Nationwide Building Society is a British mutual financial institution, the seventh largest cooperative financial institution and the largest building society in the world with over 15 million members. Its headquarters are in Swindon, England. It offers a large range of financial services including current accounts, savings, mortgages, loans, credit cards, insurance, investments and more.
Nationwide offer a range of savings accounts including cash, fixed and variable interest ISAs:
Topics
1 Year Triple Access Online ISA
Nationwide’s Triple Access Plan allows you to save up to the annual statutory limit of £20,000 for the 2020 / 2021 tax year, completely tax-free. It is designed for savers who already have or plan to open a current account or suitable instant access savings account with Nationwide. It has a variable rate of interest of 0.25% AER. You can make three withdrawals during the 12-month term without losing any interest.
1 year Fixed Rate ISA
Nationwide’s 1 Year Fixed Rate ISA offers a fixed interest rate of 0.30% AER tax-free for longer term savings. You can open an account with just £1, up to a maximum of £20,000. You can transfer existing ISA funds into the account. This account does not allow part withdrawals. You can close the account and withdraw the whole of the balance during the fixed term, subject to payment of an early access charge.
Instant ISA Saver
Nationwide’s Instant ISA Saver allows you to save up to the annual statutory limit of £20,000 for the 2020 / 2021 tax year, completely tax-free. It has a variable interest rate of between 0.01-0.05% AER; the interest rate is dependent on the balance in your account and applies to your entire account balance. It is an instant access account, so you can withdraw money at any time with fees or penalties. Transfers in are also allowed anytime.
Other Services
Nationwide offers a large range of financial services including current accounts, savings, mortgages, loans, credit cards, insurance, investments and more.
Nationwide Reviews and Ratings
Online reviews for Nationwide are fairly mixed with some polar opinions on whether this is a good company or not. Many customers have complained about terrible customer service, unprofessional staff, unclear policies and the frustration of being locked out of their accounts. Others, though, have experienced good value for money and have been pleased with the customer service they have received.
Trustpilot – 1.8/5 (based on 2,573 reviews)
Reviews.io – 4.48/5 (based on 64 reviews)
Pros
- A trusted brand
- The largest building society in the world
- A large range of savings accounts including cash, fixed and variable interest ISAs
- 14 day cooling offer period on product taken out
- A well informed website
- Decent online FAQs and supporting information
- Easy to manage accounts online
Cons
- Cash ISAs only
- Stocks and Shares, Lifetime ISAs and other ISA products not offered
- Some very bad customer reviews
- Complaints about poor customer service and unprofessional staff
- Customer frustrations of being locked out of their accounts
Website: Nationwide