Nationwide Start To Save Account

RG2015

RetSol said:

ozaz said:

Has this account been discontinued for customers who don't already have the account?

I can't see it in Nationwide's list of existing savings account options:
https://www.nationwide.co.uk/savings/compare-savings-accounts-and-isas/

But I also can't find any news saying it has been discontinued

According to latest RS update on here - https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p374 - it has gone.

Don't know what this means for existing account holders, if true. 

Mine is still there showing interest at 1.00% and I haven't heard anything from Nationwide.

JGB1955

AIUI there is a final draw on 24 January 2022.

Having said that, "Your account has a fixed term of 24 months, beginning on the day you open your account."   Perhaps the 1% interest is the only thing that carries on after 24 Jan?

RG2015

JGB1955 said:

AIUI there is a final draw on 24 January 2022.

Having said that, "Your account has a fixed term of 24 months, beginning on the day you open your account."   Perhaps the 1% interest is the only thing that carries on after 24 Jan?

The term may be fixed but the interest rate isn't.

https://www.nationwide.co.uk/savings/help/terms/start-to-save

See Interest about half way down the page on the link.

wiseonesomeofthetime

Yeah, once the draws have gone, there may be little to encourage people to continue to save with this account when there are regular savers appearing elsewhere (for some) with higher rates.

First Direct are still offering 1% fixed , though, at those rates, they are of little interest to me personally.

I have the 3.50% Skipton one for my RS atm.

Growingold

ozaz said:

Has this account been discontinued for customers who don't already have the account?

I can't see it in Nationwide's list of existing savings account options:
https://www.nationwide.co.uk/savings/compare-savings-accounts-and-isas/

But I also can't find any news saying it has been discontinued

Start to Save

These interest rates started on 18 February 2020

This table shows your interest rate.

Account name	Min amount	Max amount	Withdrawals a year	Interest rate
Start to Save	£0.01+	-	Unlimited	1.00% AER/gross a year (variable) for 24 months

Note: 

This account no longer takes new applications

MDMD

Just stumbled on this, but looks like this account will be relaunched “early in the new year” (presumably after the final draw in Jan)

https://www.nationwidemediacentre.co.uk/news/start-to-save-enters-countdown-to-final-prize-draw

djpailo

MDMD said:

Just stumbled on this, but looks like this account will be relaunched “early in the new year” (presumably after the final draw in Jan)

https://www.nationwidemediacentre.co.uk/news/start-to-save-enters-countdown-to-final-prize-draw

Nice spot. 

diggingdude

Sad to hear Jan is last draw. I only opened March. Not sure it will be worth my running it for a second year

where_are_we

Nationwide will be launching a new Start To Save product in the new year. Hopefully, this will offer better returns. You have to constantly review whether you can do better elsewhere. The old STS has a 24 month term and once the final draw has taken place then weigh up your options and move your money to a better place as there is no withdrawal penalty.

Dandytf

where_are_we said:

Nationwide will be launching a new Start To Save product in the new year. Hopefully, this will offer better returns. You have to constantly review whether you can do better elsewhere. The old STS has a 24 month term and once the final draw has taken place then weigh up your options and move your money to a better place as there is no withdrawal penalty.

I'll be searching for help2save replacement from April, maybe Start to Save becomes an option.

thanks