The Top Easy Access Savings Discussion Area

eskbanker

50Twuncle wrote: »

Why is no mention made of Nationwides Flexclusive regular saver account ?

Because the thread relates specifically to MSE's article on instant access savings accounts.

There is a separate MSE article about regular saver accounts and in turn an 'official' MSE-initiated discussion thread on that, plus a separate one frequently maintained by a forum regular, Special_Saver2.

polymaff

50Twuncle wrote: »

Why is no mention made of Nationwides Flexclusive regular saver account ?
If you have a flex account - you can earn 5% on up to £6k - putting in £500 per month for 12 months

eskbanker wrote: »

Because the thread relates specifically to MSE's article on instant access savings accounts.

There is a separate MSE article about regular saver accounts and in turn an 'official' MSE-initiated discussion thread on that, plus a separate one frequently maintained by a forum regular, Special_Saver2.

Which is why recent posts have been about switching bank accounts?

Let's show some tolerance. At least the Nationwide consider this account to be "our Flexclusive Regular Saver offers our highest instant access savings rate"

eskbanker

polymaff wrote: »

Which is why recent posts have been about switching bank accounts?

Let's show some tolerance. At least the Nationwide consider this account to be "our Flexclusive Regular Saver offers our highest instant access savings rate"

Yes, it's undoubtedly true that this thread, as with some other long-running ones, has sometimes diverged off topic, but I was answering the question of why something wasn't mentioned and pointing the poster to the more obvious places to compare regular savers.

And yes, strictly speaking, it's an instant access product, but the same could doubtless be said of other regular savers, and the differentiation between instant access accounts accepting lump sums and those constrained to capped monthly contributions seems valid to me when it comes to publishing and discussing information on here, and hence the two separate articles and associated threads.

Anyway, no intolerance intended, just constructive advice about where best to go!

schiff

polymaff wrote: »

So the term "main current account" is "quite clear"?

I'd guess that a lot of MSEers have turned a blind eye to that requirement.

What if the account you are transferring has the weekly NIRP coming in, but you have another, and larger, earnings/pension source which they won't know about (as it goes to a different account).

Any certainty that it would pass muster? Thoughts?

polymaff

schiff wrote: »

What if the account you are transferring has the weekly NIRP coming in, but you have another, and larger, earnings/pension source which they won't know about (as it goes to a different account).

Any certainty that it would pass muster? Thoughts?

Quite. The situation is as clear as mud.

50Twuncle

polymaff wrote: »

Which is why recent posts have been about switching bank accounts?

Let's show some tolerance. At least the Nationwide consider this account to be "our Flexclusive Regular Saver offers our highest instant access savings rate"

IT IS INSTANT ACCESS - Just via a pre-existing Flex Account .
And there is no compulsion to pay anything in every month - just a maximum amount.....

adindas

Nottinghma BS has eSaver i6 with interest of 1.02%pa instant access, unlimited withdrawals, for the balance of £1,000 - £250,000 (e.g minimum operating balance of £1000)

https://www.thenottingham.com/savings/products/esaver-istant-issue-6/

Due to its T&C, This account is very good as a temporary saving if you have maxed out all better High Interest Current Account and you have a RSA saving maturing and or windfall which need temporary place while waiting to be allocated to a better interest.

I wonder those who have tried them or have any link about this info or knowledge of it :
- How good their FPI and FPO is e.g. is it instant like any other high street banks ??
- Are they processing FPI/FPO, SO/DD during the weekend/bank holidays or they are waiting until the next working days ??

Thanks

schiff

Is this the answer?

3. Opening an account

3.1 Our eSavings service is available for use in the UK only. You must be at least 16 years old
and a UK resident to open an account.

3.2 All transactions into and out of your eSavings account must be via a UK bank or building
society account nominated by you.

3.3 Your nominated account must accept direct credits and you must be able to make one-off
electronic payments to your eSavings account. From 1 January 2012 your nominated account
must be able to receive payments via the Faster Payments Services (FPS) scheme. You are
responsible for ensuring that the account complies with this condition.
3.4 You can only open an account in up to two names.
3.5 If you are opening a sole account, the nominated account must be in your name.
3.6 If you are opening an account in joint names, the nominated account must be in the same
joint names.

3.7 You can only have an account for personal use. You must not use your account as a sole
trader, company, partnership or any other kind of business account or as a club, charity or trust
account.

ctdctd

RCI are also 1.02% as well now.
https://www.rcibank.co.uk/savings/freedom

No FSCS compensation - they use the French equivalent.

Faster payments out are next working day,

schiff

adindas wrote: »

Nottingham BS has eSaver i6 with interest of 1.02%pa instant access, unlimited withdrawals, for the balance of £1,000 - £250,000 (e.g minimum operating balance of £1000)

Due to its T&C, this account is very good as a temporary saving if you have maxed out all better High Interest Current Account and you have a RSA saving maturing and or windfall which needs a temporary place while waiting to be allocated to a better interest.

It is ideal for just that purpose TY.

You have a 7-figure user ID to commit to memory, a password (which you can choose), a security code which you choose and commit to memory and something called a code card (this comes by post).

Opening these accounts at the rate of one or two a month requires a prodigious memory