Nationwide launch new 5 per cent regular saver for current account customers

veryintrigued

As above Notts B.S regular savers (normally two introduced a year) are introduced as variable nowadays.

bsms1147

Kim_13 wrote: »

Don't think I qualify at the minute (downgraded FlexPlus middle of Nov and didn't pay in £750 that month.) Oh well, I'll up my pay ins and apply in 3 months or when my TSB Saver is up.

Hopefully this account won't be setting a record for the shortest time on offer.

Apply for one online now. It will probably work. What's the worst that will happen?

MrsWenger

Hi, I have read the whole thread and referred to the Nationwide website; I would appreciate it if someone could assist with my questions please.

We have a joint qualifying current account and I am keen to open two of these new regular saver accounts. I understand that I need to apply using the "workaround" in post 93 and set up savings accounts in single names to make the £500 per month transfers from. Looking at the website, should I set up Instant Access Saver accounts for this purpose? Will it be OK to transfer £500 to one of these accounts from the Nationwide current account as it is in joint names or should I fund them both from other current accounts such as Santander?

I apologise if my post frustrates anyone; I genuinely don't fully understand the process I should follow despite the very helpful information posted so far

Many thanks,

Tracey

Nick_C

TartanSaver wrote: »

I have never been aware of a regular saver being variable before, always explicitly fixed.

I have the Yorkshire BS regular saver Issue 1, opened in 2007. It has a variable interest rate. Used to be 6%. Now only 3.75%, but you can have up to £20K in there :-) No longer available to open, but existing account holders are sitting pretty.

Kim_13

bsms1147 wrote: »

Apply for one online now. It will probably work. What's the worst that will happen?

Worried that if refused, they won't let me have one in the future when I do meet the criteria, for trying to beat the system.

It would be better/easier if like TSB, they had a note to the side of the account if you are not eligible (at least they had this when I last looked at their savings range.)

2010

Has anyone logged into NW and applied and was it done instantly or did it say "our dedicated team will now process your application and you`ll know in the next 7 days"?

YorkshireBoy

2010 wrote: »

Has anyone logged into NW and applied and was it done instantly or did it say "our dedicated team will now process your application and you`ll know in the next 7 days"?

Mine was opened and funded "instantly". Did you select a card?

B_G_B

2010 wrote: »

Has anyone logged into NW and applied and was it done instantly or did it say "our dedicated team will now process your application and you`ll know in the next 7 days"?

Mine was opened instantly. Just had to wait for overnight update for the account to appear online.

2010

YorkshireBoy wrote: »

Mine was opened and funded "instantly". Did you select a card?

The way you told me to do it was to not log in and to put sole account.
I filled everything in and it didn`t give you a choice about the card.
I filled in to take the intial funding from a NW account.
At the end of the app. it said it`s being processed and could take up to 7 days.
If I had logged in it would have been done instant but would have been joint.

jimjames

MrsWenger wrote: »

Hi, I have read the whole thread and referred to the Nationwide website; I would appreciate it if someone could assist with my questions please.

We have a joint qualifying current account and I am keen to open two of these new regular saver accounts.

If you only have a joint current account then you may do better than (or as well as) to open new sole accounts using their recommend a friend. That will net you £200 each.

You could then apply for the savers under each sole account.