The Lemon Fool

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

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

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

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!

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.

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!

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

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.

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

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.

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

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. 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.

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

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

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