What should I do with inheritance?

[Deleted User]

Can anyone help me here please.

I have opened a Flexclusive Regular Saver and only activated it about a month later.

I paid £500 in today the 2nd march.

It states £500 a month must be paid in to abide.

So do I pay £500 in on the 2nd of every month to abide?

What if i pay it on the 5th march for instance?

Does this mean interest earned will be held back?

Can anyone help please?

Chris

badger09

Deleted_User wrote: »

Can anyone help me here please.

I have opened a Flexclusive Regular Saver and only activated it about a month later.

I paid £500 in today the 2nd march.

It states £500 a month must be paid in to abide.

So do I pay £500 in on the 2nd of every month to abide?

What if i pay it on the 5th march for instance?

Does this mean interest earned will be held back?

Can anyone help please?

Chris

Where does it say that?

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

You can pay in UP TO £500 pm. It doesn't matter what date, and you can pay in say £100 x 5 if you wish.

The earliest you can pay in your next £1 - £500 is 1st April. If you pay any more in in March, the excess will be rejected.

Its all set out very clearly in the T&Cs:cool:

Bazofts_Revenge

Don't the banks you set up the Regular Savings account move the money automatically each month or do you have to do it yourself?

george4064

Bazofts_Revenge wrote: »

Don't the banks you set up the Regular Savings account move the money automatically each month or do you have to do it yourself?

Nope, you have to arrange this yourself either via a standing order or manually transfer the money across yourself.

Bazofts_Revenge

Cheers George, my bank does a sweep so anything over a set amount each month goes into savings. I wonder if the sweep will automatically put money into the regular saver if I open it up?

Bazofts_Revenge

Can I put in £3325 then do 11 payments of £25 to get to the maximum of £3600 or can I only put in the max of x number of months x £300.

i.e month 1 max £300, Month 2 max £600, Month 3 Max £900 etc.

bigadaj

Bazofts_Revenge wrote: »

Can I put in £3325 then do 11 payments of £25 to get to the maximum of £3600 or can I only put in the max of x number of months x £300.

i.e month 1 max £300, Month 2 max £600, Month 3 Max £900 etc.

The latter.

jimjames

Bazofts_Revenge wrote: »

Can I put in £3325 then do 11 payments of £25 to get to the maximum of £3600 or can I only put in the max of x number of months x £300.

i.e month 1 max £300, Month 2 max £600, Month 3 Max £900 etc.

Depends what the T&Cs say so best to check. Nationwide it's £500 max per month

McKneff

PeacefulWaters wrote: »

Drink, women and fast cars.

Not necessarily in that order.

And just squander the rest

badger09

Bazofts_Revenge wrote: »

Don't the banks you set up the Regular Savings account move the money automatically each month or do you have to do it yourself?

It depends on the T&Cs

george4064 wrote: »

Nope, you have to arrange this yourself either via a standing order or manually transfer the money across yourself.

Some banks do set up the SO for you. Right now I can't remember which, but I have some of them:o