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Am I allowed to open a new Nationwide Flexclusive regular saver?

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Hi,
I had a Nationwide Flexclusive regular saver which very recently matured and is now a Flexclusive Saver Issue 8. Do you know if I am allowed to open a new Flexclusive regular saver immediately to take advantage of the 5% interest rates or do I have to wait a certain period before applying? I have emailed the bank but in meantime wondered if anybody had any advise?

Thanks.
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  • karlie88
    karlie88 Posts: 9,114 Forumite
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    zizu73 wrote: »
    Hi,
    I had a Nationwide Flexclusive regular saver which very recently matured and is now a Flexclusive Saver Issue 8. Do you know if I am allowed to open a new Flexclusive regular saver immediately to take advantage of the 5% interest rates or do I have to wait a certain period before applying? I have emailed the bank but in meantime wondered if anybody had any advise?

    Thanks.

    Try opening one online or via their banking app. You may be pleasantly surprised. ;)
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • RG2015
    RG2015 Posts: 5,921 Forumite
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    Mine doesn't mature until December but the T&Cs state that "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".

    Therefore I see no reason why you should not be successful if you applied for one online or via the app now as suggested by karlie above.
  • zizu73
    zizu73 Posts: 97 Forumite
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    Thanks guys. I thought there might be a cooling off period.
  • itzmee
    itzmee Posts: 401 Forumite
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    I received a letter from Nationwide a month before my Flexclusive Regular Saver account expired, telling me that I could open a new one once it had matured. I wasn't sure but I applied online the day after it expired and got a new regular saver account paying 5% :j
  • clivep
    clivep Posts: 583 Forumite
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    As soon as your Nationwide Flexclusive regular saver matures into a Flexclusive Saver you no longer have a regular saver and therefore are eligible to open another one immediately.
  • Steve_xx
    Steve_xx Posts: 6,976 Forumite
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    I can't remember if one can have the Nationwide Flexclusive Regular Saver @ 5%, plus the Nationwide Regular Saver @2%, simultaneously. Does anyone know if it is posiible to have both?
  • badger09
    badger09 Posts: 11,249 Forumite
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    Steve_xx wrote: »
    I can't remember if one can have the Nationwide Flexclusive Regular Saver @ 5%, plus the Nationwide Regular Saver @2%, simultaneously. Does anyone know if it is posiible to have both?

    I couldn't remember either, so I checked on Nationwide website:cool:


    http://www.nationwide.co.uk/products/savings/flexclusive-regular-saver/features-and-benefits
  • Steve_xx
    Steve_xx Posts: 6,976 Forumite
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    badger09 wrote: »
    I couldn't remember either, so I checked on Nationwide website:cool:


    http://www.nationwide.co.uk/products/savings/flexclusive-regular-saver/features-and-benefits

    Yes, Id read those but wondered if anyone had managed to open the two simultaneously!
  • Imvrasos
    Imvrasos Posts: 81 Forumite
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    I actually opened a 2% regular saver, while its 5% alternative was in its 2nd-3rd month of life. The 2% saver stayed active for about a month but was then closed and the funds were transferred to a normal savings account, including some pennies of accrued interest.
  • BettyBones
    BettyBones Posts: 164 Forumite
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    Yes... same here... my 5% saver matured and they transferred the funds into a new Flexclusive Saver Issue 7. So I opened a 2% regular saver to move these funds to and opened another 5% saver just a couple of days after the original one had matured. Within a couple of weeks of the 5% saver being open they closed my 2% regular saver and put the funds back into the Flexclusive Saver Issue 7. I thought you could have both the 5% and 2% accounts at the same time but clearly not. So I shut the Flexclusive Saver Issue 7 paying 0.75% and opened a Tesc0 Current account paying 3% instead. But that was before Tesc0 decided that new current account openers had to commit to paying £750 in each month and set up 3 direct debits :eek:
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