Regular Savings Accounts: The Best Currently Available List!

colsten

10_66 wrote: »

Thanks colsten, yes, I've tried several times online and all I get is a message apologising and saying that I have to have paid £750 into my account (no term mentioned). I'd spoken to someone yesterday and asked for it to be escalated as a complaint, hence the call today. I agree that I can't see them changing their terms and conditions, probably just said that to make me think they're going to do something about it. She said she wouldn't like to think anyone else would fall foul with the same problem. Nice to know they care

WOW, so it seems they HAVE changed their systems (how petty can they get) but not their T&Cs. It seems their IT tail is wagging their Business dog on this one.

You could take them to the ASA, I suppose, for false advertising. Whether you do that or not, you definitely have a couple of other options to get at the FlexClusive RS:

1. pay £750 a month into the FlexAccount for the next 3 months; pay in on day X, take it out on X+1. From what you say, you'd have to wait for 3 months before they allow you to open the FlexClusive RS.
2. FlexAccount as above, and also open a FlexDirect at the same time, to allow you instant access to the FlexClusive RS. Don't bother using the FlexDirect much, and close it as soon as you have clocked up 3 "real" months (with in=X and out =X+1) in the FlexAccount. Keep the FlexAccount going into the future.
3. write a friendly letter to their Chief Exec (he'll understand, as their per "Nationwide, on your side" slogan)
4. complain to the FOS unless you have already accepted their 'compensation'

I'd probably go for the 2nd option myself, though it depends how far you are from qualifying for a 5% FlexDirect.

bristolleedsfan wrote: »

500.00 ....

yes, apologies, £500

colsten

Careful_ly wrote: »

Somewhere in the back of my mind I have a feeling that if you wait till after the three months that you have funded the account, that is wait until June, that the computer will then say yes.

You may well be right there, Careful_ly, I dimly remember similar from years ago about the travel insurance now that you mention it. That's an additional option for 10_66, to try again on June 1.

Jsscmm

If you did open a flex direct, you could keep say 2.5k in it, bounce say 750 a month through it and get some more interest that way. Option two with extra cash.

Obviously also get some RAF and quidco cash at the same time. Extra, extra cash.

colsten

Jsscmm wrote: »

If you did open a flex direct, you could keep say 2.5k in it, bounce say 750 a month through it and get some more interest that way. Option two with extra cash.

No.

To get any interest in a FlexDirect, you must pay (/bounce through it) at least £1,000 a month.

That money must also come from a non-Nationwide account, according to today's Nationwide T&Cs.

10_66

Careful_ly wrote: »

Somewhere in the back of my mind I have a feeling that if you wait till after the three months that you have funded the account, that is wait until June, that the computer will then say yes....

colsten wrote: »

You may well be right there, Careful_ly, I dimly remember similar from years ago about the travel insurance now that you mention it. That's an additional option for 10_66, to try again on June 1.

Thank you both, I'll try again in June. I did mention this to the CS person when I spoke to her earlier yesterday afternoon and she said it still wouldn't work because (she said) their system works on the basis of the overnight balance and so it wouldn't recognise the payment (crikey!). Nevertheless, I'll still try again in June because, as you say colsten, what they say and what is permitted are not always the same. If successful I'll post back on here.

veryintrigued

colsten wrote: »

I can't believe that they would really change their T&Cs, and their systems, to force people to keep £750 in a current account for at least one night / 24 hours or whatever time period.

Agreed.

I'd be veryintrigued to see what they think they mean by 'overnight'.

Stating this unambiguously in T&Cs and software might be 'interesting' for them. e.g. does holding £750 in the account from 23:59hrs - 00:01hrs constitute 'overnight'?

Nick_C

Very odd, because I'm sure some people who use it as their main account have DDs coming out the same day as their income goes in, and drop below the £750.

Moby

I have the 123 account and just want to confirm that the 123 account is considered a current account thereby qualifying you to apply for the regular E Saver from Santander............is that right?

Stompa

Moby wrote: »

I have the 123 account and just want to confirm that the 123 account is considered a current account thereby qualifying you to apply for the regular E Saver from Santander............is that right?

Yes, it is.

zolablue25

Careful_ly wrote: »

Somewhere in the back of my mind I have a feeling that if you wait till after the three months that you have funded the account, that is wait until June, that the computer will then say yes.


I am remembering back to the need to fund for three months to get the free travel insurance with the flex account and I am sure that was triggered after 3 full months had passed of funding.


HTH

This is what happened to me when I tried a couple of months back. Couldn't open online so phoned up. The guy said something about 3 full months and to try again then. So a couple of weeks later I tried online again and it worked fine.