Nationwide Start To Save Account

[Deleted User]

Richchad said:

I have only just heard about this Start to Save account from an email sent by NW.

I have only been a member for about 4 months when i opened their members ISA account plus had to open a saver account also for their £50 bonus.

So am I correct in thinking this is different to their month prize competition for just being a member?

I have just opened two of the Start to Save accounts, one in my name and one in OH name to double chance of any prize winnings.

However trying to set up a S/O from my bank to NW it doesn't recognise my new NW account number, have double check all details and still unrecognised... maybe too soon for systems to recognise my details??

Start to Save has a separate quarterly draw, I believe you are in both that and their general draw if you hold that. The next one is October 2021 but to qualify you need to pay in 3 months of £50 in the months prior, I missed the July one as I opened it in May so only paid in May/June, if I had opened it a couple of days before and had got the payment in April, I would have been in July but such is life. I assume you need to pay in July, August and September to qualify for October and similarly, October, November and December for January

Richchad

Deleted_User said:

I assume you need to pay in July, August and September to qualify for October and similarly, October, November and December for January

Unfortunately as I have only just opened our accounts we have missed the July payment so will miss the October draw and will have to wait for the January one now, but as it is only money from other accounts paying less than 1% nothing lost.

Still can't set up a standing Order to NW, keeps telling me wrong account number?

Will try again tomorrow...

wiseonesomeofthetime

I had same issue as you @Richchad and, indeed, was able to make payments into the account the following working day after opening it.

KeepOnKnitting

I just came to have a look to see if there was anyone who had won, and I haven't been disappointed. Congrats to you all.

Flick85

anxiousnow said:

I realise that 1% is fairly good at the moment and I've had the account just over a year. Just can't work out what the rules are about withdrawing. After a year can I withdraw and start again or do I then lose out on the next prize draw? 

Does anyone know the answer to this? I’ve just opened one of these accounts, and had this exact question. Am assuming the answer is that if you withdraw the full amount you would lose out on entering the next prize draw unless you replace your full withdrawal amount + £50 within the same month. But, I’d appreciate someone confirming my understanding!

wiseonesomeofthetime

That's my understanding too.

"We won’t enter your account into the prize draw if your balance hasn’t gone up by at least £50 or if it’s increased by more than £100, in any of the three Calendar Months leading up to the month of the draw." 

"This means that, if you take money out of your account during a Calendar Month, then you may need to pay some or all of it back in. For example, if your account balance is £100 at the beginning of the Calendar Month and you then take out £50, you’ll need to pay in at least £100 to increase the balance to at least £150 by the end of the Calendar Month."

Source: https://www.nationwide.co.uk/-/assets/nationwidecouk/documents/savings/terms-and-conditions/p3774-start-to-save.pdf?rev=8f92cdc1dd5c408cb815fdd14de67bf8

Flick85

Fab, thanks for the quick reply 😊

ischris85

Ive had this account since Jul 20 and I've never won a prize draw

plantsman57

Have just received in 'snail' mail a letter stating that the latest prize draw took place on 21 October, ie today, and that I had not on this occasion won! Anyone else experienced this notification?

RG2015

I got this by email on 21st July, the date of the previous draw.

We just wanted to let you know that the Start to Save draw took place on 21 July 2021. You haven’t won this time – but you’re still heading in the right direction. That’s because by tucking away enough money each month to qualify for the draw, your savings pot has been given a healthy boost.

However, I have not received anything today, as yet.

Edit. Just received my email. I have not won.