Latest news with #Natwest
Scottish Sun
3 days ago
- Business
- Scottish Sun
Exact date in weeks millions of Nationwide customers to get free £100 – check if you're eligible
Scroll on to find out if you qualify PAY BOOST Exact date in weeks millions of Nationwide customers to get free £100 – check if you're eligible MILLIONS of Nationwide customers are about to get a free £100 in their bank accounts in just weeks to come. The building society is handing out the cash as part of its Fairer Share scheme, rewarding loyal customers with a slice of a whopping £410million pot. 1 Nationwide customers could receive a free cash boost Credit: Getty If you qualify, the money will land between June 18 and July 4. The payment will go straight into your Nationwide current account, so you won't have to worry about any forms. To qualify, you must have opened your main current account with Nationwide by March 31 this year. On top of that, you'll need to either have a savings balance of £100 or more, or owe at least £100 on your mortgage by the same date. Plus, your account has to show some activity between January and March - so it can't just be sitting there gathering dust. An estimated four million people will pocket the payout this year. It will be the third year in a row Nationwide has rewarded customers in this way. Boss Debbie Crosbie said: 'Nationwide has had an outstanding twelve months. We returned a record £2.8billion in value to members and remain number one for customer service.' So if you're a regular Nationwide user and tick the right boxes then it's happy days. And if that wasn't enough, there's another sweetener on the table. Natwest Couch to Cash The 5k challenge The bank has just launched a £200 switching bonus for newbies, plus a Member Exclusive Bond that pays a tidy return. Anyone who saves the full £10,000 in the bond will bag £762.50 in interest over 18 months – that's £150 more than its next best offer. The £100 payment is separate from the £50 one-off bonus paid earlier this year to 12 million members. What if i don't bank with Nationwide? If you're not banking with Nationwide as yet, you will have to sit this one out unfortunately. However, it's not all doom and gloom. Other banks are getting in on the free cash action too. Santander is currently offering a free £180 for switching your current account over. 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 you debit card for 20 times in the first six months you get a £15 a month cash back. Co-op bank is also paying £175 to new customers. And its not just traditional banks offering up freebies. Customers can also cash in on free perks with popular digital banks.
Yahoo
5 days ago
- Business
- Yahoo
Natwest returns to private ownership
Natwest has finally re-entered private ownership ending one of British banking's longest-running sagas. The government sold off its remaining 0.26 per cent stake in the group on Friday marking a full exit from the lender. The Treasury's share of the FTSE 100 lender dates back to the 2008 financial crisis. Natwest, then under the Royal Bank of Scotland moniker, received a £46bn bailout from taxpayer funds as it fought for survival. The government acquired an 80 per cent stake in Natwest as part of its rescue plan. The firm was not the only lender bailed out by the government. Lloyds received a £20bn injection for a 43 per cent stake. The Treasury pocketed around £4.9bn in dividend payments during its ownership with fees and other payments topping £5.6bn. However, today the government confirmed a £10.5bn loss to taxpayers since the bank was rescued during the 2008 financial crisis. Natwest follows Lloyds Banking Group, which departed from its status as a partially state-owned enterprise in 2017. Natwest CEO Paul Thwaite said: 'This is a significant moment for Natwest Group, for all those who work here and for the UK more widely. As we turn the page on the financial crisis, we can look to the future with confidence, without forgetting the lessons of the past. 'I am proud to have been part of the team that has helped build a simpler, safer, more customer-focussed bank. It is thanks to the incredible loyalty of our customers and colleagues, along with the support of our shareholders – including the UK taxpayer – that this change has been possible. 'Today we have a strategy that is working, positive momentum in our business and a clear ambition to succeed with our customers. 