Nationwide Member Exclusive Bond

allegro120

Rudyson said:

I deliberately transferred the money to my NW Flex account and did an internal transfer, rather than set up a new payee I'd never use again. Bypasses CoP altogether and avoids the need for a test payment 

I do the same. It's easier, quicker and helps to keep payee list tidier.

Sea_Shell

Rudyson said:

I deliberately transferred the money to my NW Flex account and did an internal transfer, rather than set up a new payee I'd never use again. Bypasses CoP altogether and avoids the need for a test payment 

Don't payees get automatically removed after a period of dormancy?    I hadn't paid into my other NW accounts since 2019, so I had to set up a new payee anyway.

(TBH I'd forgotten that I hadn't closed them)

1spiral

Sea_Shell said:

Rudyson said:

I deliberately transferred the money to my NW Flex account and did an internal transfer, rather than set up a new payee I'd never use again. Bypasses CoP altogether and avoids the need for a test payment 

Don't payees get automatically removed after a period of dormancy?    I hadn't paid into my other NW accounts since 2019, so I had to set up a new payee anyway.

(TBH I'd forgotten that I hadn't closed them)

With First Direct it's 12 months. I asked them why they did this and they said if you didn't use the payee in 12 months, they delete it in case any of the details have changed in the interim.

slinger2

Sea_Shell said:

Rudyson said:

I deliberately transferred the money to my NW Flex account and did an internal transfer, rather than set up a new payee I'd never use again. Bypasses CoP altogether and avoids the need for a test payment 

Don't payees get automatically removed after a period of dormancy?    I hadn't paid into my other NW accounts since 2019, so I had to set up a new payee anyway.

(TBH I'd forgotten that I hadn't closed them)

Not sure that Nationwide delete them. I've got some family-related accounts in my list that I've not used for 5 or 10 years.

1spiral

slinger2 said:

Sea_Shell said:

Rudyson said:

I deliberately transferred the money to my NW Flex account and did an internal transfer, rather than set up a new payee I'd never use again. Bypasses CoP altogether and avoids the need for a test payment 

Don't payees get automatically removed after a period of dormancy?    I hadn't paid into my other NW accounts since 2019, so I had to set up a new payee anyway.

(TBH I'd forgotten that I hadn't closed them)

Not sure that Nationwide delete them. I've got some family-related accounts in my list that I've not used for 5 or 10 years.

That's odd, I don't know NW's criteria but when they changed the transfer limits a couple of years back, I stopped using them as my nominated account. None of the savings accounts that I used to pay into back then are on my payee list today and I never deleted any.

AlexMac

slinger2 said:

Worth noting that last year's Member bond wasn't withdrawn until 18 July, so there's probably plenty of time. Of course they might withdraw this one earlier...

...yes; 30th June is your last chance to grab this 18 month 5% Bond (according to the lass I spoke to yesterday in their savings call centre when I rang to check a detail about funding it).

So catch it while you can: I did today!

sheffieldeagle

Hi

I've not had any maturity correspondence for this yet but interest was added when I looked yesterday. Am I free to withdraw now?

Cheers

** Just found tnc's it will mature into an easy access account**

ColdIron

sheffieldeagle said:

Hi

I've not had any maturity correspondence for this yet but interest was added when I looked yesterday. Am I free to withdraw now?

Cheers

No. It's a fixed rate, fixed term 18 month savings account

sheffieldeagle said:

** Just found tnc's it will mature into an easy access account**

Edit: Yes, once it matures after 18 months

It pays interest after 12 months which is retained within the account and again after 6 months when it matures

sheffieldeagle

ColdIron said:

sheffieldeagle said:

Hi

I've not had any maturity correspondence for this yet but interest was added when I looked yesterday. Am I free to withdraw now?

Cheers

No. It's a fixed rate, fixed term 18 month savings account

sheffieldeagle said:

** Just found tnc's it will mature into an easy access account**

Edit: Yes, once it matures after 18 months

It pays interest after 12 months which is retained within the account and again after 6 months when it matures

Sorry I was talking about the previous incarnation. I should have said. It's just maturing.

ColdIron

sheffieldeagle said:

ColdIron said:

sheffieldeagle said:

Hi

I've not had any maturity correspondence for this yet but interest was added when I looked yesterday. Am I free to withdraw now?

Cheers

No. It's a fixed rate, fixed term 18 month savings account

sheffieldeagle said:

** Just found tnc's it will mature into an easy access account**

Edit: Yes, once it matures after 18 months

It pays interest after 12 months which is retained within the account and again after 6 months when it matures

Sorry I was talking about the previous incarnation. I should have said. It's just maturing.

Odd, I have both the 5.00% one and the previous 5.50%. I was an early adopter of both and opened the 5.50% on 24/05/2024 and it's not due to mature until late November 2025