What would you like to see as part of the product range?
Nationwide’s Business Savings accounts launched in March 2012, offering a range of instant access and notice accounts for SMEs. Find out more here.
Nationwide is entering the business savings market at a time when more businesses are saving. Furthermore, the business savings market is highly concentrated with over 90% of balances dominated by just five providers. This is why we have entered the market with four new accounts for small and medium-sized business savers to offer a real alternative.
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We may not publish or respond to all comments, but they will all be reviewed by the Commercial team.
Posted by Nationwide Commercial team
In response to Philip: Thank you for your comments. Following feedback received when we piloted these accounts to existing Nationwide Commercial customers we reduced the minimum initial investment to £10,000 (previously £50,000) for Business Saver products and to £100,000 (previously £1 million) for Corporate Saver products. We are keen to meet our customers’ needs wherever possible taking on board feedback to improve our product offering and we will continue to develop our product range over the coming months. Our business savings accounts are provided by Nationwide International Limited (which is a wholly-owned subsidiary of Nationwide Building Society and a part of the Nationwide Group) based in the Isle of Man therefore are not operational via our branches in the UK which restricts the ability to accept cash deposits. All deposits need to be made by BACS or CHAPS, the most secure way of transferring funds into these accounts. The interest rates we offer on our business savings accounts compare favourably to the main deposit takers in this market.
Date posted - 09/05/2012 13:35:49
Why are the minimum balances so high?
Why can't deposits be made by cheque or cash?
The interest rate isn't that good for a minimum balance of £10000.
Date posted - 03/05/2012 21:42:31
We listen to your suggestions and make changes where we can. See some of the differences you've helped us to deliver.
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