Latest news with #NATIONWIDE
Scottish Sun
17 hours ago
- Business
- Scottish Sun
Nationwide customers could make up to £759 by making simple switch
Plus, find out the best interest rates you can get on savings accounts right now BANKING BOOST Nationwide customers could make up to £759 by making simple switch NATIONWIDE customers can get a huge boost to their savings of up to £759 thanks to a new offer. The building society is Nationwide members exclusive access to a new Member Exclusive Bond account. 1 Nationwide is offering its customers a new savings account with a 5% fixed interest rate Credit: Alamy The 18-month fixed term account comes with a very attractive 5% interest rate - and it means you can get a great return on your savings. You can put anything between £1 to £10,000 into the account. If you save away the maximum £10,000, you'll get a huge return of £759 at the end of the 18 months. According to the best fixed-rate bond savings accounts up to one year offer rates of 4.45%. That makes the Member Exclusive Bond account one of the best options if you want to lock your money away in a fixed-rate account. However there are some terms and conditions you'll need to meet to be eligible to open the account. Firstly you'll need to be an existing Nationwide member - which just means you need to have a bank account, savings account or mortgage with the building society. You'll also need to be aged 16 or over, be registered to use the internet bank and have a valid email address. Once you've started the process of opening an account, you'll have two weeks to add funds to it. If you don't make a payment into the account in that time then your account will be closed. Inside the hubs restoring high street banking and reversing the tide of mass branch closures You can close the account within the same two-week timeline if you would like. But like with other fixed-term accounts, you won't be able to take money out of the account or close it before the end of the term. The interest is paid annually on the date the account was first opened. So if you opened your account tomorrow then you would receive your interest payment when the account matures on June 8 2026. What is a fixed-term account and what other options are there? A fixed-term savings account generally means your money is locked away for a fixed amount of time - such as one year, two years or five years. You'll receive a fixed interest rate that won't change over this time. Usually fixed-term accounts have higher interest rates than easy access savings accounts. Fixed accounts are best if you know you won't need your money for a certain amount of time but want to get more return on your savings. If you want to be able to get your money more easily, you are better off looking at easy access savings accounts. These might offer unlimited withdrawals, or a set number of withdrawals per year. Another option for putting away your savings is to look at ISAs, which allow you to save up to £20,000 tax-free per year. You can either go for a Cash ISA which is more similar to having a standard savings account, or if you are willing to take on more risk you can look at Stocks and Shares ISAs. These let you use your tax-free ISA allowance to invest in the stock market. Of course, another option is to look at investing. You can see our ultimate beginner's guide to investing here. What are the best interest rates around right now? Cash ISAs are currently paying some of the best interest rates - although bear in mind you can only save away up to £20,000 in these per tax year. The top easy-access rate right now is Plum's 4.85% Cash ISA. This includes a 1.57% 12-month bonus, so it's worth noting down to switch after a year as your rate will drop dramatically then. You should also be aware that your rate will drop if you withdraw more than three times a year, so this is best if you're not planning to withdraw often. A similar option is Chip's Cash ISA deal, which has an interest rate of 4.82% but allows unlimited penalty-free withdrawals. If you have more than £20,000 to save, Atom Bank has an easy access account with a rate of 4.75%. However the interest rate drops in any month you withdraw so it's best if you just want to store money. If you're looking for a one-year fixed account, Cynergy Bank pays the top rate at 4.4% and can be opened with a minimum of £1,000. The top two-year fix is only slightly higher at 4.43% and it comes from Birmingham Bank. It can be opened online with a minimum of £5,000.
Scottish Sun
3 days ago
- Business
- Scottish Sun
Exact code to spot when £100 Nationwide payment lands in millions of accounts within weeks – will you be better off?
