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Nationwide will be making changes impacting millions of its customers from October 1.

The building society is slashing rates on a number of its savings accounts, with the new rates to take effect from Wednesday.

It will come as a blow for savers as rates drop by between 0.20% and 0.25%, with most accounts affected.

READ MORE: Nationwide, Lloyds, NatWest and Santander customers 'should withdraw entire bank balance'

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Customers may now want to consider whether their Nationwide account is still right for them, or they would rather look for better deals elsewhere.

Some banks, particularly those which operate online only, are still offering rates of 4% or higher.

Latest Nationwide cuts follow a drop in th

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