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Nationwide abandons Loyalty

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AJC5001
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Nationwide abandons Loyalty

#423734

Postby AJC5001 » June 30th, 2021, 2:03 pm

Nationwide will be removing the tiered interest rates based on length of membership from 13th August 2021

https://www.nationwide.co.uk/-/media/MainSite/documents/products/savings/support/smd238.pdf

At least they are increasing all lower rates to the 15 year plus rate of 0.25%.

Yet another Nationwide change to remove any advantage to holding an account with them :(

Adrian

AleisterCrowley
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Re: Nationwide abandons Loyalty

#423738

Postby AleisterCrowley » June 30th, 2021, 2:22 pm

I got out of Nationwide a year or so back , removing about £50k
I still have £100 in a current account with them just in case they convert (my membership predates the signing over of windfall rights)
Chances of that happening about 0.01% I reckon

pje16
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Re: Nationwide abandons Loyalty

#423740

Postby pje16 » June 30th, 2021, 2:35 pm

Not directly related but
I get the impression banks are doing more and more to put people off using them
Cannot remember the last time I went into a branch

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Re: Nationwide abandons Loyalty

#423756

Postby XFool » June 30th, 2021, 3:42 pm

AJC5001 wrote:Nationwide will be removing the tiered interest rates based on length of membership from 13th August 2021

Yet another Nationwide change to remove any advantage to holding an account with them :(

Because they are increasing their lower saving interest rate bands up to their current maximum rate band? Strange!

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Re: Nationwide abandons Loyalty

#423758

Postby XFool » June 30th, 2021, 3:44 pm

pje16 wrote:Not directly related but
I get the impression banks are doing more and more to put people off using them
Cannot remember the last time I went into a branch

Yes. The last time I went in was to deposit a cheque via the internal ATM. As it was busy I left and deposited it via the external ATM. :!:

bluedonkey
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Re: Nationwide abandons Loyalty

#423762

Postby bluedonkey » June 30th, 2021, 4:01 pm

XFool wrote:
pje16 wrote:Not directly related but
I get the impression banks are doing more and more to put people off using them
Cannot remember the last time I went into a branch

Yes. The last time I went in was to deposit a cheque via the internal ATM. As it was busy I left and deposited it via the external ATM. :!:

Visiting my local branch of Barclays to deposit an occasional cheque was always a hassle during the pandemic. Turns out I can "deposit" a cheque using their phone app. It worked brilliantly. I deposited the cheque while sitting at home!

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Re: Nationwide abandons Loyalty

#423769

Postby AleisterCrowley » June 30th, 2021, 4:25 pm

Yes, I only visit Lloyd's to pay in cheques. They have (had?) a limit on maximum value that can be deposited on the phone app - although I think this has increased recently

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Re: Nationwide abandons Loyalty

#423771

Postby Lootman » June 30th, 2021, 4:33 pm

pje16 wrote:I get the impression banks are doing more and more to put people off using them.

That has been going on for decades, at least since the 1970s when cards and cash machines came into common usage. It has got worse with telephone banking, online banking and now of course banking apps on your smartphone.

I am fighting a rearguard action against them and still visit the branch to do basic business. But I recognise that it is probably a losing battle. It would not surprise me if they attempt to charge me more for using real people and a physical location at some point.

But for now they are humouring me and tolerating me. :D

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Re: Nationwide abandons Loyalty

#423791

Postby tjh290633 » June 30th, 2021, 6:08 pm

bluedonkey wrote:
XFool wrote:
pje16 wrote:Not directly related but
I get the impression banks are doing more and more to put people off using them
Cannot remember the last time I went into a branch

Yes. The last time I went in was to deposit a cheque via the internal ATM. As it was busy I left and deposited it via the external ATM. :!:

Visiting my local branch of Barclays to deposit an occasional cheque was always a hassle during the pandemic. Turns out I can "deposit" a cheque using their phone app. It worked brilliantly. I deposited the cheque while sitting at home!

I have overcome the problems of finding a local branch by using my local sub-post-office to pay in cheques. Barclays app has some annoying features for me. I bank there for a local group, but I have a personal Barclaycard. If I register with the card, I cannot add the account to the app. They seem to have done away with the separate Barclaycard app.