If you are not a Nationwide customers don't worry as we share other banks giving away free cash CASH HELP Exact code to spot when £100 Nationwide payment lands in millions of accounts within weeks – will you be better off? NATIONWIDE customers have been told the exact code to look out for to confirm a £100 payment has landed in their accounts. The high street lender is giving away the cash as part of its Fairer Share programme. 1 Nationwide customers have been told the exact code to look out for when the £100 cash lands in their accounts Credit: Getty The payment goes to members who bank with Nationwide regularly. Those who have a savings account or mortgage product could also qualify. Customers can expect the cash to land in their accounts between June 18 and July 4. And there is a code that customers should look out for on their bank statements to ensure they have received the cash - it is Nationwide Fairer Share Payment. But you must have opened a main current account with Nationwide by March 31 to get your hands on the money. You would have needed to have £100 in savings or owe £100 on your mortgage by that date. You also will need to have used your account within the first three months of this year. This is the third year that Nationwide has given away free cash to customers. Last year, it paid out a total of £385million to 3.85million customers and the year before £340million to 3.4million people. Back in December, the building society's boss confirmed it would make the payment for a third time. Major bank paying out £100 to customers It's worth noting, the £100 Fairer Share payment is separate to the £50 issued to around 12million Nationwide customers between April 9 and May 14. Recently the bank has also launched a new £200 switching offer to treat customers who sign up for its new bond. Nationwide's member inclusive bond is available to sign up to for all 16 million existing members and can be opened in branch, online or via the Banking App. This is a fixed-rate savings bond available only to Nationwide members. BANKING FREEBIES Nationwide is not the only bank giving customers free cash. TSB is giving new customers who switch to the high street bank a £100 switching incentive. You get the £100 upfront but if you spend on your debit card for 20 times in the first six months you get a £15 a month cashback. Santander has launched a new switching incentive to lure in customers. As part of the deal, customers will receive £180 within 90 days of making the switch. Cusomers need to pay £1,500 into the account within 60 days. This does not have to be deposited all at once. Customers must also set up two active household direct debits on the new account. This can include your council tax, mobile phone, home phone, broadband, paid-for TV packages, water, gas and electricity bills. Co-op Bank is also paying £175 to new customers.
Scottish Sun
25-05-2025
- Business
- Scottish Sun
Nationwide to make big change to bank accounts in DAYS affecting millions – and customers need to check now
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) NATIONWIDE is making a major change to dozens of bank accounts in days affecting millions. The major building society is slashing interest rates on more than 60 savings accounts from next Sunday (June 1). Sign up for Scottish Sun newsletter Sign up It comes after the Bank of England (BoE) cut its base rate from 4.75% to 4.5% in February. The base rate is the rate charged to smaller high street banks and is usually mirrored in savings rates. Nationwide is cutting rates on 63 of its savings accounts on June 1, from easy-access ISAs to children's accounts. The Branch Smart Limited Child account will drop from 3.05% to 2.85%, on accounts where one or no withdrawals have been made. Customers with the same account who have made two or more withdrawals won't see their interest rate (1.80%) change. Meanwhile, bankers with a Continue to Save account will see their interest rate slashed from 2.10% to 2% from next Sunday. The Help to Buy: ISA account is dropping 0.2 percentage points from 3.10% to 2.90%. How much the interest rate on your account is cut may depend on how much you have saved. For example, if you've got a Branch Flex Saver account and a balance between £0.01 and £9,999, the interest rate will drop from 1.85% to 1.60% on June 1. However, if you have £10,000 to £49,999 stashed away, the rate will fall from 1.90% to 1.65% instead. Switch bank accounts for free perks You can see how much each savings account is affected by looking at the table above. The move from Nationwide comes after a host of banks confirmed they will lower interest rates on savings accounts following two cuts to the BoE base rate. The central bank earlier this month cut the rate further, from 4.5% to 4.25%, prompting HSBC to announce it will cut rates on eight of its savings accounts from June 3. NatWest is also cutting rates on a number of accounts from the end of this month, while Newcastle Building Society is dropping rates on 37 of its personal savings accounts from June 5. What you should do now It doesn't matter who you bank with, if you're expecting the interest rate on a savings accounts to drop soon it's time to take action. It pays to shop around for the best deal so you're not left shortchanged. Use price comparison sites like or to browse the best savings accounts on the market. But make sure you look beyond the headline savings rate on offer. Plenty of savings accounts come with bonus rates which are only available for a set period after you open them, after which they drop off leaving you with meagre returns. Others will only offer you a specific interest rate if you make a limited number of withdrawals each year. Go over this withdrawal limit and the interest rate can plummet. Some savings