Nationwide Flex Regular Saver 13th payment

Zanderman

TheShape wrote: »

Why not? Where is the cut-off point? 4 days not worth it but 5 days is?

As it's a SO going to the account it will require zero effort.

I'd personally take the time to do a manual transfer as it would take me all of 20 seconds to do so in the Nationwide app even 1 day before maturity:money:

I wasn't criticising!

littlemissbossy

Does anyone know what the Flexclusive Regular Saver will revert to when it ends (2nd Dec for me), I don't think I've had a letter?? but I will have a double check.

TheShape

Zanderman wrote: »

I wasn't criticising!

My post didn't come across as it was supposed to

TheShape

littlemissbossy wrote: »

Does anyone know what the Flexclusive Regular Saver will revert to when it ends (2nd Dec for me), I don't think I've had a letter?? but I will have a double check.

From the t&cs

6. The term of the account is fixed for 12 months from the date of opening. After that fixed period, your funds will be transferred into a Flexclusive Saver account, or if not available the nearest equivalent instant access savings account. The terms and conditions and the interest rate applicable to that account, at that time, will apply.

ceredigion

Zanderman wrote: »

So your final payment will be in the account for just 4 days before maturity? That is eeking out every penny!

It's not just the last 4 days though is it. Each payment has been 4 days early so up by 48 days.

Zanderman

ceredigion wrote: »

It's not just the last 4 days though is it. Each payment has been 4 days early so up by 48 days.

Er, yes, but the 13th payment is only getting interest for 4 days. The earlier payments may have gained (and the strategy to pay in on the 1st of the month is obviously worth doing) but that strategy and gain is not linked to or dependent on the limited gain from the 13th, which is optional and gains v little.

verybigchris

It'll only be worth about £2 to me (£500 for 28 days @ 5% pa) but in the current climate it'll be nice to have somewhere to stick another £500, even if only for a month.

Kim_13 wrote: »

The account launched in December 2015, so there won't be any experience of whether this works or not for another month or so.

Thank you, I was wondering why it hadn't come up in a forum search!

Vortigern

Maturity letter received today. Mine matures 1st December, so no 13th payment possible, but I can start a new RS

http://forums.moneysavingexpert.com/showpost.php?p=71542441&postcount=4574

Terry98

Vortigern wrote: »

Maturity letter received today. Mine matures 1st December, so no 13th payment possible, but I can start a new RS

http://forums.moneysavingexpert.com/showpost.php?p=71542441&postcount=4574

Yes I am surprised you are able to open another 5% account. I thought you were only allowed one.

King_Of_Fools

Terry98 wrote: »

Yes I am surprised you are able to open another 5% account. I thought you were only allowed one.

One at a time.