Nationwide rewards loyal savers through special bonds with extra interest.
Instead of this, would being entered into a savers' monthly prize draw for up to £100,000 be more attractive to you?
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Posted by Nationwide team
One of the reasons I have saved with Nationwide is because they have NOT been gambling with my money. I don't think gambling should be condoned by a building society irrespective of context. Besides I am not lucky and never win raffles!!!! rewards should not depend on luck
Date posted - 21/10/2011 09:41:35
Why follow Halifax - try to lead again and offer good rates to loyal savers. NW are not at the TOP of all lists like ISA rates and Loyalty Bonds - your aim should be to get to the top and stay there - in which case you will retain our loyalty.
Date posted - 21/10/2011 09:41:13
Winning is fun. Halifax are doing this already, and I've moved my money there. Their rates are better and you could win a hundred grand. Much better than a Premium Bond too. Pull your socks up Nationwide!
Date posted - 21/10/2011 09:29:08
Would those who are complaining about NBS encouraging gambling explain to me exactly how this is gambling?
If I went to play the lottery or used a bingo site as some comment-ers have suggested, I would put a certain amount of money and the liklihood of me seeing that money again is low. With true gambling, you stand the chance to lose your money.
This is not gambling. You can get your money back at any time. There is no risk to your funds. How you can justify saying this is gambling, is beyond me.
Sure, you could say you gamble with the risk of getting no return, but what about those with cashbuilder accounts and investdirect getting 0.1% and 0.2% respectively. Are they gambling too, according to your theory?
Date posted - 21/10/2011 09:28:29
happy racegoer said:
I like the idea of winning £100k so sounds a great idea as long as you get good rates... As a customer of Nationwide sad to say they are too low at the moment
Date posted - 20/10/2011 12:38:21
No - just improve loyalty rates for hard pressed savers - those who want to gamble have plenty of other options
Date posted - 20/10/2011 09:32:47
I am totally against a prize draw that rewards a few; all savers should be rewarded with a fair interest rate that encourages them to continue saving. Having a prize draw detracts from that aim.
Date posted - 20/10/2011 09:19:24
This idea would exclude me from this product. Nationwide should not be encouraging gambling.
Date posted - 20/10/2011 09:18:16
I agree with Pspato - this is a brilliant idea and is a welcome development against a backdrop of low base rates. Halifax have recently launched a similar product but with the added benefit of paying interest on the underlying balance as well as free entry into the monthly draw - unlike premium bonds where interest is forfeited. Worth mentioning that the Halifax draw actually pays out 3 x £100,000 + 1,100 smaller prizes each month
Date posted - 19/10/2011 20:13:11
What a fantastic idea - the introduction of a prize draw, is a truly innovative way of rewarding customers. Coupled with good strong rates, it's creative, fun and I'd definitely sign up for something like that.
Date posted - 19/10/2011 09:12:45
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