Nationwide prize draw.

[Deleted User]

where_are_we said:

Farfetch - You are saying you don`t have a Nationwide Flex Regular Saver? This is much better than the Start To Save account. It pays 2% on £200 a month and allows 4 withdrawals a year.

Correct as 2% is still losing you money due to inflation and you need a Nationwide current account for it. I would rather have £50 a month into the NatWest RS (3.04%) and a sum every month into a S&S ISA which actually earns money

That account also only allows 3 withdrawals else you get 0.35% interest

General_Grant

Deleted_User said:

where_are_we said:

Farfetch - You are saying you don`t have a Nationwide Flex Regular Saver? This is much better than the Start To Save account. It pays 2% on £200 a month and allows 4 withdrawals a year.

Correct as 2% is still losing you money due to inflation and you need a Nationwide current account for it. I would rather have £50 a month into the NatWest RS (3.04%) and a sum every month into a S&S ISA which actually earns money

That account also only allows 3 withdrawals else you get 0.35% interest

You are correct - it is only 3 withdrawals, not 4.  I'm afraid I misled where_are_we. (I was too hasty in reading the NWide website where it says "after 4 withdrawals".)  However, the 0.35% only applies after the 4th withdrawal so if a 4th is required, it would be sensible to either reduce the balance to a minimum or close it entirely.

williewonder

When the Start to Save finishes will they close that account and transfer money into a savings account you may hold or turn the Start to Save into a savings account? As this is the last draw this month when will they close the account down?

I'm thinking about opening a Nationwide Flex Regular Saver. I can easily save £200 a month and 2% interest isn't bad. (I already earn around £1.67 a month on my Virgin account with 2% on a £1000)

I already have 3 other savings accounts with NW with £0 balances. Could I even open a Flex Regular Saver?

wiseonesomeofthetime

The Start To Save runs for 24 months from opening, regardless of the draws concluding, unless of course you request its closure. 

General_Grant

williewonder said:

When the Start to Save finishes will they close that account and transfer money into a savings account you may hold or turn the Start to Save into a savings account? As this is the last draw this month when will they close the account down?

I'm thinking about opening a Nationwide Flex Regular Saver. I can easily save £200 a month and 2% interest isn't bad. (I already earn around £1.67 a month on my Virgin account with 2% on a £1000)

I already have 3 other savings accounts with NW with £0 balances. Could I even open a Flex Regular Saver?

You can have a Start to Save and a Flex Regular Saver.  It's not one or the other.

[Deleted User]

General_Grant said:

williewonder said:

When the Start to Save finishes will they close that account and transfer money into a savings account you may hold or turn the Start to Save into a savings account? As this is the last draw this month when will they close the account down?

I'm thinking about opening a Nationwide Flex Regular Saver. I can easily save £200 a month and 2% interest isn't bad. (I already earn around £1.67 a month on my Virgin account with 2% on a £1000)

I already have 3 other savings accounts with NW with £0 balances. Could I even open a Flex Regular Saver?

You can have a Start to Save and a Flex Regular Saver.  It's not one or the other.

I think though, unless you were desperate to put £100 a month into Start to Save at 1% on top of £200 into the Flex saver, it would be a bit pointless, if they aren't doing more draws then Start to Save is only worth keeping to qualify for the monthly draw if you can't get the other saver

LightKnow

Hi all. Quick question 

I noticed there few ish Prize draw scheme by banks 

Am assuming there nothing wrong with open new bank account or savings account just to take part in the prize draws ?

I opened a spend and save account just for it monthly draw 

I see nationwide doing this. I was thinking opening a flex savings or would basic account be eligible for entering monthly draw 

Anyone else doing this ?

[Deleted User]

LightKnow said:

Hi all. Quick question 

I noticed there few ish Prize draw scheme by banks 

Am assuming there nothing wrong with open new bank account or savings account just to take part in the prize draws ?

I opened a spend and save account just for it monthly draw 

I see nationwide doing this. I was thinking opening a flex savings or would basic account be eligible for entering monthly draw 

Anyone else doing this ?

So long as you have a qualifying product, you are included.

You'll be automatically entered if you're:

• A Nationwide member with a mortgage, personal savings or current account with us.
• 18 or over.
• Resident in England, Scotland or Wales.

Lightning360

Anyone win anything in yesterday's start to save prize draw?

williewonder

Lightning360 said:

Anyone win anything in yesterday's start to save prize draw?

No emails off them yet. If this is the case I've had the account nearly 2 years paying £100 in a month and in all that time I didn't win anything.