Nationwide Flex Direct (After 12 months)

GTR_King

Yourshire boy thanks for that advice it really helped will certainly look into doing that

Dovestones

Was in similar position as OP in November. Had Flex Direct and the 5% for 12 mths until 17th, closed Flex Direct and opened ordinary Flex current account on same day. After paying in £750 in on November, December and January 17th's I was able to open a Regular Saver 5% account today so elapsed time only 2 months and 2 days!
When the 12 mths between Direct accounts has passed will open one of those again.

GTR_King

Thanks so Basically I could open Flexclusive saver (August) then downgrade flex direct account to flex account (October) & Use the flex direct/TSB Saver money to fund the flexclusive saver for a year... then go from there

MARTYM8`

Other option is to switch to a flexplus account.

That is a packaged account costing £10 a month but you get 3% on the first £2,500 balance which pays half the monthly fee and it offers free overseas cash withdrawals, breakdown cover, worldwide family travel insurance, mobile phone cover and free extended warranties on any goods bought from £50 to £2000 including laptops and tablets. No minimum monthly pay in requirement either.

It saves me money just on breakdown cover alone.

colsten

GTR_King wrote: »

Thanks so Basically I could open Flexclusive saver (August) then downgrade flex direct account to flex account (October) & Use the [STRIKE]flex direct[/STRIKE]FlexAccount/TSB Saver money to fund the flexclusive saver for a year... then go from there

TSB Saver is 5%, and so is the FlexClusive RS. What would be the purpose of shifting money from one 5% account to another?

A FlexAccount needs £750 a month deposit if you don't have a FlexDirect or FlexPlus and want to maintain your eligibility for the FlexClusive RS. This should not be an issue if you have money to save.

GTR_King

colsten: My TSB Saver runs out in September so wanna use that money to earn 5% again with flex elusive saver for another 12 months

MARTYM8: That is an idea but would only use account to fund Flexclusive saver...

YorkshireBoy

GTR_King wrote: »

colsten: My TSB Saver runs out in September so wanna use that money to earn 5% again with flex elusive saver for another 12 months

It might just be "elusive" if you wait until August/September to apply for it. Do you think it will still be around then?...and if it is, will it have the same T&Cs?

And if you get it in September, it's going to take you until next March to get all the TSB regular saver cash in it.

You need a plan B!

GTR_King

YorkshireBoy Yeah I do need a plan B will think about it

Dunno what it will be

Eco_Miser

So, you will need somewhere to put the accumulated Regular Savings, until you can recycle them again.
Have you looked a Lloyds 4% offerings?
Here's all the places you can get reasonable interest:
https://forums.moneysavingexpert.com/discussion/5374614

colsten

GTR_King wrote: »

colsten: My TSB Saver runs out in September so wanna use that money to earn 5% again with flex elusive saver for another 12 months

You can just open another TSB Saver if you wish. Although the FlexClusive RS would obviously swallow your money twice as fast as the TSB Saver.