'This is a sector that matters; strong economies need strong banks, and vice versa. At a time when there is a clear intent to deliver growth, Natwest is ready to step up to the challenge, shaping our future as a vital and trusted partner to our customers and to the UK itself.' Up until 2022, the taxpayer was still the majority shareholder in the company. The government sold a chunk of its shares in March 2022, taking its stake to 48.1 per cent. But in the last year it has accelerated its sell-off to push Natwest back into private ownership. On January 14 2025, the government reduced its stake to 8.9 per cent, following a sale of 86.4m shares. And in early May, Natwest announced the government's holding had fallen below one per cent, averaging a two per cent reduction per month. Dan Coatsworth, investment analyst at AJ Bell, told : 'We don't know if it has been hands-on or stayed at arms' length, but it's fair to suggest that Natwest has followed the same path as other UK banks since the global financial crisis.' During the bank's annual general meeting, chairman Rick Haythornthwaite said the government had been 'positive and patient through the investing years'. Natwest stock notched a decade high of 478.80p in April, but the figure remains drastically dwarfed by pre-financial crisis highs of 5,236.28p. The lender pocketed £4bn in income for the first-quarter of 2025 after a rush to beat stamp duty deadlines boosted takings. The firm booked £1.8bn in pre-tax profit, surpassing the £1.6bn pencilled in by analysts. As Brits flocked to beat the Chancellor's March 31 deadline, net lending increased by £3.4bn to £371.9bn. Analysts hailed the lender's strategic positioning as operating expenses fell 8.5 per cent to £2bn. John Moore, senior investment manager at RBC Brewin Dolphin, said: 'With some of its peers potentially retreating from the UK, that may open up opportunities for acquisition or other forms of expansion, which would provide further scale while sticking to the three pillars of the bank's strategy.' Natwest lodged an £11bn bid for Santander UK's retail arm earlier this year, according to reports from the Financial Times. Talks between the two lenders are no longer active, but should the takeover have gone ahead it would have birthed the biggest banking deal since the financial crisis. Whilst unsuccessful, the proposal could offer insight into Natwest's future post-privatisiation. The bank kicked off its shopping spree last year after snapping up the majority of Sainsbury's banking assets and purchasing Metro Bank's £2.5bn residential mortgages portfolio. Natwest is set to deliver its half-year results on July 25 – and for the first time in 15 years – in private ownership. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mirror
20-05-2025
- Business
- Daily Mirror
Natwest customers urged to act ahead of huge change to bank accounts this month
The cut to interest rates comes as the Bank of England slashed its base rate by 0.25 percentage points to 4.25% earlier this month. On the day, savers were immediately warned about the impact the move would have on them Natwest is making a huge change to millions of bank accounts from next month in a blow to banking customers. The high street building society will be slashing the interest rates offered on some of its most popular savings accounts from May 30. Some of the Natwest accounts impacted by the cuts at the end of this month include its Digital Regular Saver, Flexible Saver and Help to Buy ISA. However, a further four will see rates drop a little later from July 15 and these include the building society's First Saver, Adapt Account, First Reserve, and Primary Savings. Only one Natwest savings account is not changing, and this is its Cash ISA. The interest rate for this account will remain at 2.7% for balances over £25,000 and at 1.4% for those under. The cut to interest rates comes as the Bank of England slashed its base rate by 0.25 percentage points to 4.25% earlier this month. On the day, savers were immediately warned about the impact the move would have on them. The Bank of England's base rate influences what banks and lenders charge you to borrow money, but it also dictates how much banks will pay you in interest on your savings. When the base rate is higher, the banks will pay you more. When the base rate drops, the banks will pay you less. Alice Haine, personal finance analyst at Bestinvest by Evelyn Partners, said: "Savings rates are now firmly in retreat mode and with more bank rate reductions expected, those that want to preserve their return must act fast by securing the best deal possible while interest rates remain on the higher side. "This is imperative for anyone with money idling in a current account or an old savings account offering a dismal return, which is being slowly eroded by inflation." Sign up to Mirror Money's newsletter for the latest advice and news From universal credit to furlough, employment rights, travel