Nationwide Flexclusive Regular Saver

Gordon_the_Moron

Is the monthly deposit limit per month opening date to 1 month later or per calendar month?

badger09

Gordon_the_Moron wrote: »

Is the monthly deposit limit per month opening date to 1 month later or per calendar month?

Consensus from another thread on this account is that its calendar month. T&C don't spell it out, which I would expect them to do if it was a month from opening

Speculator

The only regular savings account that is not per calendar month that I am aware of is the now closed Stroud and Swindon Regular Saver Plus account.

I once forgot that the month ran from the 21st to the 21st of the following month and accidently made two payments in a month. Luckily, they let me off and said I can leave the extra payment in and still receive the full 4.5%.

Gordon_the_Moron

I think the Santander 5% was from opening date to a month later.

Gordon_the_Moron

badger09 wrote: »

Consensus from another thread on this account is that its calendar month. T&C don't spell it out, which I would expect them to do if it was a month from opening

I'd spell it out either way personally!

Zekko

The monthly deposit limit on the Flexclusive Regular Saver is definitely every calendar month.

Milarky

Speculator wrote: »

The only regular savings account that is not per calendar month that I am aware of is the now closed Stroud and Swindon Regular Saver Plus account.

I once forgot that the month ran from the 21st to the 21st of the following month and accidently made two payments in a month. Luckily, they let me off and said I can leave the extra payment in and still receive the full 4.5%.

I'd overlooked that rule. So I looked up what I did about it at the time: Account was opened on '15th' for £100. A 2nd payment was made on 1st of next month for £150 (thus two payments in the same 'month' but within the monthly limit). Thereafter payments on '1st' of each month at the maximum. By sticking to this method you can't fall foul of the actual restriction of the 'account month'.

badger09

If anyone is still in any doubt over the 'month from opening/calendar month' rule , I opened my Flex Regular Saver on 14 August; transferred another £250 in first thing this morning and it hasn't been rejected

Gromitt

badger09 wrote: »

If anyone is still in any doubt over the 'month from opening/calendar month' rule , I opened my Flex Regular Saver on 14 August; transferred another £250 in first thing this morning and it hasn't been rejected

But will it count for interest earning purposes, or will that be delayed until the 14th of Sept? (ie, no interest on the additional payment for another 13 days).

Zekko

Gromitt wrote: »

But will it count for interest earning purposes, or will that be delayed until the 14th of Sept? (ie, no interest on the additional payment for another 13 days).

No, additional monies will get interest from the first day the money enters the account....

dakkan

Applied on 29th August, but account opened on 1st Sept 2012 with £250 deposit, however backdated to 29th August for interest purposes.

Deposited £250 again on 1st September, it has not been rejected yet. Therefore as long as you deposit £250 Max on the one month you are fine!