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mspL4

Nationwide Desperation And Harassment

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Haven't been into a Nationwide branch for a long, long time although I've been a faithful "Shareholder" for 20 years or so. Last Monday I HAD to visit my local branch to pay in a cheque, "a 10 minute job" or so I thought. Upon arriving at the service window of some bint, she duly paid in my cheque, issued my receipt and, "Before you go Mr mspL4, we've noticed that you've not been into a branch for over a year, your money could be earning more interest in another one of our accounts, do you have time to speak to a Financial Advisor?" to which I replied, "No". "Well, can you go over to that lecturn over there and book an appointment?"..."Fine" I thought, this should be fun.

Now, I have SOME savings in one of their Savings accounts which is paying me a fantastic rate of 0.45% interest, within seconds I have 3 different bints fawning over me, one asking me to sit down, one asking me to stand up, and one wishing to speak to me right now...as disorganised as usual! I thought I'd humour this one so said I'd make an appointment although clearly I'd have no intention of sticking to it, and so it begins;

SHE: "You could be making more interest in another one of our accounts"

ME: "Well, can't you just increase the interest rate on my Savings?"

SHE: "No, we can't do that 'cos of the Base Rate"

ME: "Well, it's not going to stay that low forever is it?"

SHE: "No, but"

ME: "Anyway, it's just numbers on a screen to me, it's not even real"

SHE: "But it is real when you want to buy something"

ME: "Yeah, but when I want to buy something, I buy it"

SHE: "Yeah, but your money's depreciating in value 'cos of inflation"

ME: "So?, that's not my fault is it!"

SHE: "I know, but you could be earning more interest"

ME: "Yeah, but I'm not gonna lock my money in for 5 years, or limit myself to 3 free withdrawals a year for a slightly higher savings rate"

SHE: "Yeah, but what if you want to buy a car?"

ME: "If I want to buy a car, I'll buy a car...by the way I already have a car"

SHE: "Or a yacht"

ME: "I don't like boats"

SHE: "But you could spend the interest on things"

ME: "Like what?, I'm not materialistic, and I'm not going to be boosting the economy with consumer spending on stuff I don't need"

SHE: "Yes, but you're missing out on interest! You should really have more than one account for this amount of money"

ME: "I do have more than 1 account, a Current Account which you pay me no interest on, and a Savings account which you pay me virtually no interest on"

SHE: "But you could use the money to give to charity"

ME: "I already gave at the office, if the Government wants to use my Income Tax for charity I'll happily accept it"

ME: "And if you can't increase the rate on my savings account why can you offer me a better rate on another one of your products?"

SHE: "'Cos they're not linked to the base rate"

ME: "So, thanks to the BoE my "Savings" are depreciating at approximately 15% per year, does one of your products offer a savings rate of 15%"

SHE: "No"

ME: "So, these other products are not going to stop my "Savings" depreciating either, just ever so slightly slower"

ME: "And are all of these products on your website?"

SHE: "Most of them, but not all"

She continues to try and talk me into booking 2 90 minute meetings with one of their "Financial Advisors" who will quite obviously of been instructed by their superiors to get as many customers with x amount in savings into one of their locked-in savings rates products pronto, maybe before the impending rate rises? I continue to humour her by saying that I can only spare Mondays and I'll will always have something better to do, she even offered Home Visits or Weekends to which I laughed, "Do you really think I want to spend my Saturday in a 90 minute meeting with someone talking about money?"

She finally gave up, I left telling her that "It's all Monopoly anyway, none of it's real"

1-0 to me...

I've never encountered this before, anyone else had the hard sell from some fvckwit who isn't a "Financial Advisor" themselves?

mspL4

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She finally gave up, I left telling her that "It's all Monopoly anyway, none of it's real"

1-0 to me...

I've never encountered this before, anyone else had the hard sell from some fvckwit who isn't a "Financial Advisor" themselves?

mspL4

That is interesting I had a similar encounter a month or so ago in a Nationwide branch, I already knew I wanted to move my ISA bond thingy into something paying a bit better but knew I did not want to fix. So I went with seeing an advisor at the back of my mind anyway.

I got a similar chat from the guy telling me to fix as rates were not going to go anywhere. I said I was hoping for rates to rise to which he responded that it would be harder for me to buy a house if that happen (houseprices came up in the discussion) and was slightly taken aback when I said that a rise in rates would lead to a fall in prices so I could be quids in. I could almost tell that once I had pointed this out that he agreed with me but obviously could not say so, soon after he admitted that he and his girlfriend were priced out of buying and were thinking of moving to Australia.

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I always get the hard sell from them too. The service in their branches is usually terrible too - e.g. long queues, slow service, poor knowledge at the counter.

