Regular Savings Accounts: The Best Currently Available List!

RG2015

Thomas_Crown said:

Section62 said: 

Email from Nationwide - the rate on the Flex Regular Saver is being increased from 2% to 2.5% from 1st February (this does apply to accounts already opened and funded)

Edit: Link to notice

https://www.nationwide.co.uk/-/assets/nationwidecouk/documents/savings/branch-notices/smd363-base-rate-branch-and-online-notice.pdf

I opened my Flex Regular Saver in November 2021 and have funded it with the max £200 per month. The interest rate has gone up from 2.00% to 2.50%. That appears to be contrary to the email.

This all looks fine and the email is consistent with the notice, so I am not sure what you are saying is contrary.

My Nationwide account online is also showing the rate as 2.50%

Thomas_Crown

It was the words ''(this does apply to accounts that are already open and funded)'' that I was referring to. My account was already open and funded but the interest rate has gone up. By using those words, Nationwide are effectively saying that the 2.5% interest rate, only applies to new accounts and not existing accounts.

eskbanker

Thomas_Crown said:

It was the words ''(this does apply to accounts that are already open and funded)'' that I was referring to. My account was already open and funded but the interest rate has gone up. By using those words, Nationwide are effectively saying that the 2.5% interest rate, only applies to new accounts and not existing accounts.

Are you reading a 'not' that isn't there perhaps?  Those words clearly say that it applies to existing accounts!

dcs34

Thomas_Crown said:

It was the words ''(this does apply to accounts that are already open and funded)'' that I was referring to. My account was already open and funded but the interest rate has gone up. By using those words, Nationwide are effectively saying that the 2.5% interest rate, only applies to new accounts and not existing accounts.

They are saying the rate increase does apply to existing accounts, not just new ones. There is no 'not' in that statement.

So which part of the email is incorrect?

veryintrigued

Here we go again....

Thomas_Crown

eskbanker said:

Are you reading a 'not' that isn't there perhaps?  Those words clearly say that it applies to existing accounts!

Yes, your assumption is correct, I was reading a word that isn't there. That will teach me to wear my reading glasses when reading text. Thanks to eskbanker and dcs34 for pointing out my error.

kaMelo

soulsaver said:

Has anybody opened a First Home Steps with Principality that is a previous declared home owner on an existing account? PM welcome if  preferred.

Missed this question originally.  
You do get asked this before you apply for the online version;



I have no idea what steps they take, if any, to confirm this declaration is true. 

Also noted @Special_Saver2 comments about the 0.15% increase in interest rates applying to previously opened version 1&2 accounts only,  not to newly opened version 3 accounts.  Rather sneaky if I may say.

typistretired

Financial experts are advising against fixed saving accounts as they believe the Bank of England rate will go up several times this year

liamcov

My Halifax Reg has recently matured and I've cleared it out, but it's still showing as 'Regular Saver' with rate of 0.75% - I didn't think they normally rolled over into a new year like Santander, how should I close in the hope they offer a better rate in the future?

Daliah

typistretired said:

Financial experts are advising against fixed saving accounts as they believe the Bank of England rate will go up several times this year

There's no real reason for delaying the opening of a fixed rate RS if the rate appeals to you now. As and if something better becomes available, you can just reduce your monthly deposits into the less attractive account. In many cases you can reduce it to £0; minimum monthly deposits are rare, and the max I have seen are £25.