Nationwide Flexclusive Saver 5

A bit of good news for holders of the Nationwide Flexclusive Regular Saver, and may be for other savers too. Relatively speaking, anyway.

When the Regular Saver period ends on 31/10/13, the account automatically becomes a Flexclusive Saver 5, with 2% AER (variable). That's the bad news but there is good news: you can now deposit as much as you like, and you won't get 2% anywhere else for an instant access savings account..


It also appears that the Flexclusive Saver 5 will be available to anyone who has a FlexPlus or FlexDirect, or has a Flexaccount and has been paying in £750 a month for the last three months or will formally switch from a non-Nationwide account.

This information is from a Nationwide letter I received this morning. I can't see anything on the Nationwide website yet about the Flexclusive Saver 5 but worth keeping a watch on it if you are looking for the best instant access saver in the market.
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Comments

  • fiesta04
    fiesta04 Posts: 516 Forumite
    If you look on the back of the letter, in the purple box, it states if you increase the balance by £500-£1000 monthly, that you will get 2.5%pa/AER. Admittedly this looks like a different Account as it only says Reg Saver.

    So is it such a good deal or have I misread it?

    F4
  • ColdIron
    ColdIron Posts: 8,901
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    fiesta04 wrote: »
    If you look on the back of the letter, in the purple box, it states if you increase the balance by £500-£1000 monthly, that you will get 2.5%pa/AER. Admittedly this looks like a different Account as it only says Reg Saver.

    So is it such a good deal or have I misread it?
    F4
    That's the stock Regular Savings Account that's been going for a while now, though I'm very interested in the Flexclusive Saver 5 if it pays 2% to holders of a FlexDirect account who haven't had the Flexclusive Regular Saver
  • Archi_Bald
    Archi_Bald Posts: 9,681
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    fiesta04 wrote: »
    If you look on the back of the letter, in the purple box, it states if you increase the balance by £500-£1000 monthly, that you will get 2.5%pa/AER. Admittedly this looks like a different Account as it only says Reg Saver.

    So is it such a good deal or have I misread it?

    F4

    The 2.5% Reg Saver has been available forever. It's quite an interesting account if you are maxed in the current accounts etc. But all you can get in is £1K a month.

    The Flexclusive Saver 5 makes a great feeder account for that 2.5% Regular Saver, and its also good for anyone who is desperate for an instant savings account (after maxing the current accounts).
  • beansy
    beansy Posts: 410
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    Archi_Bald wrote: »
    The 2.5% Reg Saver has been available forever. It's quite an interesting account if you are maxed in the current accounts etc. But all you can get in is £1K a month.

    The Flexclusive Saver 5 makes a great feeder account for that 2.5% Regular Saver, and its also good for anyone who is desperate for an instant savings account (after maxing the current accounts).

    Thank you.

    I stopped paying into ours when the Flexclusive saver came out but just noticed this is paying a higher rate than our 15 yr Loyalty Saver @ 2.10% so I have reinstated our mthly payments. :)
  • innovate
    innovate Posts: 16,217
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    Remember that you only get 2.5% AER in the regular saver in those months in which your balance increases by £1,000.
  • Gromitt
    Gromitt Posts: 5,063 Forumite
    innovate wrote: »
    Remember that you only get 2.5% AER in the regular saver in those months in which your balance increases by £1,000.

    You mean £500.

    £1000 is the maximum you can deposit.
  • Hominu
    Hominu Posts: 1,671 Forumite
    The Flexclusive ISA is dropping to 2% as well, which, in the current climate, isn't that bad!
  • innovate
    innovate Posts: 16,217
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    Gromitt wrote: »
    You mean £500.

    £1000 is the maximum you can deposit.
    yes you are right
  • beansy
    beansy Posts: 410
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    We also received an invitation to a local "how to enhance and protect your money seminar" in our local area on 12 November.

    Not had one of these from Nwide before!
  • Archi_Bald
    Archi_Bald Posts: 9,681
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    beansy wrote: »
    We also received an invitation to a local "how to enhance and protect your money seminar" in our local area on 12 November.

    Not had one of these from Nwide before!

    roflmao. This sounds so funny, I might even attend for a laugh if they put one of these on locally to me.
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