New alert reveals changes in rates:will it work?

Sarah Coles
Nationwide
Nationwide

Fiona Hanson/PA Wire/Press Association Images

Nationwide has announced a text and email service that will let customers know when their rate changes - or when there's a new product around that might suit them better. It's being called 'Savings Watch'.

But will it make a substantial difference to your savings, or will you be caught by the catch?