accounts offer additional perks which can make them more worth your time too. SAVING ACCOUNT TYPES THERE are four types of savings accounts fixed, notice, easy access, and regular savers. Separately, there are ISAs or individual savings accounts which allow individuals to save up to £20,000 a year tax-free. But we've rounded up the main types of conventional savings accounts below. FIXED-RATE A fixed-rate savings account or fixed-rate bond offers some of the highest interest rates but comes at the cost of being unable to withdraw your cash within the agreed term. This means that your money is locked in, so even if interest rates increase you are unable to move your money and switch to a better account. Some providers give the option to withdraw, but it comes with a hefty fee. NOTICE Notice accounts offer slightly lower rates in exchange for more flexibility when accessing your cash. These accounts don't lock your cash away for as long as a typical fixed bond account. You'll need to give advance notice to your bank - up to 180 days in some cases - before you can make a withdrawal or you'll lose the interest. EASY-ACCESS An easy-access account does what it says on the tin and usually allows unlimited cash withdrawals. These accounts tend to offer lower returns, but they are a good option if you want the freedom to move your money without being charged a penalty fee. REGULAR SAVER These accounts pay some of the best returns as long as you pay in a set amount each month. You'll usually need to hold a current account with providers to access the best rates. However, if you have a lot of money to save, these accounts often come with monthly deposit limits. For example, the Club Lloyds account comes with rewards including 12 months of Disney+ for free, six cinema tickets or discounted coffee. There is a £3 fee to maintain the account though, which is rising to £5 from June 2. In other news, Nationwide is set to reveal whether customers are in line for another £100 Fairer Share payment within days. The building society said it will reveal whether a third successive payment will be issued when it reveals its full-year results on May 29. Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
Scottish Sun
16-05-2025
- Business
- Scottish Sun
Nationwide banking app down as customers complain about delays to payments
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) NATIONWIDE is down, leaving customers unable to receive payments. Customers began to report the issue last night, with some complaining that their payments are listed as pending in the mobile app. Sign up for Scottish Sun newsletter Sign up 1 Nationwide customers have reported issues with its mobile app Credit: Alamy More than 200 users have logged the issue on Downdetector, which monitors the status of online services and reports outages in real time. The building society has now confirmed the issue in a response to customers. In a message on its website, it said: "Some incoming payments are delayed at the moment. Everything else is working normally." Nationwide said that it is working to get things back to normal as quickly as it can. If you are waiting for an incoming payment then you do not need to do anything. Nationwide said your payment is in a queue and will arrive as soon as possible. Direct debits and standing orders are still working as normal. This means you can continue to send money from your account as usual and move money between Nationwide accounts. You can also use your cards online and in shops and log in to the building society's internet bank and banking app. Withdrawals from cash machines are also unaffected. Doubling Compensation for Water Issues: Government's Big Move Customers have taken to social media website X to voice their frustration at the outage. One said: "When are we actually going to get our payments I've been waiting nearly an hour." Another said: "R payments delayed? I'm waiting on my pip to be paid in." A third said: "I think you ought to do some checks as issues are there. I have sent a payment through the fast payment system from my Barclays account and it hasn't gotten to the Nationwide account I sent it to. Can I claim compensation for bank outages? IF you've been impacted by a bank outage, your right to some money back is usually based on how much the issue has affected you. This is because banks don't have a fixed compensation scheme for service disruption. If you're thinking about making a complaint, you'll need to gather evidence about how you were disrupted. Try to make a note of when you were unable to access the website or app, plus any costs you incurred as a result. If your credit rating has been affected by a service outage, because you got a late payment fee after being unable to make a transaction, for example, you should also keep a record of this. You'll also want to make note of any bank member you spoke to when trying to resolve the issue. If you're unhappy with how the bank dealt with your problem, you can contact the free Financial Ombudsman Service (FOS). "it usually arrives in the Nationwide account in seconds." Nationwide has been approached for comment. Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
The Sun
16-05-2025
- Business
- The Sun
Nationwide banking app down as customers complain about delays to payments
NATIONWIDE is down, leaving customers unable to receive payments. Customers began to report the issue last night, with some complaining that their payments are listed as pending in the mobile app. 1 The building society has now confirmed the issue in a response to customers. In a message on its website, it said: "Some incoming payments are delayed at the moment. Everything else is working normally." It said that it is working to get things back to normal as quickly as it can.
