Nationwide Flexclusive Saver 5
Comments
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lemonjelly wrote: »I rang their customer services this afternoon & they told me there's no limit on the opening amount (up to the £5million maximum)!
Try it, you'll find that the payment bounces back to the originating account.0 -
Interest is paid once per year OR on account closure.0
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MoneyInTheBank wrote: »Hi,
I currently have 3k in the reg saver (12x £250) and im now going to use this money to top up other accounts. Will taking this money out affect:
a) the interest being paid on what I believe is 31/12/2013
b) the 2% interest being accrued in future if i was to deposit the monthly max amount of 1k i think it is?
Also i just wondered how interest would be paid in the event you closed the account before 31/12/2013?
There are no interest penalties for withdrawing money or even closing the account. You'll be paid everything you're due (at 6% up to 31 October, 2% from 1 November) on 31 December (or when you close the account, if this is sooner).
I suggest you re-read the letter you got from Nationwide this week. It says that this account will convert into a Flexclusive Saver on 1 November - there's no maximum monthly deposit on this account, you can pay in and withdraw whenever you like, and get 2% on it all.
The account that has a maximum monthly deposit of £1k is the Regular Saver, which pays 2.5%.0 -
One or two people have asked for more details. I have scanned in the letter I received, front and back. My personal details are blanked out, but I would expect everything else is the same for anyone who received this letter.
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bluebell321 wrote: »Does this mean that the Flexclusive Saver issue 4 showing online will turn into issue 5 tomorrow and be available to all who meet the criteria?
All we know is that "Flexclusive Saver 5" (which may or not actually be Flexclusive Saver Issue 5" should be released tomorrow and released to all who have an current account with Nationwide (will additional restrictions applying to FlexAccount holders)0 -
All we know is that "Flexclusive Saver 5" (which may or not actually be Flexclusive Saver Issue 5" should be released tomorrow and released to all who have an current account with Nationwide (will additional restrictions applying to FlexAccount holders)
It won't necessarily be available to anyone tomorrow. It could immediately become a closed issue for ex Flexclusive Regular Saver accounts only. Any new Flexclusive Saver would then be issue 6. We'll have to wait and see what they advertise tomorrow.0 -
It won't necessarily be available to anyone tomorrow. It could immediately become a closed issue for ex Flexclusive Regular Saver accounts only. Any new Flexclusive Saver would then be issue 6. We'll have to wait and see what they advertise tomorrow.
It doesn't look like its available to new customers. When you go on their interest rates page to see this account, it has a link saying view current issue of this account (or similar), which redirects you to issue 4.0 -
guesswho2000 wrote: »It doesn't look like its available to new customers. When you go on their interest rates page to see this account, it has a link saying view current issue of this account (or similar), which redirects you to issue 4.
It probably makes sense to be honest. Why would Nationwide decide to bring out a market leading savings account? Saying that though, I see that my Flexclusive Regular Saver has just changed into "Flexclusive Saver 5", making no mention its issue 5, so I've just moved my entire contents of my Loyalty Saver (1.9%) into it. I know it's only 0.1% extra, but considering its a 2-click transfer, might as well.
I expect it to last a few months before dropping the interest rate and having to move it all back again.0 -
It might not be called issue 5, but that's effectively what it is. When searching for interest rates on the "an existing account that I already hold" tab, and selecting Flexclusive Saver, it asks you to select your issue number (issue 1 - issue 5) and when you select issue 5, the Flexclusive Saver 5 comes up. It seems to have been issued just to replace the Flexclusive Regular Saver (1).0
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I moved mine (bar the £1 min balance) to Santander 123 this morning and asked them to close the account and put the £1 and any interest in my FlexAccount so I can transfer that away as well.0
This discussion has been closed.
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