Nationwide (UK): entry into the Irish savings market!

A

AMatt

Registered User
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I'm surprised no-one has commented on the Nationwide's (UK) entry into the Irish savings market - unless I've missed that particular thread.

Their new website is at [broken link removed]

Quick summary of accounts on offer:
Easy access: 2.75% var, min €2000
Fixed 6 mth: 3.02%, min €3000
Fixed 9 mth: 3.11%, min €3000

See [broken link removed]

I had a quick look at the application forms and there are some unusual questions in section 6, such as how did you generate the money you're saving with them! Perhaps this is a new requirement from the regulator?
 
Is Nationwide Ireland covered under the UK scheme? And does this cover extend to the Irish Branch?

thanks
R
 
When opening by Post they don't explicitly mention any crossing of the cheque which is a bit unusual to me as applications with other banks I've used usually state to cross any cheque.

I presume crossing the cheque a/c payee only won't screw up the application? I mean anyone sending a cheque through the Post without crossing it is really risking some trouble...
 
MysticX said:
I presume crossing the cheque a/c payee only won't screw up the application? I mean anyone sending a cheque through the Post without crossing it is really risking some trouble...
Click to expand...

I crossed mine a/c payee last week and they accepted it. Very fast turnaround too, I posted on Friday and received my account details and ID documents back in the post on the following Tuesday
 
I also experienced a very fast turn around when opening my account. Did my lodgement by electronic transfer.

Very happy with the service so far.
 
Is it easy to change the nominated account once your setup?

I'm a Halifax orphan so am moving my savings, current account etc concurrently to different banks; so my nominated account will change shortly down the road.
 
Yeh you need to use telebanking, dont think you can do it online.

Still easy enough though
 
You weren't kidding regarding the fast turnaround... 4 days TAT:).
Good impression so far.
 
I'm thinking about opening an account with Nationwide UK. I just wanted to double check the UK guarantee and I can see that it's mentioned on their website.

However, there is a list published on the UK FSCS website (I can't post URLs yet) and I can't see a mention of Nationwide Building Society anywhere. The file name is jan10.pdf and it's on the fsa.gov.uk --> pubs --> list_banks --> 2010 link.

Am I missing something?
 
It is covered by the FSA.

The Irish Financial Regulator states this as does the Nationwide UK website.
 
Bumping this thread to ask people's gut feelings on Nationwide UK? I have c. 50K to park for up to a year and the savings account interest rate is comparatively attractive, but I am (maybe needlessly) wary of smaller institutions advertizing comparatively high interest rates to attract floating money.

Aside from the guarantee question some people raised, is the rate likely to be drastically cut back soon? Or, worse, are they likely to pull out of the Irish market? (They issued a press release recently announcing their commitment to Ireland, but if anything that made me more wary. Protesting too much, etc.) Impossible questions to answer with certainty, I know, but if anyone had any thoughts on Nationwide UK, I'd be very grateful to hear 'em.
 
Their 1 year rate is now lower than their demand rate - that's normally a good sign of an impending cut in the demand rate. Probably a small cut though.

Think they're viewed as one of the "safer" banks in the Irish market. I would have more general concerns about the risk of leaving the euro given the headcases that are getting more and more media time these days
 
camlin90 said:
Their 1 year rate is now lower than their demand rate - that's normally a good sign of an impending cut in the demand rate. Probably a small cut though.
Click to expand...

Maybe.

Nationwide UK are heavily advertising the 3.30% rate, they are aggressively persuing deposits and recently reviewed their rates.
 
Yes, you can complete your first deposit by EFT. The very first step is obviously to complete the account opening documentation.
 
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