Customers desert high street banks for Nationwide
Nationwide is experiencing a deluge of new customers - over 1,000 day – who are turning their backs on high street banks and running wildly towards the building society with their bags of cash.
Despite their monumental e-banking crashes of a few weeks ago, it seems that people are going crazy for Nationwide’s FlexDirect current account, which pays 5% interest rate on balances over £2500. In fact, their new customer figures are up by 58% on last year.
According to Which! over a quarter of banking customers have some kind of problem with their current account and have made complaints. And although we tend to remain with our banks for years, it’s more likely we’re staying because we’re worried something will go wrong, rather than out of a sense of loyalty.
But with plenty of other places such as the Post Office, M&S and Tesco offering good current account deals at the moment, it looks like the established banks are going to have to come up with something.
Just to demonstrate how much banks are losing the plot, First Direct is offering customers £100 to switch to them – and an extra £200 if you LEAVE.
Yes, if you decide they suck, they’re going to give you £200 anyway. Quick, switch now! Then set up an account with Nationwide and get 5% interest on your readies.