TJH

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Re: Nationwide abandons Loyalty

#424160

Postby raybarrow » July 2nd, 2021, 10:14 am

Our local Lloyds is closing later this year, although it appears you can use the local Post Office opposite, for limited transactions. In fairness I only visit it to get small denomination notes or coins (so I accept that my business wouldn't justify them staying open. ATM's tend to give £20 wherever possible, I need £10, £5 and £1 coins. You can't go into any bank and just change money, you have to withdraw it or deposit it and withdraw it (if the ATM gave you £20s) but obviously only at a bank where you have an account. Bit of a pain.
It's the people without access to online banking that are being 'penalised' by these closures. 'Loyalty', isn't that a word they used in the 'Good old days'? Which, of course, worked both ways as we changed banks chasing the best rates.

Ray.

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Re: Nationwide abandons Loyalty

#424319

Postby tjh290633 » July 2nd, 2021, 11:06 pm

raybarrow wrote:Our local Lloyds is closing later this year, although it appears you can use the local Post Office opposite, for limited transactions. In fairness I only visit it to get small denomination notes or coins (so I accept that my business wouldn't justify them staying open. ATM's tend to give £20 wherever possible, I need £10, £5 and £1 coins. You can't go into any bank and just change money, you have to withdraw it or deposit it and withdraw it (if the ATM gave you £20s) but obviously only at a bank where you have an account. Bit of a pain.
It's the people without access to online banking that are being 'penalised' by these closures. 'Loyalty', isn't that a word they used in the 'Good old days'? Which, of course, worked both ways as we changed banks chasing the best rates.

Ray.

I expect that your Post Office will allow you to withdraw cash over the counter, using your debit card. If it is like ours, they will be more than willing to give you what denominations of notes or coins that you ask for.

TJH

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Re: Nationwide abandons Loyalty

#442740

Postby UncleEbenezer » September 16th, 2021, 12:26 pm

bluedonkey wrote:
XFool wrote:
pje16 wrote:Not directly related but
I get the impression banks are doing more and more to put people off using them
Cannot remember the last time I went into a branch

Yes. The last time I went in was to deposit a cheque via the internal ATM. As it was busy I left and deposited it via the external ATM. :!:

Visiting my local branch of Barclays to deposit an occasional cheque was always a hassle during the pandemic. Turns out I can "deposit" a cheque using their phone app. It worked brilliantly. I deposited the cheque while sitting at home!


Likewise. Last cheque I had was paid in using Starling's app. Better still, the last reasons I ever had for writing a cheque are now (touch wood) gone.

Of course Nationwide jumped the gun there. They closed all the local agency offices in about 2009, years before the alternatives became widely available and painless, leaving me at the time a couple of cheques a year and a real hassle paying them in. :evil: I used to think those little corners of an estate agent's office made a lot of sense: the facilities of a branch (for personal banking) at a more modest cost.

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Re: Nationwide abandons Loyalty

#442743

Postby bluedonkey » September 16th, 2021, 12:28 pm

Just to add to my previous post: the cheque limit for paying in via the Barclays app is £500.

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Re: Nationwide abandons Loyalty

#442745

Postby pje16 » September 16th, 2021, 12:33 pm

AleisterCrowley wrote:I got out of Nationwide a year or so back , removing about £50k
I still have £100 in a current account with them just in case they convert (my membership predates the signing over of windfall rights)
Chances of that happening about 0.01% I reckon

I hung onto the dregs of my mortage with the Portman years ago
moved house a few years later so was forced to redeem it
Six months later they converted, but that was back in the day when conversions were all the rage

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Re: Nationwide abandons Loyalty

#442786

Postby AleisterCrowley » September 16th, 2021, 3:19 pm

Oddly enough... I had an account with Staffordshire BS which was swallowed by the Portman , so I got a payout
And again when Portman were assimilated into N'wide

Just to prove that what goes around comes around - Staffordshire BS offices were taken over by Carillion. I had shares in Carillion, and lost the lot, probably 2 x what I gained from the BS take-overs :)


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