Nationwide to axe 5% regular savings account on Friday

masonic

eskbanker wrote: »

Still not sure how to be honest - the first bit relates only to Flexclusive Regular Saver 2 so if anyone has one of those then that could complicate matters, but in the specific context of people holding the 5% Flex Regular Online Savers that this thread is all about then the wording effectively becomes:

you can only be the first named account holder of one Flexclusive Regular Saver 2 or be an account holder of one Flex Regular Online Saver account at any one time, which can be held in either sole or joint names

Yes you are right, I assumed the Flexclusive Regular Saver 2 was the new one and Flex Regular Online Saver was the old one with the £500 per month limit, but it seems it's the other way around.

quirkydeptless

quirkydeptless wrote: »

Closed mine at 18:40 Yesterday, and at 05:30 Today, it is saying my account closure could take up to 48 hours, so cutting it fine, but should be OK for 23:59 Friday, I hope :think:

Got the account closure email at 08:01 this morning, but still can't open a new one



Fingers crossed for tomorrow :undecided

Speculator

quirkydeptless wrote: »

Got the account closure email at 08:01 this morning, but still can't open a new one



Fingers crossed for tomorrow :undecided

Closed ours 2pm on the 3rd and opened new accounts at 2am the following day. (6 hours before we received the account closure emails.)

quirkydeptless

Speculator wrote: »

Closed ours 2pm on the 3rd and opened new accounts at 2am the following day. (6 hours before we received the account closure emails.)

I'm thinking (hoping) it might be some overnight processing thing, since they shut off closures at 8pm and it seems it's cleared either that night, or the next one, hence the 'up to 48 hours'

SuperHans1

It's a shame, you used to be able to pay £500 a month in to this account. This combined with the closure of Nationwide rewards this month, also a reduction in cashback on the Nationwide credit card last year. No incentive to maintain the current account anymore?

Being a fan of regular savers I have 9 more across various institutions - is anyone else like me?

quirkydeptless

Made it!

fun4everyone

SuperHans1 wrote: »

Being a fan of regular savers I have 9 more across various institutions - is anyone else like me?

I have 11 and I consider myself small time compared to some on the regular saver thread :money:.

solartom

https://forums.moneysavingexpert.com/discussion/5889284/how-many-regular-savings-accounts-do-you-have&highlight=regular+savers
have a look at this thread

Elvie100

Thank you for this thread. I was going to leave it as mine was maturing in December but yesterday decided I should do something about it. Closed at 7:45am yesterday and thankfully was able to open my new one this morning.

The funds from the closed one means I don’t need to take any money from my savings to fund my new Virgin Store RS tomorrow.

greendoor665

After closing mine at 7PM on Wednesday and being unable to open one yesterday, today I have been able to open a new one. Phew!