Nationwide savings account

Zero_Sum

oscarward wrote: »

Yes you could do that, but is it worth the hassle for £80 ish per year?

£10 a month for clicking a few buttons. You must be loaded if you think that isnt worth it.

binaryuniverse

oscarward wrote: »

Yes you could do that, but is it worth the hassle for £80 ish per year?

I think you might be on the wrong forum.

VDOT47

Definitely works - although as someone says above, you need to do the transfer from a non-Nationwide account (despite the small print not mentioning this when the accounts were opened) so if you open one each for you and spouse then you need to send the money to one account then back to a non-Nationwide account before transferring back to the second account.


£20 pcm across two accounts for 10 minutes logging in and out of accounts seems like it is worth it to me! And access to regular savers at 5% too.


When the first year expires though the interest rate reverts to a basic rate and I'm not sure yet if there is a way to open new 5% current accounts with Nationwide, or if it is a one-hit thing which you can only do for one year?

eskbanker

VDOT47 wrote: »

When the first year expires though the interest rate reverts to a basic rate and I'm not sure yet if there is a way to open new 5% current accounts with Nationwide, or if it is a one-hit thing which you can only do for one year?

The latter, as per https://www.nationwide.co.uk/products/current-accounts/flexdirect/rates-fees-overdrafts:

If you have previously held a FlexDirect account you will not be entitled to the introductory rate or offer under a new agreement and therefore you will receive the standard 1% gross p.a/ AER (variable) interest rate.

YorkshireBoy

VDOT47 wrote: »

although as someone says above, you need to do the transfer from a non-Nationwide account (despite the small print not mentioning this when the accounts were opened)

It's been included in the account T&Cs since the account was (re)launched with 5% AER many years ago.

When the first year expires though the interest rate reverts to a basic rate and I'm not sure yet if there is a way to open new 5% current accounts with Nationwide, or if it is a one-hit thing which you can only do for one year?

Again, it's been included for in the account T&Cs as shown above.

Do you see a pattern developing here? Time to start reading the information you're ticking the box to say you've read (and understood).

VDOT47

Fair points!

PRAISETHESUN

I've just automated this with standing orders between two of my accounts. The money pays into Nationwide from an external and then immediately is payed out to another account - no need to log in every month

unkster

Hi i've had the flex direct account for a few years now, just kept it open after the first year with a couple of quid in there so i could carry on with the 5% regular saver. I'm now looking to open up a joint one, does anyone know if i could get a 2nd regular saver with this joint account?

soulsaver

unkster wrote: »

Hi i've had the flex direct account for a few years now, just kept it open after the first year with a couple of quid in there so i could carry on with the 5% regular saver. I'm now looking to open up a joint one, does anyone know if i could get a 2nd regular saver with this joint account?

You (singular) can't have two RSs but you(plural) can have one each.

unkster

soulsaver wrote: »

You (singular) can't have two RSs but you(plural) can have one each.

ok let me rephrase that, would we be able to have a joint linked regular saver, or would we be excluded because i had my own one? Thanks.