Simple, but problem free, online banking (Nationwide Building Society)

Member Name: qbatqbat

Product:	Nationwide Building Society
Date:	12/11/00 (291 review reads)
Rating:

Advantages: Good interest rates and few fees

Disadvantages: Not all account types available online

Nationwide have a large range off accounts if you are wanting to save or invest money, all having varying interest rates depending on whether you need instant access etc.

Their current account, the FlexAccount is very good compared to those offered by many banks. Unfortunately the interest rate for the current account isn't anything to shout about, like with virtually all current accounts you are probably best keeping you savings in an account paying better interest. Your day to day banking with Nationwide is completely free. Almost any cash machine you come across whether in this country or abroad, you will be able to use to withdraw money from your FlexAccount at no charge.

As you are likely to be on the Internet, you should know that you can access your FlexAccount online. There's not a vast amount of features in the online banking system, but it has a nice, simple, easy to use interface, and you can do all your standard banking tasks such as transferring money between accounts and paying bills... of course you can't use the online banking to withdraw cash :-)

Nationwide have a special savings account for online banking called "e-Savings", I strongly recommend you open one of these accounts if you have a FlexAccount and online banking. You can then transfer money to and from this account online so if you keep the amount in your FlexAccount to a minimum and transfer any extra cash to e-Savings, you will end up with far more in interest :-) The current rate is 7% (gross).

Most people reading this will possibly be tax payers... if you are, check out Nationwide's instant access ISA account, you get around 6.85% interest tax free (you will find all current interest rates on the Nationwide site). There is an ISA section on dooyoo where people have reviewed Nationwide's ISA's.

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