Nationwide's one small step

13th June 2012

Nationwide’s new SavingsWatch service is a step in the right direction but doesn’t cover the WHOLE market.

Nationwide has today launched a new service called SavingsWatch which it claims will alert all its savings customers to rate changes and new product launches (Nationwide products only). It’s certainly a step in the right direction and we must commend Nationwide for that, although you have to ask, shouldn’t they be doing this anyway?

Still the important thing is that they are now and it will be interesting to see how the other banks and building societies, especially high street providers, react. 

It made us at savingschampion.co.uk think, what an interesting idea this savingswatch is….why didn’t we think of that? Oh, hang on, we did!  Imitation is the sincerest form of flattery, we know that, but there’s one thing missing.  Savingswatch only covers Nationwide’s own products and whilst they do offer some competitive accounts, savers need to check the whole of the savings market to ensure they’re getting the best rates available.

Here’s our comment:

“Nationwide’s new SavingsWatch is progress, but it only covers their products.  Although they offer some competitive rates, savers need to be able to check the whole of the savings market to ensure they’re getting the best rates available.

This is why SavingsChampion.co.uk created the free and unique online service - Rate Tracker - which covers the whole UK savings market, and proactively informs registered users of changes to their savings accounts.  This includes interest rates on savings accounts that have been withdrawn from the market, as well as those currently on offer, allowing users to easily identify what rate their 'lazy savings' are earning and instantly showing them where their money should be invested, to earn the best rates.”

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