Nationwide 5% and 2% regular savers - anyone got both?

veryintrigued

Within the T&Cs for both products it states:

Please note: You can only be the first named account holder of one Regular Saver or Flexclusive Regular Saver account at any one time, which can be held in sole or joint names.

Which seems ambiguous to me. Does this mean:

Only allowed one of any of the Regular saver type

or

only allowed one of each type.

Thanks in advance

fun4everyone

I asked the same question as you a while back and got told by a regular poster to "check the t&c". I had already done so and arrived at the same conclusion as you. Sadly this persons knowledge of the situation was not imparted to me so I cannot help much.

I think it is a little ambiguous as well although the use of the word "or" made me tend towards thinking you can only have one regular saver full stop, so I didn't open the 2% one.

The other option that I did not do would be to phone them and ask, but I have been given wrong information many times by customer service so did not bother. I think the t&c are the ultimate and final reference point. It is just a shame they are a little ambiguous like you point out.

veryintrigued

I have an enquiry with them pending but their systems do allow you to have one of each.

However, like you, previous issues with poor advisor info and poor technology mean that neither of these is Gospel!

bigadaj

You can have both, I had two of the older versions and have two of the new ones opened in the last week or so.

The terminology means that if you have a joint account then you can only have one regular saver of each type, whereas if two people have sole accounts they can have one of each, so joint account holders have two regular savers available between two people, the same couple holding sole accounts could have four.

Frufru23

I tried to open a 2% a while back (already had the 5%) - it seemed to go fine and then a month or so later, they closed it and moved the money back to the account that had funded it.

King_Of_Fools

I asked when they launched a year ago and was told I could have the Flex or the standard one but not both.

YorkshireBoy

As a 5% account holder, and whilst logged in, I looked into this a couple of months ago. The 2% account said "you are not eligible for this account", ie there was no option to "find out more" like there was with the other accounts available to me.

On checking again just now, I see the option to "find out more" (and continue to apply) is there. I would have questioned whether the rules have changed, but the wording of the T&Cs is the same...and the way I read that is that it's not allowed.

veryintrigued

A real mixture of thoughts here so far!

Rishified

Same, I asked 2 weeks ago and was told I can have one or the other, but not both

Deneb

Last year we had a joint FRS and attempted to open a sole FRS for Mrs D, who was not the first name account holder on our joint account. Nationwide refused to open the sole account as they said that a person could only have a sole or joint account, not both.
We have recently opened two sole FRS and have again been informed that we are not eligible to have a joint FRS as well.

planteria

good luck vi. i don't know, but two comments: i only want their 5%;). and, as above, i find their CS to be poor, but in fairness they do straighten things out with a taste if they are in the wrong.