updates and emergency financial aid - we've got all of the big financial stories you need to know about right now. On the rate cuts, a Natwest spokesperson said: "Following the Bank of England base rate cut, we have made reductions to some of our variable rate savings accounts. "We will communicate these changes to customers in due course, giving at least 14 days' notice of any changes. Details of these changes are available on our website now." Full list of Natwest savings accounts changing Digital Regular Saver (£1 – £5,000) - Going from 6.17% to 5.50% Digital Regular Saver - (Over £5,000) - Going from 1.25% to 1.15% Flexible Saver - (£1 – £24,999) - Going from 1.25% to 1.15% Flexible Saver - (£25,000 – £99,999) - Going from 1.85% to 1.70% Flexible Saver - (£100,000 – £249,999) - Going from 2.10% to 1.95% Flexible Saver - (£250,000 – £999,999) - Going from 2.70% to 2.55% Flexible Saver - (£1million plus) - Going from 2.70% to 2.55% Savings Builder - (£1 – £10,000) - Going from 2.00% to 1.75% Savings Builder - (Over £10,000) - Going from 1.25% to 1.15% Cash ISA (Tax-free) - (£1 – £24,999) - Going from 1.40% to 1.40% Cash ISA (Tax-free) (£25,000 plus) - Going from 2.70% to 2.70% Help to Buy ISA (Tax-free) - (From £1) - Going from 2.02% to 2.05%
Business Mayor
12-05-2025
- Business
- Business Mayor
Warren Buffett doesn't believe in the '10,000-hour rule'—what he suggests you do instead to gain mastery
With an estimated net worth of $160 billion, Warren Buffett could easily be labeled an anomaly. But if you want to be good at investing, too, he says, you can — just know that 10,000 hours of practice won't necessarily get you there. 'I don't believe in that book that talked about spending 10,000 hours at something,' he said at Berkshire Hathaway's 2025 shareholder meeting. 'I could spend 10,000 hours at tap dancing and you'd throw up if you watched me,' he added. That appears to be a reference to Malcolm Gladwell's 2008 book 'Outliers' which helped popularize the idea that it takes 10,000 hours of practice to master a talent or subject. CNBC Make It has reached out to Gladwell for comment. In 'Outliers,' Gladwell called 10,000 hours the 'magic number' in terms of the time needed to spend practicing a skill to become an expert. That could go for playing the violin, writing fiction or virtually any other field. The so-called '10,000-hour rule' has been oversimplified, however, Gladwell subsequently pointed out. 'Practice isn't a SUFFICIENT condition for success,' he said in 2014. 'I could play chess for 100 years and I'll never be a grandmaster. The point is simply that natural ability requires a huge investment of time in order to be made manifest.' At the shareholder meeting, Buffett underlined the importance of identifying what skills you already have and what you love doing, and then find people who can teach you to improve. Ideally that means spending time with instructors or mentors, though it may be just as valuable to read what experts in your field have written on the subject. Read More BUSINESS LIVE: Natwest profits hit £1.8bn; Deutsche to buy Numis 'If I spent 10 hours reading Ben Graham, I would be damn smart when I got through,' Buffett said, referring to one of his most impactful mentors. 'Find your own path and you will find the people in schooling that want to talk to you.' 'Look around at what really fascinates you' It may seem financially wise to pursue a career or trade that you're not too interested in because it pays well. But you may be more likely to succeed by pursuing the thing that you're good at and excited about. 'If my ambition had been to become a ventriloquist or whatever it might have been, it wouldn't have worked,' Buffett said at the shareholder meeting. 'I just spent hours and hours and hours on investing.' Lucky for him, the topic he was interested in happened to be a lucrative career path. But he was able to master investing in part because his teachers and mentors were impressed with his curiosity and excited to work with him. 'People that teach, in general, love having a young student who's actually really interested in the subject, and they'll spend extra time with you,' he said. Reflecting on his time at Columbia University, Buffett said his professors treated him 'like a son.' 'I was interested in what they were saying and they found it kind of entertaining that I was so interested, so I would look around at what really fascinates you. I wouldn't try and be somebody else,' he added. Career experts often agree that your interests and natural skills should guide your career decisions more than the potential starting salary. When you choose a college major, for example, it's better to pursue a field of study you're genuinely interested in, not just something you think will help you get paid well. Read More Gambling stocks hit by fears of UK Budget tax grab Doing so can help you be more successful in school — and it may still pay off down the line. 