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Wales Online
12-05-2025
- Business
- Wales Online
All the Nationwide customers who will be affected by June bank account changes
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Nationwide has announced a raft of changes to bank accounts affecting millions of customers from June. Many Nationwide members with savings accounts will see changes from next month impacting their cash. Britain's biggest building society is slashing rates on a number of its savings accounts. READ MORE: The Nationwide customers who will qualify for new £100 bonus payments Get our best money saving tips and hacks by signing up to our newsletter This will hit returns made by customers on their savings. The announcement comes after the Bank of England's cut to the base rate in February and will come as a blow to savers. Rates will be lowered by between 0.1% and 0.25%. Money experts say Nationwide customers may now want to shift their money to another bank offering better interest rates. A number of accounts will be affected including the Reward Single Access ISA, the Reward ISA and Flex ISA. Other regular savings accounts and instant access will also be hit such as the Help to Buy, Continue to Save, Single Access Saver and Limited Access Saver. Antonia Medlicott, of financial education specialists, Investing Insiders, said: 'One thing is certain - savers relying on cash ISAs will experience diminishing returns as providers respond with cuts of their own. "One exception will be those who have locked in fixed rates, which could be a consideration for anyone looking to secure higher returns before these reductions occur." Tom Riley, Nationwide's director of retail products, said: "We have worked hard to limit the impact of the recent rate cut on our savers and have taken the decision to hold off from making changes for as long as possible. "Following these changes, our savings range will remain competitive and continue to pay more than the market average, giving savers every reason to put their money with Nationwide."
Daily Mirror
07-05-2025
- Business
- Daily Mirror
Nationwide making huge change to accounts in weeks - full list of those affected
The Bank of England's base rate impacts the interest offered on savings accounts - The higher the base rate, the higher the rate offered, and the lower the base rate, the lower the rate offered Nationwide will be making a huge change to millions of accounts within weeks - and savers are set to be worse off. The building society has announced that it will be cutting the interest rates on over 60 of its savings accounts from June 1. The move comes after the Bank of England slashed the base interest rate from 4.75% to 4.5% in February - and is set to cut it again by 0.25 percentage points tomorrow. The base rate impacts the interest offered on savings accounts. The higher the base rate, the higher the rate offered, and the lower the rate, the lower the rate offered. Lower rates are not good news for savers as this means they are paid less for their pots. Nationwide will cut the rate offered across 63 of its savings accounts, including its easy-access savers and Cash ISAs. Tom Riley, Nationwide's director of retail products, said the building society had "worked hard" to limit any reductions in savings rates. He added: "We have not made any changes to our Children's FlexOne Saver and those savings which encourage a savings habit. Following these changes, our savings range will remain competitive and continue to pay more than the market average, giving savers every reason to put their money with Nationwide." If the interest rate on one of your Nationwide savings accounts is being cut, you should receive notification from the building society. You are most likely to be sent an email. If the interst rate is changing on your savings account, then you can close the account and find another paying a better rate. However, it's not just the headline savings rate you should base things on, you should also look for any withdrawal penalties, when interest is paid and if the account comes with a temporary bonus rate. Join Money Saving Club's specialist topics Full list of Nationwide bank changes from June 1 Branch Limited Access - Now: 2.1% June 1: 1.9% Branch Reward Single Access ISA - Now: 3.55% June 1: 3.35% Branch Single Access - Now: 3.55% June 1: 3.35% Triple Access Online ISA - Now: 2% June 1: 1.8% Branch Triple Access ISA - Now: 2.15% % June 1: 1.95% Branch Easy Access ISA - Now: 1.8% June 1: 1.55% Branch Easy Access - Now: 