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Post by uncletone on Apr 3, 2015 13:20:11 GMT
In a year or so's time I'll have all my loose cash in regular savers, and I'll have to reorganise again. Read the small print... I just closed a reguar savings account with Nationwide. The interest rate was dependent (0.5% to 2.5%) on how much you paid in each month. I closed it when I realised that missing a month's payment meant I lost 2% interest for a month not on the 1K, but on the £21K that was left. The longer the account is fed, the more interest gets lost on failing to make the regular payment. Imagine losing a month's worth of 2% on a hundred grand just because you didn't feel like paying any more in this month!
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am
Posts: 1,495
Likes: 601
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Post by am on Apr 3, 2015 13:38:54 GMT
I've got one of those. (The top rate is now 2%.) I did read the small print. The feature you describe isn't a problem until I either run out of money to feed into it, or hit £85,000 in Nationwide.
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Post by westonkevRS on Apr 3, 2015 14:59:46 GMT
but the mean return is not guaranteed.... .... Yes, they are a bit miserly!
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Post by yorkshireman on Apr 4, 2015 0:25:12 GMT
yorkshireman: how many of those 9,103 complaints were you responsible for ? :-) Over the last three years, I’ve made complaints against three out of the four members of the YBS group and received a reasonable goodwill payment from each of them.
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