The Top Regular Savers Discussion Thread

masonic

https://forums.moneysavingexpert.com/discussion/comment/82154310#Comment_82154310

Suggests the closure didn't actually happen on the 28th.

"ChatGPT also confirms this to be the case."

That makes it even less likely to be correct. As evidenced by the two posts above. Would be keen to know what it says if you paste in @thefrank 's post. I suspect it will acquiesce and agree.

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82154310#Comment_82154310

When on 28th though? If it was very late in the day it might've been processed the following day, thus being able to reapply from 30th would make sense, although that's not the same as a blanket "Nationwide block any attempt to open another RS until a day after your last RS was due to expire."

I would also be cautious of taking what Chat GPT says as gospel given that this is the same Chat GPT that once advised that I should close all my building society accounts that I have open with £1 (had I taken that advice I wouldn't have subsequently qualified for a string of loyalty RSs).

Chat GPT also told me that RSs only pay half the headline rate of interest, so I would be better off closing my 7% RS and putting the money in a 4% RS instead.

Kim_13

I asked for closure of the Melton IA in the end. It took longer than the 2 hours posted upthread, but I needed the funds tomorrow and didn’t want to risk them disabling the closure option and then taking several weeks over the interest as Darlington did. Funds now received, which surprised me with it being after 5pm. Would be happy for them to pay the remainder of the interest into my nominated account or either of my two remaining Melton accounts. I hadn’t submitted maturity instructions and would not have done so if I had.

2.75% Nationwide EA (internal transfer from nominated account) overnight is better than the 1% Melton would have been paying.

masonic

https://forums.moneysavingexpert.com/discussion/comment/82153969#Comment_82153969

I'd given up on Melton for today, but the proceeds of my account closure have just landed in my bank account, just in time to get them earning interest before cut-off.

Pickledonionlover

https://forums.moneysavingexpert.com/discussion/comment/82153945#Comment_82153945

Balance credited to nominated account 👍

Kim_13

Another £74.82 just landed in my nominated account from Melton - the rest of the interest? My balance was never lower than £2,500 since they last paid interest, closing balance £2,800.

SloughSally

if you mean closing your existing Nationwide Flex Regular Saver before its 12-month maturity and then trying to open a fresh one, Nationwide’s current terms indicate you cannot use this as a way to reset the 12-month account.

Taken from ChatGPT and Nationwides T&Cs , I will leave it at that.

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82154388#Comment_82154388

Where in the Nationwide RS terms does it say this? Please could you provide a quote from the Ts&Cs that say that if you close the RS before the end of the term, you cannot open a new RS till the anniversary of your old one being opened? I cannot find anything in the Ts&Cs to that effect, but as ever, I'm more than happy to be corrected if you can provide proof.

masonic

https://forums.moneysavingexpert.com/discussion/comment/82154375#Comment_82154375

Yes, I've just received the rest of my interest to my nominated account. Hats off to Melton for sorting it so quickly and efficiently.

masonic

https://forums.moneysavingexpert.com/discussion/comment/82154388#Comment_82154388

Unfortunately, misinformation is a common outcome when someone acts as a meat proxy (a human that copies and pastes from an AI without applying human judgement or critical thinking).