Saving accounts dropping more than BOE rates (Nationwide)

[chrisjm]

Why is it that lenders who do not pass on the BOE base rate drops get bad press, but Nationwide who have dropped saving rates on some accounts this time and other accounts last time by more than the BOE rate get no negative publicity about it and get away with it quietly :shrug:

[Mr Silly]

That is poor. Move away from any such banks/building societies I say and reward those that keep with the rates

[AdamBrunt]

Because the press are just concentrating on what people with mortgages are getting - and Nationwide were one of the first this time round to say their borrowers would get the full 1%.

[farmroad38]

It's not just Nationwide.

I was looking at a Birmingham Midshires 6-month bond on Thursday, as I need a home for the money I've taken out of premium bonds. It was at 5.83% then, but I couldn't open the account until I had the money and it won't arrive until next week at some point. Just checked again, and now it's at 4.5% - dropped far more than the interest rate cut!

[Smi1er]

And they removed the Tracker Mortgage Collar of 2.75% when they certainly didn't have to, so a big:thumbs:to Nationwide:notworthy

[chrisjm]

:oh-hum: 1.1% drop on e-savings today. 10% over the BOE drop :oh-hum:

[KennyVader]

At least you can move savings to another bank very easily, can't do the same with mortgages.