Regular Savings Accounts: The Best Currently Available List!

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  • Zanderman
    Zanderman Posts: 4,683 Forumite
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    schiff wrote: »
    ....I'm not paying for a FlexPlus account and I'm not 17 any more so it appears to me that I may not be able to open the new Regular Saver
    without keeping the FlexDirect open. 1% on the FlexDirect for the next 12 months is not attractive, but 5% on the Regular Saver is.

    You don't need to open a FlexPlus. Convert the FlexDirect to a FlexAccount.

    Double check this approach still fits the T&C though - should do I think, but wording isn't designed for a change in accounts so is a bit ambiguous.
  • schiff
    schiff Posts: 20,099 Forumite
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    Zanderman wrote: »
    You don't need to open a FlexPlus. Convert the FlexDirect to a FlexAccount.

    Double check this approach still fits the T&C though - should do I think, but wording isn't designed for a change in accounts so is a bit ambiguous.

    The Flex Account is not a 'qualifying' account at my stage. I've never had one so I haven't deposited £750 per month for three months. Maybe Nationwide would consider my year of £1000 monthly deposits into the FlexDirect as being in the spirit of the thing? But we still can't be sure.
  • trix-a-belle
    trix-a-belle Posts: 1,481 Forumite
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    schiff wrote: »
    The Flex Account is not a 'qualifying' account at my stage. I've never had one so I haven't deposited £750 per month for three months. Maybe Nationwide would consider my year of £1000 monthly deposits into the FlexDirect as being in the spirit of the thing? But we still can't be sure.

    Thats why Zanderman said convert the flexdirect to the flex account rather than open a new one, a new one would have no history, a downgraded flexdirect to flexaccount would show you have been making credits which meet the requirements. when i've closed flexdirects they have always asked if i want to just downgrade it so am pretty sure the downgrade will fit the bill
    - Mortgage: 1st one down, 2nd also busted
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  • schiff
    schiff Posts: 20,099 Forumite
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    trix-a-belle wrote: »
    Thats why Zanderman said convert the flexdirect to the flex account rather than open a new one, a new one would have no history, a downgraded flexdirect to flexaccount would show you have been making credits which meet the requirements. when i've closed flexdirects they have always asked if i want to just downgrade it so am pretty sure the downgrade will fit the bill

    That clarifies things for me nicely. I had wrongly assumed that downgrading meant a form of closing the old account. TY :)
  • hgt
    hgt Posts: 329 Forumite
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    Is there any way to downgrade a FlexDirect to a standard FlexAccount online? I'll be needing to do this soon as my 12 months is almost up.
  • Mee
    Mee Posts: 1,441 Forumite
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    glider3560 wrote: »
    I've made three withdrawals, over three years (most recent Feb 2017), no ID was required. Just wrote a letter which I signed and posted to them. Cheque came a few days later.

    They don't do BACS for Faster Payments, just CHAPS at £25.

    I guessed it was a CHAPS payment for which I was being quoted.... They offer BACS on certain products, obviously not this saver.
    Will use the cheque option.

    Did everyone save the max per month (£500)?
    Free thinker.:cool:
  • mhoc
    mhoc Posts: 19,262 Forumite
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    hgt wrote: »
    Is there any way to downgrade a FlexDirect to a standard FlexAccount online? I'll be needing to do this soon as my 12 months is almost up.

    I downgraded mine over the phone - its a very long job as the girl has to read out all of the pages to you. Your card and account number etc don't change.

    I then opened a new Flexdirect online (I think you are allowed three) I was sent the forms for the free European travel insurance. I put in £2500 which resulted in £10.38 in interest at the end of August. Then I set up a new Flex regular saver 5% which only allows £250 a month but still better than nothing.
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
  • schiff
    schiff Posts: 20,099 Forumite
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    mhoc wrote: »

    I then opened a new Flexdirect online (I think you are allowed three) I put in £2500 which resulted in £10.38 in interest at the end of August. Then I set up a new Flex regular saver 5% which only allows £250 a month but still better than nothing.

    I think this might surprise a few people on here :)
  • mhoc
    mhoc Posts: 19,262 Forumite
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    schiff wrote: »
    I think this might surprise a few people on here :)

    Have I made that up - just wondering where I got my info from now or if I misread something somewhere ......
    I know I have only ever had one flexdirect at a time but I seemed to think you could have 3 different ones running at the same time.
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
  • Wheres_My_Cashback
    Wheres_My_Cashback Posts: 4,294 Forumite
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    castle96 wrote: »
    I have 3 4 and 5 (what happened to 6) and have just opened 7.
    Will it be closed/recinded ?

    Banks are very well known for their ambiguity :(

    However.....

    Please note that you cannot open a Regular Saver (Issue 7) if you already have a Regular Saver (Issue 5 or 6).
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