Nationwide 1Y Triple Access Saver - can I change account before 12th month?

Halabala9

Hi Everyone,

I just wanted to double check one information. I opened Nationwide 1Y Triple Access Saver about 5 months ago, it currently gives me 3.5% (I haven't used any withdrawal). I can see that they've got a new account that gives 4% currently. Can I just open the new one and transfer my money without losing the interest I earned over the last 5 months? Is that interest counted daily or at 12th month mark? Is there any penalty if I zero that account now?

Regards

flaneurs_lobster

You can close the 1yr 3x access saver account at any time, the interest to date will be added to the balance.

The only account I can see at NW paying 4% is a 1 year fixed bond, that one won't allow withdrawals for a year.

They've also just released a 1 yr fixed cash ISA paying 4.5.%.

Halabala9

They've got to be kidding me... yesterday I had one with 4% and 1 withdrawal limit under Limited Access accounts but it's gone today...

wiseonesomeofthetime

https://forums.moneysavingexpert.com/discussion/comment/81988497#Comment_81988497

But apparently there's a Silver Lining 🤷

ranciduk

the triple access account is variable and is now down to 3.3%

bucklb

I'm just in the process of transferring my isa from nationwide to principality. I'm not bothered by minor differences in interest rate but principailty is offer ing 0.9% more and even more withdrawals than nationwide. The fact it's apparently a flexible isa too is the cherry on the cake

Halabala9

I actually decided to withdraw all that money and buy some ETFs. I think I opened that account around 8 months ago or so, what will happen with the interest earned so far over those 8 months if I zero the account now, before 12months term? If I understand the information I found correctly, the interest is calculated daily but added at the end of 12 months term, I assume if I zero the account now, with 4 months left, I will still get 8 months interest at the end even when the account is zero from now on?

Halabala9

https://forums.moneysavingexpert.com/discussion/comment/82031450#Comment_82031450

So if I plan to zero it now, should I submit a closure request, or just leave it till 12 months with zero £ in it?

DRS1

Do you want to leave the account open - perhaps so you qualify for the Member Bond? If so best to leave a little in it rather than take it down to zero.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82031453#Comment_82031453

Do you want the interest now? Close the account.

Don't want the interest for 4 months? Don't close the account.

elkiedee

I'd leave it open with a token amount in it, and keep a bit of money in an easy if limited access account somewhere so that you can take up future offers.