1.8% June 1: 1.55% Branch Reward Saver - Now: 3.5% June 1: 3.3% Branch Reward ISA - Now: 3.5% June 1: 3.3% Business Investor - Now: 1.81% June 1: 1.56% Triple Access ISA - Now: 2.15% June 1: 1.95% Branch Easy Access ISA - Now: June 1: Easy Access ISA - Now: 1.80% June 1: 1.55% Easy Access ISA 2 - Now: 1.80% June 1: 1.55% e-ISA - Now: 1.80% June 1: 1.55% Fixed Term ISA Maturity - Now: 1.80% June 1: 1.55% Fixed Term Cash ISA Maturity - Now: 1.80% June 1: 1.55% Inheritance ISA - Now: 1.80% June 1: 1.55% Branch Easy Access - Now: 1.80% June 1: 1.55% Easy Access Saver - Now: 1.80% June 1: 1.55% CashBuilder Card - Now: 1.80% June 1: 1.55% Direct Saver - Now: 1.80% June 1: 1.55% Easy Access Card - Now: 1.80% June 1: 1.55% e-Savings - Now: 1.80% June 1: 1.55% Fixed Term Bond Maturity - Now: 1.80% June 1: 1.55% Instant Access Saver Issues 1-9 and 11 - Now: 1.80% June 1: 1.55% InvestDirect - Now: 1.80% June 1: 1.55% Fixed Term Branch Bond Maturity - Now: 1.80% June 1: 1.55% Fixed Term e-Bond Maturity - Now: 1.80% June 1: 1.55% Lapsed TESSA - Now: 1.80% June 1: 1.55% ShareSave Feeder - Now: 1.80% June 1: 1.55% Branch Reward ISA - Now: 3.50 % June 1: 3.30% Reward ISA - Now: 3.50 % June 1: 3.30% Business Investor - Now: 1.81% June 1: 1.56% Portfolio Investor - Now: 1.81% June 1: 1.56% Triple Access Saver - Now: 2.15% June 1: 1.95% Help to Buy: ISA - Now: 3.1% June 1: 2.90% e-Savings Plus - Now: 2.10% June 1: 1.90% Continue to Save - Now: 2.10% June 1: 2% Branch Smart Limited Adult - Now: 3.05% June 1: 2.85% Branch Smart Limited Child - Now: 3.05% June 1: 2.85% Smart Limited Access Adult - Now: 3.05% June 1: 2.85% Smart Limited Access Child - Now: 1.85% June 1: 1.60% Branch Flex Saver - Now: 1.85% June 1: 1.60% Flex Online Saver Issues 1 and 2 - Now: 1.85% June 1: 1.60% Flexclusive Saver (all issues) - Now: 1.85% June 1: 1.60% Flex Saver - Now: 1.85% June 1: 1.60% Corporate Savings - Now: 1.81% June 1: 1.56% Branch Flex ISA - Now: 1.85% June 1: 1.60% Flex ISA - Now: 1.85% June 1: 1.60% Instant Access Saver Issue 10 - Now: 2.05% June 1: 1.85% Single Access ISA - Now: 3.55% June 1: 3.35% Branch Smart Instant Adult - Now: 2.05% June 1: 1.85% Branch Smart Instant Child - Now: 2.05% June 1: 1.85% Branch Smart Saver - Now: 2.05% June 1: 1.85% Smart Instant Access Adult - Now: 2.05% June 1: 1.85% Smart Instant Access Child - Now: 2.05% June 1: 1.85% Smart Saver - Now: 2.05% June 1: 1.85% Flex Instant Saver - Now: 3% June 1: 2.75% Flex Instant Saver 2 - Now: 3% June 1: 2.75% Flex Instant Saver 3 - Now: 3% June 1: 2.75%
Scottish Sun
06-05-2025
- Business
- Scottish Sun
Nationwide to make big change to millions of bank accounts in weeks – 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 big change to millions of accounts in weeks leaving savers worse off. The major building society is cutting interest rates on over 60 savings accounts from June 1. Sign up for Scottish Sun newsletter Sign up 1 Nationwide is cutting rates on dozens of savings accounts Credit: Alamy The move comes after the Bank of England slashed the base rate from 4.75% to 4.5% in February. The base rate affects the interest rates banks offer to customers on a range of products including savings accounts and mortgages. A lower base rate signals good news for mortgage holders but has a negative knock-on effect on savers who usually see their rates drop. Nationwide is cutting rates on 63 of its savings accounts on June 1, from ISAs to easy access savings accounts. Whether you are impacted and how much by depends on the type of account you have, plus how many withdrawals you can make from the account per year. For example, the interest rate on Nationwide's Triple Access ISA is currently 2.15% if you can make three or fewer withdrawals a year but from June 1 this will fall to 1.95%. If you've got the same savings account and can make four or more withdrawals each year the rate is currently 1.75% but will fall to 1.50% from June 1. Meanwhile, if you have a Single Access ISA and can make one or fewer withdrawals each year, the rate is dropping from 3.55% to 3.35%. However, if you can make two or fewer withdrawals each year, your rate will fall from 1.75% to 1.50%. Tom Riley, Nationwide's director of retail products, said the building society had "worked hard" to limit any reductions in savings rates. Switch bank accounts for free perks He added: "We have not made any changes to our Children's FlexOne Saver and those savings which encourage a savings habit. "Following these changes, our savings range will remain competitive and continue