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I've never encountered this before, anyone else had the hard sell from some fvckwit who isn't a "Financial Advisor" themselves?

mspL4

Not in a branch, but I've had VERY heavy pressure from Barclays over the phone, when I was trying to transfer a fairly hefty sum into NS&I. '"We strongly advise you to speak to one of our FAs...'

Went on for long enough that I eventually gave in - spoke to the FA over the phone for just long enough to establish that he couldn't offer the same rate + access that I was going to get with NS&I - which I knew perfectly well already.

But it really galled me that I more or less had to go through this before they would condescend to release my own money.

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I always get the hard sell from them too. The service in their branches is usually terrible too - e.g. long queues, slow service, poor knowledge at the counter.

And they're stopping free cash withdrawals abroad from October, SCUM! And Halifax won't give me they're fee fee credit card, which is the only product that allows free cash withdrawal abroad now, cos my credit rating is spotless, so obviously they know I'll be leeching off them, rather than giving them the opportunity to leech off me. Tossers.

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Haven't been into a Nationwide branch for a long, long time although I've been a faithful "Shareholder" for 20 years or so. Last Monday I HAD to visit my local branch to pay in a cheque, "a 10 minute job" or so I thought. Upon arriving at the service window of some bint, she duly paid in my cheque, issued my receipt and, "Before you go Mr mspL4, we've noticed that you've not been into a branch for over a year, your money could be earning more interest in another one of our accounts, do you have time to speak to a Financial Advisor?" to which I replied, "No". "Well, can you go over to that lecturn over there and book an appointment?"..."Fine" I thought, this should be fun.

Now, I have SOME savings in one of their Savings accounts which is paying me a fantastic rate of 0.45% interest, within seconds I have 3 different bints fawning over me, one asking me to sit down, one asking me to stand up, and one wishing to speak to me right now...as disorganised as usual! I thought I'd humour this one so said I'd make an appointment although clearly I'd have no intention of sticking to it, and so it begins;

SHE: "You could be making more interest in another one of our accounts"

ME: "Well, can't you just increase the interest rate on my Savings?"

SHE: "No, we can't do that 'cos of the Base Rate"

ME: "Well, it's not going to stay that low forever is it?"

SHE: "No, but"

ME: "Anyway, it's just numbers on a screen to me, it's not even real"

SHE: "But it is real when you want to buy something"

ME: "Yeah, but when I want to buy something, I buy it"

SHE: "Yeah, but your money's depreciating in value 'cos of inflation"

ME: "So?, that's not my fault is it!"

SHE: "I know, but you could be earning more interest"

ME: "Yeah, but I'm not gonna lock my money in for 5 years, or limit myself to 3 free withdrawals a year for a slightly higher savings rate"

SHE: "Yeah, but what if you want to buy a car?"

ME: "If I want to buy a car, I'll buy a car...by the way I already have a car"

SHE: "Or a yacht"

ME: "I don't like boats"

SHE: "But you could spend the interest on things"

ME: "Like what?, I'm not materialistic, and I'm not going to be boosting the economy with consumer spending on stuff I don't need"

SHE: "Yes, but you're missing out on interest! You should really have more than one account for this amount of money"

ME: "I do have more than 1 account, a Current Account which you pay me no interest on, and a Savings account which you pay me virtually no interest on"

SHE: "But you could use the money to give to charity"

ME: "I already gave at the office, if the Government wants to use my Income Tax for charity I'll happily accept it"

ME: "And if you can't increase the rate on my savings account why can you offer me a better rate on another one of your products?"

SHE: "'Cos they're not linked to the base rate"

ME: "So, thanks to the BoE my "Savings" are depreciating at approximately 15% per year, does one of your products offer a savings rate of 15%"

SHE: "No"

ME: "So, these other products are not going to stop my "Savings" depreciating either, just ever so slightly slower"

ME: "And are all of these products on your website?"

SHE: "Most of them, but not all"

She continues to try and talk me into booking 2 90 minute meetings with one of their "Financial Advisors" who will quite obviously of been instructed by their superiors to get as many customers with x amount in savings into one of their locked-in savings rates products pronto, maybe before the impending rate rises? I continue to humour her by saying that I can only spare Mondays and I'll will always have something better to do, she even offered Home Visits or Weekends to which I laughed, "Do you really think I want to spend my Saturday in a 90 minute meeting with someone talking about money?"

She finally gave up, I left telling her that "It's all Monopoly anyway, none of it's real"

1-0 to me...

I've never encountered this before, anyone else had the hard sell from some fvckwit who isn't a "Financial Advisor" themselves?

mspL4

But i thought we have all been told to spend spend spend!

