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  • FIRST POST
    • UKSBD
    • By UKSBD 15th Sep 17, 4:57 PM
    • 455Posts
    • 141Thanks
    UKSBD
    Nationwide FlexDirect - When to pay money in?
    • #1
    • 15th Sep 17, 4:57 PM
    Nationwide FlexDirect - When to pay money in? 15th Sep 17 at 4:57 PM
    I opened a FlexDirect account in branch, it took a week or more before receiving cards, login details, etc. but once I did I created an Online account.


    I paid £2750 opened in to my FlexDirect then opened a Flex Regular Saver 2 account and transferred £250 in to that.


    My questions are;


    When do I have to pay the next £1000 in to my FlexDirect?


    When can I pay another £250 in to my Flex Regular Saver account?


    I paid the £2750 in on 10th September, does that mean I have to pay another £1000 in between 10th October and 10th November?


    I paid the £250 in to my Flex Regular Saver 2 on 10th September does that mean I can pay another £250 in after 11th October?
Page 1
    • teddysmum
    • By teddysmum 15th Sep 17, 5:11 PM
    • 8,228 Posts
    • 4,894 Thanks
    teddysmum
    • #2
    • 15th Sep 17, 5:11 PM
    • #2
    • 15th Sep 17, 5:11 PM
    Pay in any time in the next calendar month, but put the savings money in as soon as possible to get a full month's interest.
    • UKSBD
    • By UKSBD 15th Sep 17, 5:20 PM
    • 455 Posts
    • 141 Thanks
    UKSBD
    • #3
    • 15th Sep 17, 5:20 PM
    • #3
    • 15th Sep 17, 5:20 PM
    Pay in any time in the next calendar month, but put the savings money in as soon as possible to get a full month's interest.
    Originally posted by teddysmum

    Thanks, but that's what I was trying to work out, and what is meant buy calendar month


    Is a calendar month from the day you pay the money in until the same day the following month? or does it start from the date the account was opened?


    I can't find anywhere Online which says what date the account was opened, do they use the 1st transaction date?
    • colsten
    • By colsten 15th Sep 17, 5:26 PM
    • 8,721 Posts
    • 7,383 Thanks
    colsten
    • #4
    • 15th Sep 17, 5:26 PM
    • #4
    • 15th Sep 17, 5:26 PM
    A calendar month is a calendar month.

    There's only be a question over what they mean if they simply said "month".
    • UKSBD
    • By UKSBD 15th Sep 17, 5:29 PM
    • 455 Posts
    • 141 Thanks
    UKSBD
    • #5
    • 15th Sep 17, 5:29 PM
    • #5
    • 15th Sep 17, 5:29 PM
    A calendar month is a calendar month.

    There's only be a question over what they mean if they simply said "month".
    Originally posted by colsten


    Starting from when though?


    The date I opened the account or the date I 1st paid in to it?
    • xylophone
    • By xylophone 15th Sep 17, 5:33 PM
    • 22,881 Posts
    • 13,241 Thanks
    xylophone
    • #6
    • 15th Sep 17, 5:33 PM
    • #6
    • 15th Sep 17, 5:33 PM
    You pay in any time in January and you can make the next payment at any time in February/March/ April etc.

    With regard to the saver, let's suppose you opened it on 1Oth January - you can pay in again as early as 1st Feb if you wish.
    • UKSBD
    • By UKSBD 15th Sep 17, 5:41 PM
    • 455 Posts
    • 141 Thanks
    UKSBD
    • #7
    • 15th Sep 17, 5:41 PM
    • #7
    • 15th Sep 17, 5:41 PM
    You pay in any time in January and you can make the next payment at any time in February/March/ April etc.

    With regard to the saver, let's suppose you opened it on 1Oth January - you can pay in again as early as 1st Feb if you wish.
    Originally posted by xylophone

    Thanks,


    that is what I assumed a calendar month was, but the Collins Dictionary say that, but also says;


    "A calendar month is the period from a particular date in one month to the same date in the next month, for example from April 4th to May 4th."


