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Nationwide Building Society

November 24, 2011 by staff 

Nationwide Building Society, Building Society pays interest on cash ISAs as soon as applications to switch are received. NATIONWIDE Building Society has given a £1.6million boost in interest to its cash ISA savers.

The society made a list of ­promises to savers 12 months ago to make things fairer and clearer. These included paying interest to those who switch cash ISAs as soon as applications are received, rather than the industry norm of waiting for balances to arrive from previous providers.

This issue is a major bugbear for savers who can miss out on months of interest on their cash as providers drag their heels to move funds.

Andrew Hagger of moneynet.co.uk says: “Often such promises are little more than marketing fluff. But this is not the case with Nationwide.

“The £1.6m in ­additional interest highlights how much savers are losing at the hands of other ISA providers.” Halifax offers a similar promise. Shouldn’t all providers do the same?

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