woman in the ad. That forced smile and slight hint of the violence about to erupt when she realises that she will be charged for the teeth they made her wear.
Steve
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- Lemon Half
- Posts: 6263
- Joined: November 4th, 2016, 11:35 am
Re: Nationwide Building Society rewards its members...
I've moved everything out of Nationwide apart from £100 in my FlexAccount
Not sure if it's worth remaining a 'member' on the 0.0001% chance they demutualise -my membership predates the windfall signaway clause
Not sure if it's worth remaining a 'member' on the 0.0001% chance they demutualise -my membership predates the windfall signaway clause
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- Lemon Quarter
- Posts: 1562
- Joined: November 4th, 2016, 3:54 pm
Re: Nationwide Building Society rewards its members...
Well in the current low interest environment I don't think 0.5% with the chance of a win in the draw is such a bad deal.
0.5% on £10K = £50pa.......you might get 0.8% from another bank......so you are gambling the loss of £30 for the chance of a win in the draw.
0.5% on £10K = £50pa.......you might get 0.8% from another bank......so you are gambling the loss of £30 for the chance of a win in the draw.
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- Lemon Half
- Posts: 7479
- Joined: November 4th, 2016, 6:11 pm
Re: Nationwide Building Society rewards its members...
You get 0.5% p.a., plus 0.5% of your deposit is put in the prize pot - but you have to be in it for 18 months so the average annual return would be 2/3 of 0.5% + 0.5% = 0.83%.stevensfo wrote:.....with sweet FA.
'As a Building Society we're always looking for ways to give a little something back to our members.'
A kick in the teeth springs to mind.
https://www.nationwide.co.uk/products/s ... 2359183402
Of course most people will only get the 0.5%.
Scott.
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- Lemon Quarter
- Posts: 2763
- Joined: November 5th, 2016, 8:43 am
Re: Nationwide Building Society rewards its members...
richlist wrote:Well in the current low interest environment I don't think 0.5% with the chance of a win in the draw is such a bad deal.
0.5% on £10K = £50pa.......you might get 0.8% from another bank......so you are gambling the loss of £30 for the chance of a win in the draw.
Crikey, that reminds my of those old Readers Digest ads! 'I may lose the chance of a win in the draw?'
As someone who was educated, steep learning curve, etc, by TMF, I couldn't give a monkey's about the interest rates. Yes, they're important, but the overall aim is to at least keep up with the RPI inflation rate.
So if RPI is 2%, with Nationwide's 0.5%, you are losing 1.5% of your money per year.
With Monzo's 0.96 (or better if you go direct to Charter Bank), you lose 1.04% of your money per year.
If this had all occurred 50 years ago, people would have just shrugged and kept their money in their UK P.O. account. Apart from NS&I, there is nothing similar any more. Your best bet is to keep all your cash in a well-hidden safe.
Steve
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- Lemon Quarter
- Posts: 4547
- Joined: November 4th, 2016, 12:04 pm
Re: Nationwide Building Society rewards its members...
I can only see 0.5% at CB Steve?stevensfo wrote: With Monzo's 0.96 (or better if you go direct to Charter Bank), you lose 1.04% of your money per year.
https://www.chartersavingsbank.co.uk/AtAGlance
cheers
didds
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- Lemon Quarter
- Posts: 2763
- Joined: November 5th, 2016, 8:43 am
Re: Nationwide Building Society rewards its members...
If you go here:didds wrote:I can only see 0.5% at CB Steve?stevensfo wrote: With Monzo's 0.96 (or better if you go direct to Charter Bank), you lose 1.04% of your money per year.
https://www.chartersavingsbank.co.uk/AtAGlance
cheers
didds
https://monzo.com/features/savings/
Scroll down to the Fixed rates. Charter is offering 0.96% for 1 year.
I understand that Monzo take their cut so you should get more direct with Charter, but I like the convenience of doing everything via one bank.
Be quick though. That 0.96% was 1.02% last week!
Steve
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- Lemon Quarter
- Posts: 2195
- Joined: November 4th, 2016, 4:20 pm
Re: Nationwide Building Society rewards its members...
But they do reward members (and the rest of us poor souls) with some toe curlingly "right on" poetry in their TV adverts.
More than enough to make me avoid them like the plague.
Unless they paid good interest, of course
More than enough to make me avoid them like the plague.
Unless they paid good interest, of course
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- Lemon Quarter
- Posts: 1562
- Joined: November 4th, 2016, 3:54 pm
Re: Nationwide Building Society rewards its members...
They also offer very useful travel insurance that's included with their Nationwide Flex Plus A/C which includes cover for CV19.
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- Lemon Slice
- Posts: 851
- Joined: November 7th, 2016, 4:21 pm
Re: Nationwide Building Society rewards its members...
yes includes covid.............but read T and Cs...its not a complete coverrichlist wrote:They also offer very useful travel insurance that's included with their Nationwide Flex Plus A/C which includes cover for CV19.
plus max trip is 30 days
plus extra cost for even simple medical issue..ie high blood pressure....well established and entirely under control by doc...but extra premium
plus extra if over 69
and dont forget £13 a month
but its probably a good deal if you young , no mediacl issues and dont go abroad for extended stays
you would probably have a smartphone as well...so 'free' insurance...(big XS)
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- Lemon Quarter
- Posts: 4547
- Joined: November 4th, 2016, 12:04 pm
Re: Nationwide Building Society rewards its members...
People are still travelling abroad, to need travel insurance? (rhetorical)
Or does said insurance also cover airbnb trips within the UK?
Or does said insurance also cover airbnb trips within the UK?
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- Lemon Pip
- Posts: 50
- Joined: November 18th, 2016, 11:02 am
Re: Nationwide Building Society rewards its members...
Covers any trip of 2 nights or more, doesn't cover 1 night stay.
Beseeinyou
Beseeinyou