to pay more than the market average, giving savers every reason to put their money with Nationwide." Not all savers will see their interest rates fall from June 1, including those with child savings accounts. For example, if you've got a Branch Smart Limited Child account and are allowed to make two or more withdrawals from it each year, the interest rate will stay at 1.80%. If the interest rate on one of your Nationwide savings accounts is being cut, you should receive notification from the building society telling you. This communication may come via email. For more information on what specific accounts will see their interest rates drop, go to What you can do if you're affected Nationwide customers set to see their savings account interest rates drop from June 1 could shop around for a different deal and switch. According to Chip and Sidekick are offering the best easy access account rates of 4.76%. Meanwhile, the best rate on an easy access Cash ISA is with Trading 212 which is offering a 5.07% rate. Of course, whenever you're looking to switch to a different savings rate, make sure you factor in everything before deciding to change. It's not just the headline savings rate you should keep an eye out for, but any withdrawal penalties, when interest is paid and if the account comes with a temporary bonus rate. A lot of banks and building societies offering bonus interest rates which last for a set period but then drop to a lower rate. Think about the type of savings account you want to switch to as well. If you've currently got an easy access savings account with Nationwide it could be worth switching to an ISA. The main advantage to ISAs is that you aren't taxed on any earnings whereas with a standard savings account you are taxed on interest earned above your Personal Savings Allowance (PSA). This is either £0, £500 or £1,000 depending on your income tax band. 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. In other news, economists are predicting interest rates to fall at their fastest pace since the 2008 financial crash this year. The dropping rates spell bad news for savers who will likely see interest rates on their savings account fall further. 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
06-05-2025
- Business
- The Sun
Nationwide to make big change to millions of bank accounts in weeks – and customers need to check now
NATIONWIDE is making a big change to millions of accounts in weeks leaving savers worse off. The major building society is cutting interest rates on over 60 savings accounts from June 1. The move comes after the Bank of England slashed the base rate from 4.75% to 4.5% in February. The base rate affects the interest rates banks offer to customers on a range of products including savings accounts and mortgages. A lower base rate signals good news for mortgage holders but has a negative knock-on effect on savers who usually see their rates drop. Nationwide is cutting rates on 63 of its savings accounts on June 1, from ISAs to easy access savings accounts. Whether you are impacted and how much by depends on the type of account you have, plus how many withdrawals you can make from the account per year. For example, the interest rate on Nationwide's Triple Access ISA is currently 2.15% if you can make three or fewer withdrawals a year but from June 1 this will fall to 1.95%. If you've got the same savings account and can make four or more withdrawals each year the rate is currently 1.75% but will fall to 1.50% from June 1. Meanwhile, if you have a Single Access ISA and can make one or fewer withdrawals each year, the rate is dropping from 3.55% to 3.35%. However, if you can make two or fewer withdrawals each year, your rate will fall from 1.75% to 1.50%. Tom Riley, Nationwide's director of retail products, said the building society had "worked hard" to limit any reductions in savings rates. He added: "We have not made any changes to our Children's FlexOne Saver and those savings which encourage a savings habit. "Following these changes, our savings range will remain competitive and continue to pay more than the market average, giving savers every reason to put their money with Nationwide." Not all savers will see their interest rates fall from June 1, including those with child savings accounts. For example, if you've got a Branch Smart Limited Child account and are allowed to make two or more withdrawals from it each year, the interest rate will stay at 1.80%. If the interest rate on one of your Nationwide savings accounts is being cut, you should