savings help

steven--1_2

ColdIron wrote: »

You should leave the £2,500 in there but you also need to transfer £1,000 in every month. Do this from another account, I can't remember if it has to be a non-Nationwide one. It only needs to stay there for a moment and you can transfer it straight back out again

Yes, you will need a 1st Account (a current account). You can avoid all the prerequisites, such as transferring or maintaining a minimum balance, by opening an e-Saver at the same time and putting a pound in it

so if I open a 1st account and an e-saver at the same time I don't have to pay in £1000 a month in to the current account?

ColdIron

steven--1 wrote: »

so if I open a 1st account and an e-saver at the same time I don't have to pay in £1000 a month in to the current account?

Yep, you got it

steven--1_2

ColdIron wrote: »

Yep, you got it

thanks:)
and I don't have to pay the account fee?

steven--1_2

sorry but do I have to open an e-saver or could I open the regular saver account instead?

ColdIron

steven--1 wrote: »

thanks:)
and I don't have to pay the account fee?

Nope

I'd check out MoneySaverLog's suggestion in post #7, it's good advice. Also wrt to your question in your other post, you won't get 6% on the full £3,000 as you don't have the full balance for a full year. Again try out the Regular Saver Calculator link, you should get about £92 after tax. Still a good deal

ColdIron

steven--1 wrote: »

sorry but do I have to open an e-saver or could I open the regular saver account instead?

You have to open a first account first before you can get the Regular Saver. The e-saver is what waives all the charges etc so you need all 3

steven--1_2

thanks coldiron you have been great
as with regards to the flex direct account I must pay in £1000 a month could I transfer £1000 out of the £2500 I keep in there then transfer it back in? or would it have to be a separate £1000

ColdIron

steven--1 wrote: »

thanks coldiron you have been great
as with regards to the flex direct account I must pay in £1000 a month could I transfer £1000 out of the £2500 I keep in there then transfer it back in? or would it have to be a separate £1000

If you transfer £1,000 from the FlexDirect to another non-Nationwide account (such as the First Direct 1st account) and transfer it straight back in that'll be just fine