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When they try that on me, I say politely....

"I don't want any investment advice, thank you, I prefer to make my own decisions. If I make a mistake and lose money that's my fault and I can live with it. But, if you were to advise me and I subsequently lost money, I'd have to kill you".

Works every time :lol:.

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She continues to try and talk me into booking 2 90 minute meetings with one of their "Financial Advisors" who will quite obviously of been instructed by their superiors to get as many customers with x amount in savings into one of their locked-in savings rates products pronto, maybe before the impending rate rises? I continue to humour her by saying that I can only spare Mondays and I'll will always have something better to do, she even offered Home Visits or Weekends to which I laughed, "Do you really think I want to spend my Saturday in a 90 minute meeting with someone talking about money?"

She finally gave up, I left telling her that "It's all Monopoly anyway, none of it's real"

1-0 to me...

I've never encountered this before, anyone else had the hard sell from some fvckwit who isn't a "Financial Advisor" themselves?

mspL4

Mate, be sympathetic, she's just a drone trying to earn a crust. I had similar from Nationwide too when fixed rate bond expired recently. I agreed to meet adviser. At the start of that meeting I immediately said to her, "I do not want to invest in anything stockmarket related or any complex accounts, I just want another fixed rate bond at a good rate for a timescale I'm happy with. So please don't try to sell me anything else, I know your employers want you to do that but I'm really not interested and will walk out if you do." She was quite surprised, but was very pleasant and I got what I wanted.

EDIT: Bruce Banner's version is better! :P

Edited by mikthe20

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Nationwide, let me see.......

Yes, another organisation that don`t seem to be able to do what they are supposed to do.

Someone I know recently got a credit card through NW. Already got a Flex account with them. First CC bill arrives, I told them to take the bill into the branch and pay the balance by cheque or transfer (this person doesn`t do internet banking). I told them to ask if the balance could be paid off monthly automatically. The cashier said "no problem, do you want to payy off the minimum or full balance each month ?" Answer was "full balance please". No problem, said the lady, pass me your cards and i`ll sort it.

A month goes by, statement arrives, and is ignored, because the direct debit is set up. Another month goes by, and I get a phone call..... "just got the September CC statement, and there`s a £12 charge on it". I looked at it, and it`s for non-payment of the previous balance. 15 minutes waiting on the phone for some help from NW.... "how can I help you ?". My reply was "answer the phone a bit more quickly". Evenually the matter was sorted, but it`s another example of shoddy service.

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While we're laying into Nationwide...

Several years ago I got fed up with Lloyds Bank's attitude to customer service and decided to move to Nationwide on the grounds that they would probably be better and couldn't be any worse. I wandered into the local branch to ask about upgrading my flexaccount to include a debit card.

"I'm afraid we can't do that at the moment Sir."

"Why not?"

"The computer doesn't give you a good enough score."

"I have no debt problems and a provable above-average income. What's the problem?"

"Well, you haven't been with us very long, have you?"

"Eighteen years."

"Oh. Well you can get your wages paid into your flexaccount and after a while you'll have built up your score and then the computer will let you have a debit card."

"I require a debit card now. It would be massively inconvenient to make do without one."

"Well that's how it works I'm afraid."

"If I came in here as a new customer you would be able to arrange an account with a debit card for me."

"But you're not a new customer."

"So I'm being penalised for being a current customer?"

"Err, I'm sure that's not the case."

"You've got this wrong."

She then asked me to fill out a lengthy form. I asked her what purpose that would serve. She couldn't answer, so I walked out.

I seethed for several minutes, then walked several hundred yards to the next Nationwide. There I explained my problem to the lady and expressed my opinion that something was obviously wrong.

"Do you have the card for your present current account?"

"Err yes, right here..."

"Thank you..."

{a quick entry of card details into a terminal followed by a five second pause}

"That's great Mr Horridbloke, I can open a new account for you with a debit card now. Would you like a credit card as well?"

"Erm, I'm fine thank you."

"Are you sure? I can arrange an eight thousand pound limit."

"Really, that's fine, thank you."

A week later everything was moved over and groovy (and has remained so) but I'd love to know what the rep at the first branch was playing at.

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I was terribly treated by Nationwide. They sold me a bond on the understanding I could close it with 90 days notice and no penalty, or close it imediatly with a fee equivelent to 90 days interest. Having put all my money into the bond, I later enquired how I go about giving them my 90 days notice and they said I could not. They disputed that I had been told that advice by two different people, so I insisted they find the recordings of the original conversations. They found them and agreed that I had been given incorrect info, and they closed the bond without my permission. (I was only enquiring how to give notice) They twice allowed my account to be robbed by ID theft and were hopeless at resolving it. I spent hours on the phone. They are useless, but to be fair, they are better than the rest! I have next to nothing with them now.

