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

GazHol

YorkshireBoy wrote: »

I said "generally" as I'm aware of others who have maintained cover despite not funding every month over the year.

So did they immediately resume funding on receipt of the letter, thereby maintaining continuity? Or has there been a period (probably only a month max?) where the insurance was lost?

Either way, you must have taken your eye off the ball, being as you must have been aware of the condition.

The insurance lasts for the calendar year, I *think* that the £750 test is applied in Sep/Oct - Dec for the renewal. (Yes, missed that the £750 can't come from another NW customer). OH had a letter dated early Aug 2015 warning that renewal for 2016 wouldn't take place unless the conditions were met.

savings_my_hobby

colsten wrote: »

You should be able to downgrade your FlexDirect to a FlexAccount, and continue to feed the FlexAccount with at least £750 a month. The funding history from your FlexDirect should count as "deposits in the least 3 months".

Alternatively, get a FlexAccount going straight away.

I wouldn't risk not qualifying as the T&Cs allow them to downgrade your FlexClusive Saver.



http://www.nationwide.co.uk/~/media/MainSite/documents/products/savings/terms-and-conditions/P3026-flexclusive-regular-saver-terms-and-conditions.pdf

I opened a Flex account today before posting

savings_my_hobby

YorkshireBoy wrote: »

In your shoes I'd fund, and continue to fund, the FlexAccount throughout the regular saver term...for the very little effort it takes.

Agreed, it really wont be too much effort and well worth it

dhokes

Wilma33 wrote: »

I sent a secure message about this and have just received a reply. They have said you need to wait 5 working days from the FlexDirect opening date before you can apply for other accounts that require you to hold that account. I need to wait a few more days before I can see if that's right...

I went into a branch today and opened one by completing an application form.

bsms1147

Nationwide have cottoned on to my second 5% regular saver, I'm assuming they've now closed the loophole.

Ed-1

bsms1147 wrote: »

Nationwide have cottoned on to my second 5% regular saver, I'm assuming they've now closed the loophole.

How do you know they cottoned on? Letter? What happened to the account?

bsms1147

Ed-1 wrote: »

How do you know they cottoned on? Letter? What happened to the account?

Logged on to online banking and the saver no longer exists, with the money (plus 5% interest to date) having been transferred into my Nationwide current account. I'm assuming a letter is en route.

Westie983

Mine was closed too,bit was a blip in the system one was opened online and the other via the phone.