Nationwide pays savers 6.25%

LardyCake

Kazza242 wrote:

... So if anyone has already opened the account can you post what this is please?

Well, I applied online yesterday and no max allowed balance was mentioned that I noticed (and I was looking) so I concluded that there was no max...

edit: yes that point 33. does seem to indicate the balance could be at least £300,000 (and I don't think I am going to reach that!)

Kazza242

oldfella wrote:

33. You may withdraw up to £500 in cash each day or up to £300,000 by cheque immediately. Larger amounts may be withdrawn by cheque within several days after making an arrangement with any local branch.

Thanks. That is a high ceiling and the section highlighted in bold suggests that there may even be a higher maximum balance! I do wonder how long the rate will remain competitive especially after the guarantee expires.

RayWolfe

Kazza242 wrote:

It doesn't seem to state what the maximum allowed balance is on the press release.

I have the T&Cs and can't find any reference to maximum. HOWEVER, it does say in Taking Money Out that "..... and up to £300,000 in the form of a NW cheque"!
Could take some time to get to that dizzy hight. ;-)

venkat_2

RayWolfe wrote:

I have the T&Cs and can't find any reference to maximum. HOWEVER, it does say in Taking Money Out that "..... and up to £300,000 in the form of a NW cheque"!
Could take some time to get to that dizzy hight. ;-)

it would take a minimum of 100 years!

RayWolfe

Kazza242 wrote:

I do wonder how long the rate will remain competitive especially after the guarantee expires.

Well, the good thing is that you can close it immediately with no great penalty when they let us down, as they surely will!

KTF

I applied online yesterday via the online banking but have no confirmation and it isnt showing up on the 'apply online' section.

Has anyone else done the same and had the same result?

reehsetin

does anyone know how it matches upto the e-savings account? the interest rate looks 1% higher to me

steve4747

Applied on 23rd for my account online and it is now showing up along with my other accounts in Nationwide Online Banking.

Steve

Burnley_Lad

steve4747 wrote:

Applied on 23rd for my account online and it is now showing up along with my other accounts in Nationwide Online Banking.

Steve

I've just checked mine, and there it is! I'm transferring £250 from my e-savings into this account now.....

free4440273

if i open a joint account (both of us are standard tax payers, both working full time) would this be beneficial in terms of the tax paid? what i mean is, would only one of us have to pay tax? thanks all