Nationwide has recently announced plans to simplify some of its savings products to help customers, both new and existing, manage their accounts more easily. Existing customers will be notified before any changes take place, with key amendments being in relation to Nationwide's range of notice savings accounts.
To help simplify things even more, Moneyfacts has been in touch with Nationwide to get an overview of some of the changes.
Overall, around 1.5 million customers will benefit from the changes to the range, and essentially all those changes will be positive. Customers will simply notice a change in name or a difference to their terms and conditions, whilst the removal of notice periods and conditional bonuses means savers won't need to stick to strict criteria in order to receive a competitive rate.
Nothing. Existing savers won't need to do anything as Nationwide will write to customers whose accounts are changing in due course, whilst new customers will simply have access to the updated products.
Even though existing savers won't need to do anything to take advantage of the new account set-up, it's still a great opportunity to check out the available options. They might want to compare accounts to see if their new version lives up to or even beats expectations, and those in the market for a savings account should see what Nationwide's range of products has in store – as well as seeing what other providers in the market can offer.
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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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