Nationwide is offering free cash to customers - how to make sure you get it
Brits could be missing out on hundreds of pounds of free cash, as one major UK bank offers a market-leading rate to its customers
Nationwide customers are being given the chance to earn hundreds of pounds extra in free payments. The building society is offering a competitive 3.75% AER on its One-Year Triple Access Online Saver. While there may be better rates available, the Triple Access Saver rate remains a strong contender and could help savvy households earn some additional cash.
If you were to deposit £10,000 into the account and leave it untouched, you would earn £375 at the end of the 12-month period, demonstrating that there's good money to be made. Not only existing Nationwide customers, but also those from other banks can switch and sign up.
Under the terms of the account, savers can makeup to three withdrawals in a year without affecting the interest rate. However, making more than three withdrawals will cause the rate to drop to 1.25%, so it's worth considering this before opening the account.
This comes after finance experts warned that millions of Brits are leaving their money in low-interest accounts, where it's hardly growing at all, reports Birmingham Live.
Nationwide stated: "Online saving – limit your withdrawals, keep a better rate with our limited access savings account. Up to 3.75% AER/gross a year (variable) for 12 months.
"You can makeup to three withdrawals during the 12-month term of this account. If you make more than three, the rate drops to 1.25% AER/gross a year (variable).
"Designed for: savers who are happy to makeup to three withdrawals (during the 12-month term) without loss of interest. Savers who want to open and manage their account online using our internet bank/banking app."
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