Dropping Rate, dropping standards (Nationwide Building Society ISA)

Member Name: DannoStanno

Product:	Nationwide Building Society ISA
Date:	20/05/09 (148 review reads)
Rating:

Advantages: Was a good ISA before the crash

Disadvantages: Rate at 0.5% and they don't tell you

Hmmm, as much as I like the fact I bank with a Building Society and not a bank I am having an issue with this ISA. Yes, Nationwide with their current account that allows travellers to withdraw money with no load fee and has been kind to me since I've been with them have suddenly got very sneaky with their ISAs.

I hold a Member's ISA Bond and for years they offered a reasonable interest rate, information galore and an easy to use tracker online (as part of their internet banking) yet in the last 9 months or so they've been decreasing and decreasing that interest rate and not having the balls to tell me.

Yes the world is a financial mess, I know that and yes I expect interest rates not to be the 5/6 percent of a year ago but I feel it is sneaky not to keep their customer in the loop. This is made worse when as of April 09 the rate has dropped to a meagre 0.5%!!!

Luckily I check rates eagerly with moneysavingexpert.com and have now transferred my ISA to a bank offereing a decent interest rate.

Summary: Sneaky dealings from Nationwide mean the 0.5% interest rate is kept very hush hush