Nationwide InvestDirect post-paid envelopes

Badger51

I have held an NW InvestDirect account for many years because, being a free postal account, it provides a convenient way to deal with any cheques I receive. Until recently, whenever I sent in  cheques, NW would send a statement with a new paying-in slip pre-printed with my account details, and enclosing a replacement post-paid envelope for the next time. For the last two or three times they have not done this and I have had to proactively order stationery packs in order to obtain envelopes and paying-in slips. Has this happened to other InvestDirect account holders? (I have checked and have not inadvertently opted to go paperless).

GrumpyDil

Unless that has a particular good interest rate would it be easier to use an account where you can pay money in via a banking app or direct transfer? 

Badger51

Possibly, but I'm a bit too set in my ways 

droopsnoot

It's such a long time since I paid anything into mine that I can't say whether mine have stopped. I used it for the same as you - any time a cheque turned up, it'd go in there because the return was better at the time.

Section62

Badger51 said:

I have held an NW InvestDirect account for many years because, being a free postal account, it provides a convenient way to deal with any cheques I receive. Until recently, whenever I sent in  cheques, NW would send a statement with a new paying-in slip pre-printed with my account details, and enclosing a replacement post-paid envelope for the next time. For the last two or three times they have not done this and I have had to proactively order stationery packs in order to obtain envelopes and paying-in slips. Has this happened to other InvestDirect account holders? (I have checked and have not inadvertently opted to go paperless).

Yes, no envelopes coming out automatically, but still available if a stationery pack is requested.  Irritating that the specific items wanted each time can't be ordered - every time I need envelopes they also send a sheet of withdrawal request forms, that I've never used and never will.

Badger51

Thank you Section62, I suspected that was the case. I'm surprised the account is still available. I think it probably attracted a lot of customers to Nationwide when the National Girobank stopped offering free postage. That's certainly why I opened the account. The interest is ridiculously low but I only use it as a collection account for Premium Bond prize warrants (I know there is a option for PB prizes to be paid straight into my bank account, but I just prefer to get them through the post). 

Section62

Badger51 said:

Thank you Section62, I suspected that was the case. I'm surprised the account is still available. I think it probably attracted a lot of customers to Nationwide when the National Girobank stopped offering free postage. That's certainly why I opened the account. The interest is ridiculously low but I only use it as a collection account for Premium Bond prize warrants (I know there is a option for PB prizes to be paid straight into my bank account, but I just prefer to get them through the post). 

For several years I've been expecting a letter from NW saying they are closing the accounts down.  In about 2018 I came very close to closing mine, but decided it might be useful one day (and is also my 'oldest' account).  It came into it's own during covid lockdown when cheques from maturing BS accounts could be paid in without needing to go down the app route with a different bank.

HHUK

Received a letter today advising changes to be made to the InvestDirect account from 8 February 2025, one of which is that the postal service will no longer be available.