Nationwide Flexclusive Saver 5

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.

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%.

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)

EarthBoy wrote: »

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.

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).