Edited by endgame

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When they try that on me, I say politely....

"I don't want any investment advice, thank you, I prefer to make my own decisions. If I make a mistake and lose money that's my fault and I can live with it. But, if you were to advise me and I subsequently lost money, I'd have to kill you".

Works every time :lol:.

Im glad you didnt listen to my investment advice to buy GOLD then, although you would have doubled your wealth, so you would not have had to kill me.... hahaha

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Haven't been into a Nationwide branch for a long, long time although I've been a faithful "Shareholder" for 20 years or so. Last Monday I HAD to visit my local branch to pay in a cheque, "a 10 minute job" or so I thought. Upon arriving at the service window of some bint, she duly paid in my cheque, issued my receipt and, "Before you go Mr mspL4, we've noticed that you've not been into a branch for over a year, your money could be earning more interest in another one of our accounts, do you have time to speak to a Financial Advisor?" to which I replied, "No". "Well, can you go over to that lecturn over there and book an appointment?"..."Fine" I thought, this should be fun.

Now, I have SOME savings in one of their Savings accounts which is paying me a fantastic rate of 0.45% interest, within seconds I have 3 different bints fawning over me, one asking me to sit down, one asking me to stand up, and one wishing to speak to me right now...as disorganised as usual! I thought I'd humour this one so said I'd make an appointment although clearly I'd have no intention of sticking to it, and so it begins;

SHE: "You could be making more interest in another one of our accounts"

ME: "Well, can't you just increase the interest rate on my Savings?"

SHE: "No, we can't do that 'cos of the Base Rate"

ME: "Well, it's not going to stay that low forever is it?"

SHE: "No, but"

ME: "Anyway, it's just numbers on a screen to me, it's not even real"

SHE: "But it is real when you want to buy something"

ME: "Yeah, but when I want to buy something, I buy it"

SHE: "Yeah, but your money's depreciating in value 'cos of inflation"

ME: "So?, that's not my fault is it!"

SHE: "I know, but you could be earning more interest"

ME: "Yeah, but I'm not gonna lock my money in for 5 years, or limit myself to 3 free withdrawals a year for a slightly higher savings rate"

SHE: "Yeah, but what if you want to buy a car?"

ME: "If I want to buy a car, I'll buy a car...by the way I already have a car"

SHE: "Or a yacht"

ME: "I don't like boats"

SHE: "But you could spend the interest on things"

ME: "Like what?, I'm not materialistic, and I'm not going to be boosting the economy with consumer spending on stuff I don't need"

SHE: "Yes, but you're missing out on interest! You should really have more than one account for this amount of money"

ME: "I do have more than 1 account, a Current Account which you pay me no interest on, and a Savings account which you pay me virtually no interest on"

SHE: "But you could use the money to give to charity"

ME: "I already gave at the office, if the Government wants to use my Income Tax for charity I'll happily accept it"

ME: "And if you can't increase the rate on my savings account why can you offer me a better rate on another one of your products?"

SHE: "'Cos they're not linked to the base rate"

ME: "So, thanks to the BoE my "Savings" are depreciating at approximately 15% per year, does one of your products offer a savings rate of 15%"

SHE: "No"

ME: "So, these other products are not going to stop my "Savings" depreciating either, just ever so slightly slower"

ME: "And are all of these products on your website?"

SHE: "Most of them, but not all"

She continues to try and talk me into booking 2 90 minute meetings with one of their "Financial Advisors" who will quite obviously of been instructed by their superiors to get as many customers with x amount in savings into one of their locked-in savings rates products pronto, maybe before the impending rate rises? I continue to humour her by saying that I can only spare Mondays and I'll will always have something better to do, she even offered Home Visits or Weekends to which I laughed, "Do you really think I want to spend my Saturday in a 90 minute meeting with someone talking about money?"

She finally gave up, I left telling her that "It's all Monopoly anyway, none of it's real"

1-0 to me...

I've never encountered this before, anyone else had the hard sell from some fvckwit who isn't a "Financial Advisor" themselves?

mspL4

My wife gets this every time she pays in a cheque, they want her to transfer it to a PEP or some other risky investment for years locked in.

We came up with a great line to shut them up.

They usually spot one account that has around £100K in it, when they ask her if she wants to see an advisor she duly asks "how much is in the account", £100,000 is the answer", she then gives the great reply "Oh, that is my monthly spending allowance" to which an open mouthed clerk just shuts up in amazement.

By the way, these locked in accounts, the moment you withdraw, most of them you loose all the interest for that year, and they are risky and not secured. Stay away, they only want to gamble with your money.

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  • 152 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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