receive notification from the building society telling you. This communication may come via email. For more information on what specific accounts will see their interest rates drop, go to What you can do if you're affected Nationwide customers set to see their savings account interest rates drop from June 1 could shop around for a different deal and switch. According to Chip and Sidekick are offering the best easy access account rates of 4.76%. Meanwhile, the best rate on an easy access Cash ISA is with Trading 212 which is offering a 5.07% rate. Of course, whenever you're looking to switch to a different savings rate, make sure you factor in everything before deciding to change. It's not just the headline savings rate you should keep an eye out for, but any withdrawal penalties, when interest is paid and if the account comes with a temporary bonus rate. A lot of banks and building societies offering bonus interest rates which last for a set period but then drop to a lower rate. Think about the type of savings account you want to switch to as well. If you've currently got an easy access savings account with Nationwide it could be worth switching to an ISA. The main advantage to ISAs is that you aren't taxed on any earnings whereas with a standard savings account you are taxed on interest earned above your Personal Savings Allowance (PSA). This is either £0, £500 or £1,000 depending on your income tax band. 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. In other news, economists are predicting interest rates to fall at their fastest pace since the 2008 financial crash this year. The dropping rates spell bad news for savers who will likely see interest rates on their savings account fall further.
Scotsman
28-04-2025
- Automotive
- Scotsman
Edinburgh entrepreneur launches claims website for drivers
Watch more of our videos on and on Freeview 262 or Freely 565 Visit Shots! now Growing up in Edinburgh, Tom Riley spent much of his teenage years in an unusual way. While others were busy with school and sports, Tom was upstairs in his parents' house, teaching himself how to build websites. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Not just build them — but rank them, rent them out, and turn them into thriving little businesses. It wasn't about quick money. It was a fascination with the power of the internet — how the right idea, shared the right way, could find people wherever they were. A love for online marketing took hold early and never let go. Advertisement Hide Ad Advertisement Hide Ad Now, after years of working in digital, Riley is turning his skills to something much bigger: helping ordinary drivers reclaim money they may never have realised was missing from their pockets. Tom Riley, owner of Car Finance Claims UK Today, he officially launches , a new platform designed to help people across Britain check if they were mis-sold a car finance agreement — and guide them through the steps to claim it back themselves. The timing couldn't be sharper. A scandal is unfolding that could rival PPI in scale, with estimates suggesting more than £30 billion could eventually be repaid to drivers who unknowingly paid inflated interest rates on their PCP (Personal Contract Purchase) or HP (Hire Purchase) finance deals. Many dealerships between 2007 and 2021 secretly adjusted interest rates to earn bigger commissions — without properly informing customers. The practice was banned in 2021, but millions of affected agreements remain, and compensation could be significant. Riley's new platform makes the process simple. Advertisement Hide Ad Advertisement Hide Ad Drivers enter a few basic details — their vehicle registration, a few short answers about their finance — and the team at Car Finance Claims UK does the rest. No complicated legal forms. No middlemen. No hefty commission cuts. The average refund ranges from £1,000 to £5,000, depending on the finance deal. But many drivers don't realise they can make a claim directly themselves, without paying expensive claims management companies that often take a large share of any refund. Instead, Car Finance Claims UK empowers people to take control — and keep every penny they're owed. It's a business built on the same passion that once saw Tom Riley renting websites from his parents' spare bedroom: spotting an opportunity to help people through smart, simple technology — and delivering it in a way they can trust. For drivers who financed a car between 2007 and 2021, the message is clear: now is the time to check if you're owed money.