    This seems to contradict the 1st answer they give.


    source: https://www.collinsdictionary.com/dictionary/english/calendar-month
    • alanq
    • By alanq 15th Sep 17, 5:43 PM
    • 3,727 Posts
    • 2,385 Thanks
    alanq
    • #8
    • 15th Sep 17, 5:43 PM
    • #8
    • 15th Sep 17, 5:43 PM
    As you opened the accounts in September the next payments must be made between 1st October and 31st October.

    For the avoidance of doubt it would be nice if Nationwide gave examples rather than just assuming customers know what they mean.
    Last edited by alanq; 15-09-2017 at 5:46 PM.
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    • UKSBD
    • By UKSBD 15th Sep 17, 5:46 PM
    • 455 Posts
    • 141 Thanks
    UKSBD
    • #9
    • 15th Sep 17, 5:46 PM
    • #9
    • 15th Sep 17, 5:46 PM
    I'm really confused now as keep finding contradictory definitions for Calendar Month


    Is a calendar month definition for bank accounts different to a business definition of calendar month?
    • UKSBD
    • By UKSBD 15th Sep 17, 5:48 PM
    • 455 Posts
    • 141 Thanks
    UKSBD
    As you opened the accounts in September the next payments must be made between 1st October and 31st October.

    For the avoidance of doubt it would be nice if Nationwide gave examples rather than just assuming customers know what they mean.
    Originally posted by alanq

    I actually opened it in August but didn't pay any money in until September.


    Do they ignore the 1st month?
    • ceredigion
    • By ceredigion 15th Sep 17, 7:31 PM
    • 2,300 Posts
    • 2,806 Thanks
    ceredigion
    Pay in 250 a week, just to be sure.
    • surreysaver
    • By surreysaver 15th Sep 17, 8:04 PM
    • 2,248 Posts
    • 1,272 Thanks
    surreysaver
    Thanks,


    that is what I assumed a calendar month was, but the Collins Dictionary say that, but also says;


    "A calendar month is the period from a particular date in one month to the same date in the next month, for example from April 4th to May 4th."


    This seems to contradict the 1st answer they give.


    source: https://www.collinsdictionary.com/dictionary/english/calendar-month
    Originally posted by UKSBD
    In which case, Collins is wrong, as April 4th to May 4th would be one month and one day. A 'calender month' would be from the first day of the month until the last day of the month. Some banks use 'statement months', which could, for example, be April 4th until May 3rd.
    I consider myself to be a male feminist. Is that allowed?
    • polymaff
    • By polymaff 15th Sep 17, 8:48 PM
    • 1,680 Posts
    • 716 Thanks
    polymaff
    that is what I assumed a calendar month was, but the Collins Dictionary say that, but also says;

    "A calendar month is the period from a particular date in one month to the same date in the next month, for example from April 4th to May 4th."

    This seems to contradict the 1st answer they give.
    Originally posted by UKSBD
    No, the usage in the Nationwide T&Cs is as a noun, and the CED definition of calendar month as a noun is quite correct - and it is not what you have quoted.

    Time to brush up your grammar, perhaps?
    • clivep
    • By clivep 16th Sep 17, 11:57 AM
    • 124 Posts
    • 36 Thanks
    clivep
    I did quite a bit of research on the term "calendar month" a while back and the results were ambiguous.

    In terms of the Nationwide accounts I can confirm they simply mean the next month on the calendar. So for a regular saver opened and paid into on the last day of a month then you could (and should) make the next payment the day after on the 1st of the following month.
    • Neil Jones
    • By Neil Jones 16th Sep 17, 12:27 PM
    • 732 Posts
    • 392 Thanks
    Neil Jones
    Different banks have different ways of interpreting a month.

    Nationwide as you say is a calendar month, 1st-30th/31st, whereas Santander for example is the 15th to the 14th of the next month - ie a rolling 30/31 days.
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