'Your interests may match with a job that can ultimately pay you a really good salary right out of the gate,' Kafui Kouakou, assistant vice president of career development and experiential learning at Quinnipiac University previously told CNBC Make It. 'Some others you may have to start a little bit slow, start to make some money and then over time, it continues to increase and grow from there.' Want a new career that's higher-paying, more flexible or fulfilling? Take CNBC's new online course How to Change Careers and Be Happier at Work . Expert instructors will teach you strategies to network successfully, revamp your resume and confidently transition into your dream career. Start today and use coupon code EARLYBIRD for an introductory discount of 30% off $67 (+taxes and fees) through May 13, 2025. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life. READ SOURCE
Daily Mirror
12-05-2025
- Business
- Daily Mirror
Martin Lewis issues alert as three banks paying up to £175 to open accounts
Banks and building societies often offer cash incentives to new customers willing to make a full switch from their existing current account Martin Lewis has issued an alert as three major UK banks are now paying customers to open bank accounts. Banks and building societies often offer cash incentives to new customers willing to make a full switch from their existing current account. Martin issued the alert in the recent Money Saving Expert (MSE) newsletter. The Co-Operative Bank has launched a brand new switching offer. The new offer joins First Direct's switching incentive which is also paying £175, and Natwest which is paying £150. However, it's important to note that Natwest's offer is only for those who switch to its Reward Accounts, which have a monthly fee. To get the incentive when switching banks, you need to close and switch your current account using the Current Account Switch Service (CASS). This free service will move your balance, direct debits, and salary to the new bank within seven days. To get the bonus from the Co-operative Bank you must switch your account to a Co-op Standard Current Account, Current Account Plus, Privilege, Privilege Premier or Everyday Extra account. New customers will get £100 completing a bank switch to Co-op, and £25 each month for three months, giving a total of £175. To receive the first £100 payment, you will need to deposit a minimum of £1,000 into your accounts within 30 days. This can include balances transferred as part of the switch. Get the best deals and tips from Mirror Money WHATSAPP GROUP: Get money news and top deals straight to your phone by joining our Money WhatsApp group here. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice. You must also transfer two active direct debits and make a minimum of 10 card transactions. You must also register for Co-op's online or mobile banking service. To get the extra £75 - so three payments worth £25 a month - you must deposit a minimum of £1,000 into your account each month, have two active direct debits, and make a minimum of 10 debit card or digital wallet transactions. If you have received a switching incentive from the Co-operative Bank after November 1, 2022, you will not be eligible for the bonus. Join Money Saving Club's specialist topics For all you savvy savers and bargain hunters out there, there's a golden opportunity to stretch your pounds further. The Money Saving Club newsletter, a favourite among thousands who thrive on catching the best deals, is stepping up its game. Simply follow the link and select one or more of the following topics to get all the latest deals and advice on: Travel; Property; Pets, family and home; Personal finance; Shopping and discounts; Utilities. However, even with the new offer Martin Lewis - who regularly encourages households to take advantage of bank switching deals - says that First Direct is still the "overall top pick". In the MSE newsletter, he explained: "As well as giving newbies a free £175, it's top rated for service (92% 'great'), has a top debit card for using abroad, a linked 7% regular saver, and a £250 0% overdraft for many." To get the incentive with First Direct, you will need to deposit at least £1,000 and open two direct debits or standing orders from the account within 30 days of opening it. You must also register and log onto digital banking within 45 days of the account opening, and make five debit card payments.
