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

karlie88

LplateSaver wrote: »

I've just opened it, and moved £500 to it but it doesn't show in my list of accounts, anyone else having that problem?

The account doesn't show up immediately. Check tomorrow.

bowlhead99

LplateSaver wrote: »

I've just opened it, and moved £500 to it but it doesn't show in my list of accounts, anyone else having that problem?

After opening it, it specifically said the account would be available to use normally within two days but was open and would earn interest from today. An account number was given, which I didn't bother to write down because I don't care.

I haven't felt the need to look for it in my list of accounts as I already put my £500 into it for this month

Futuristic

Just switched nationwide to halifax as my 5% ended, should have stayed!

Any other way to get this?

Also unlimited withdrawals on the account is pretty hot.

bowlhead99

colsten wrote: »

Kendall80 wrote: »

my post was not to confuse but to clarify for those that may be less 'clued up' than your good self.

I am afraid, the one not clued up is yourself.

The AER of this account is 5%, not some other number that you pulled out of thin air.

As JJ said, you will of course only get the interest on money that is in the account.

Exactly. You are saying 'annual equivalent' when you do NOT mean the equivalent amount that would be earned if you were able to keep the money in the account for an annum (which would be 5% gross).

Per annum, the £6000 will earn however much it earns while it is in this account for part of the year, plus however much it earns while it is in other current accounts, savings accounts, or regular savings accounts over the course of the year. Depending where you bank, your acheivable blended average rate on the £6k might be below 5% but likely to be considerably higher than 2% while using the account unless you are a 60% taxpayer or the money is just sitting in your piggy bank earning 0% while waiting for the 1st of every month to come around.

Pincher

https://forums.moneysavingexpert.com/discussion/5351741


I only mentioned I wanted to do a Nationwide Regular Saver four weeks ago!


I came out of my five year fixed rate mortgage in October 2008, and Mervyn King dropped the interest rate for me, and Mark Carney has been keeping it low for me ever since.


Now I only have to mention it, and Nationwide brings out a juicy Regular Saver.


I feel so loved.

bsms1147

stringer_bell wrote: »

Can i have this and also the 2 percent regular saver?

You can. The 2% saver should be quite far down in your list of things to get though.

Pincher

I am already over £1,000 interest, what with Santander 123, Tesco 3%, TSB 5%, and some Regular Savers.


What I really want is TSB style 5% cashback, which is not taxable.


What if they bring out a FlexDirect X, where you get a Debit card, and you MUST keep £2,000 minimum, on which you get NO interest, but you get 5% cashback on spending up to £200 (so £10 cashback max) per month!

redux

Pincher wrote: »

https://forums.moneysavingexpert.com/discussion/5351741


I only mentioned I wanted to do a Nationwide Regular Saver four weeks ago!


I came out of my five year fixed rate mortgage in October 2008, and Mervyn King dropped the interest rate for me, and Mark Carney has been keeping it low for me ever since.


Now I only have to mention it, and Nationwide brings out a juicy Regular Saver.


I feel so loved.

Can I please join your coven?

Kendall80

colsten wrote: »

I am afraid, the one not clued up is yourself.

The AER of this account is 5%, not some other number that you pulled out of thin air.

As JJ said, you will of course only get the interest on money that is in the account.

The number I calculated was not pulled out of thin air as you well know.


The reason I alluded to the total after 12 months as a % of that put in is to pre-empt the often put question we have on here regarding regular savings accounts. That question being, "How come I only got 'this much' after the 12 month period not the 5% advertised?


Of course you only get interest on that which is in the account but clearly some people do not realise this or we would not get such comments/questions would we?


The fact that i've had to explain what I originally meant may well mean I should've been clearer. A criticism i'm prepared to accept however well intentioned my initial post was.

bart999

bsms1147 wrote: »

You can. The 2% saver should be quite far down in your list of things to get though.

From the T & C - You can hold only one Regular Saver or Flexclusive Regular Saver account, so it would appear not???