Nationwide MySave

Eco_Miser

JustAnotherSaver wrote: »

I had. My wife & I have a regular saver opened with Nationwide each so each month they were going to swallow £1,000 compared to £600 with FD. Soon adds up & unfortunately was too much for us right now. Thanks though.

No need to put in the full amount every month with Nationwide.

JustAnotherSaver wrote: »

I've sent a message to Nationwide asking what the penalty is for me to close my account early (the regular saver). I'll see what they say. There's currently £3,000 sat across two accounts (£1,500 each). If there's a fair penalty then i'll just let it sit there for the next 9 months while the rest goes to First Direct.

No need to close them: they're instant access, minimum payment £25 (and if that's too much you can move it back to the FlexDirect), and pay 5% so a good place to stash cash even temporarily.

JustAnotherSaver

TheShape wrote: »

The Flexclusive Regular Saver is an instant access account with no penalty for withdrawal.

See term #15

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

Yeah i saw that but i didn't know whether they'd classify it as closing or withdrawing, depends how much someone wants to get hung up over terminology & when it means charging the little man these companies usually like to get very hung up

So if i put £1500 in and take £1500 out i've just 'withdrawn' it so no penalty, right?
But if there's some T&C in invisible ink in the middle of the booklet that you need to put a match under the paper to which says if you take it down to £0 after crediting & that's considered a 'closure' & therefore a penalty is charged.......


In short i just want to cover myself.

TheShape

From the t&cs

#7. The minimum balance in the account is £1.

If you make a withdrawal taking the balance below £1 I think the system either won't let you or will prompt you to close the account.

The penalty for closing the Flexclusive Regular Saver will be that you are unable to open a new one until 1 year after you opened the previous one.

Just ensure that any withdrawal doesn't take the balance below £1.

JustAnotherSaver

Hmm YorkshireBoy's post is magic.
One minute it's there, the next, !!!!!!, gone.

YorkshireBoy

JustAnotherSaver wrote: »

Hmm YorkshireBoy's post is magic.
One minute it's there, the next, !!!!!!, gone.

Can't believe I missed condition 7. Apologies for misleading you.

JustAnotherSaver

YorkshireBoy wrote: »

Can't believe I missed condition 7. Apologies for misleading you.

It's ok.

Nice to see you're human too :rotfl: