Nationwide to axe 5% regular savings account on Friday

jackieblack

fun4everyone wrote: »

Card readers are annoying

I so agree with this :mad:

schiff

solartom wrote: »

thanks every one for heads up and advice
just cancelled mine going to reopen before 5/4/2019
another good account gone

Don't you mean a good account extended?

solartom

as this is the last time we are able to get this account at this rate (for now?) it is gone
perhaps it is my rather pessimistic outlook on things
but yes you are correct

elantan

trying to figure out of o can squeeze another 250 a month out of my budget

Raging_Bull

This is very disappointing. My saver matures in November, but after that I think I’ll look to take my money elsewhere.

I’m not sure what they’re offering after people have had a year of the Flexdirect account now this is gone. The 1.4% isa for members isn’t the best either.

badger09

elantan wrote: »

trying to figure out of o can squeeze another 250 a month out of my budget

Even if you can't, this is worth having as its really flexible. You don't have to pay in £250 each month, in fact you don't have to pay anything in every month. Its also instant access, so no worries about tying your money up for 12 months.

If you're eligible, go for it. Absolutely nothing to lose:T

Zero_Sum

Mine just matured yesterday. Had to wait a day to open new one, which ive just done

schiff

Raging_Bull wrote: »

This is very disappointing. My saver matures in November, but after that I think I’ll look to take my money elsewhere.

Close it, withdraw your money, start another but make sure you do it no later than April 5, probably ON Friday by now. Then you can search for what is available next April rather than November.

londoninvestor

schiff wrote: »

I find this an interesting and valid view and can understand their action:

"The regular savings account was launched to help members new to saving get into the savings habit. However, the significant majority (86%) are opened by existing savers and, on average, members with the account have around £20,000 saved with Nationwide in other accounts."

I suppose it makes commercial sense for them then

After all, anyone with £20k saved with Nationwide has proved their willingness to accept a highly uncompetitive rate on their savings.

polymaff

Interesting conundrum for those who have held their present account for a few months and opened the account right at the end of a month then paid in on the first of the followings. )