How to become a member?


T

Tom Bradbury

Since 1997 Nationwide BS have stopped people making speculative depositors
by saying that they waive their rights to any windfall if they converted and
lost their mutual status. I have been a loyal Nationwide customer since
1998, and in some ways, I'm a bit peeved about this clause, because although
I agree that they should stop people just carpet bagging, Nationwide should,
I think, recognise the benefit it and the other members have had from my
money being deposited with them for all these years. I am not overly
convinced that they offer consistently that good rates compared to other non
mutual organisations, but I do like them because of the convenience of the
local branch and the staff are really nice and friendly. It would be nice
to think that after all this time, I could become a real member, and all the
rights and benefits that *may* convey if at anytime in the future they did
ever convert. I suppose that makes me sound like a carpet bagger but its
not meant to be.
 
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R

Rob graham

Tom Bradbury said:
Since 1997 Nationwide BS have stopped people making speculative depositors
by saying that they waive their rights to any windfall if they converted
and lost their mutual status. I have been a loyal Nationwide customer
since 1998, and in some ways, I'm a bit peeved about this clause, because
although I agree that they should stop people just carpet bagging,
Nationwide should, I think, recognise the benefit it and the other members
have had from my money being deposited with them for all these years. I
am not overly convinced that they offer consistently that good rates
compared to other non mutual organisations, but I do like them because of
the convenience of the local branch and the staff are really nice and
friendly. It would be nice to think that after all this time, I could
become a real member, and all the rights and benefits that *may* convey if
at anytime in the future they did ever convert. I suppose that makes me
sound like a carpet bagger but its not meant to be.
OK, so you're a genuine customer. But how do they know that? What about all
the others?

Rob Graham
 
T

Tom Bradbury

OK, so you're a genuine customer. But how do they know that? What about
all the others?
Because they've had good use of my money for nearly 10 years? If I was a
fly-by-night I'd never have invested or would have pulled out long ago.
Perhaps if they changed their rules to say that you become a full member
with all the rights and privileges if you invest with them for more than 5
years, and maintain a relatively high average balance (over £10K), then it
would most likely put off all but the most determined carpet baggers, as
most people don't have that kind of spare cash to leave around for that
amount of time.
 
A

Andy Pandy

Tom Bradbury said:
Since 1997 Nationwide BS have stopped people making speculative depositors
by saying that they waive their rights to any windfall if they converted and
lost their mutual status. I have been a loyal Nationwide customer since
1998, and in some ways, I'm a bit peeved about this clause, because although
I agree that they should stop people just carpet bagging, Nationwide should,
I think, recognise the benefit it and the other members have had from my
money being deposited with them for all these years. I am not overly
convinced that they offer consistently that good rates compared to other non
mutual organisations,
There are more subtle things which make them better - such as not marking up the
exchange rate for foreign currency transactions, and allocating credit card payments
in a favourable way for the customer.
but I do like them because of the convenience of the
local branch and the staff are really nice and friendly. It would be nice
to think that after all this time, I could become a real member, and all the
rights and benefits that *may* convey if at anytime in the future they did
ever convert. I suppose that makes me sound like a carpet bagger but its
not meant to be.
You *are* a real member. You have exactly the same rights as any other member, it's
just you've signed something saying that any conversion windfall will go to charity.
 
J

John Boyle

Tom Bradbury said:
Because they've had good use of my money for nearly 10 years?
But they have paid you interest on it.
If I was a
fly-by-night I'd never have invested or would have pulled out long ago.
Perhaps if they changed their rules to say that you become a full member
with all the rights and privileges if you invest with them for more than 5
years, and maintain a relatively high average balance (over £10K), then it
would most likely put off all but the most determined carpet baggers, as
most people don't have that kind of spare cash to leave around for that
amount of time.
That would be inequitable. Dont forget you ARE a full member. The only
difference is you wont get a windfall.
 
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A

Alec

Tom Bradbury said:
Since 1997 Nationwide BS have stopped people making speculative depositors
by saying that they waive their rights to any windfall if they converted
and lost their mutual status. I have been a loyal Nationwide customer
since 1998, and in some ways, I'm a bit peeved about this clause, because
although I agree that they should stop people just carpet bagging,
Nationwide should, I think, recognise the benefit it and the other members
have had from my money being deposited with them for all these years. I
am not overly convinced that they offer consistently that good rates
compared to other non mutual organisations, but I do like them because of
the convenience of the local branch and the staff are really nice and
friendly. It would be nice to think that after all this time, I could
become a real member, and all the rights and benefits that *may* convey if
at anytime in the future they did ever convert. I suppose that makes me
sound like a carpet bagger but its not meant to be.
I think your not benefiting from windfall profit expires 5 years after
opening an account.

Alec
 
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