Nationwide Flexclusive Regular Saver value HALVED
wiseonesomeofthetime
Posts: 2,074 Forumite
I have checked to see if there is already an article or thread on this, however, just wondering if anyone else has noticed that Nationwide has halved the amount you can invest in their Flexclusive Regular Saver (FRS) in issue 2?
I see that the reduced amount, now £250 per month instead of issue one's £500, is correctly reported on MSE's Best Buys, yet did not see any real coverage of this drop anywhere, despite actually being a Nationwide customer and holding an Issue One FRS.
Was looking to do the same again when the current FRS matures, however, now need to find more alternatives to make any real return on the 'second' £3,000.
Already hold umpteen current and savings accounts with several banks.
Do you sometimes wonder whether it is really worth all the effort?
Oh, those days of one current account, one savings account with decent interest rate, and one credit card. Life was so much simpler then. :beer:
I see that the reduced amount, now £250 per month instead of issue one's £500, is correctly reported on MSE's Best Buys, yet did not see any real coverage of this drop anywhere, despite actually being a Nationwide customer and holding an Issue One FRS.
Was looking to do the same again when the current FRS matures, however, now need to find more alternatives to make any real return on the 'second' £3,000.
Already hold umpteen current and savings accounts with several banks.
Do you sometimes wonder whether it is really worth all the effort?
Oh, those days of one current account, one savings account with decent interest rate, and one credit card. Life was so much simpler then. :beer:
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Good spot. I dont think I'll renew again (renewed for a 2nd year a few months ago). I was going crazy for current accounts and regular savers last year but since all the rate cuts, I've been moving my cash in S&S. TSB for example, at £3 a month interest, the appeal really is gone.0
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It was flagged up just over a week ago in the Regular Savings Accounts Article Discussion thread and then cross-referred from the Regular Savings Accounts: The Best Currently Available List thread.wiseonesomeofthetime wrote: »I have checked to see if there is already an article or thread on this, however, just wondering if anyone else has noticed that Nationwide has halved the amount you can invest in their Flexclusive Regular Saver (FRS) in issue 2?
I see that the reduced amount, now £250 per month instead of issue one's £500, is correctly reported on MSE's Best Buys, yet did not see any real coverage of this drop anywhere, despite actually being a Nationwide customer and holding an Issue One FRS.0 -
Hi, I just noticed this reduction. I opened a replacement Flexclusive Regular Saver on 23 June with an initial 500 deposit. I'd assumed the same 500 pm limits applied. That deposit was not rejected in the month that just passed.
When I look at the products currently offered, the account is ( not always) referred to as 'Flexclusive Regular Saver 2'
I see that the pdf file with product description has the new limit of 250 pm, is dated at the bottom as July 2017.
Might it be that the limit changed down as of July and after I opened mine in June? Is the limit on mine still 500?
Well, I've fired of that question off to support. Will report back later.0 -
Isn't your question already answered on their website?...Might it be that the limit changed down as of July and after I opened mine in June? Is the limit on mine still 500?
Well, I've fired of that question off to support. Will report back later.For Flexclusive Regular Saver accounts opened from 13 July 2017.
http://www.nationwide.co.uk/products/savings/flexclusive-regular-saver/features-and-benefits0 -
Thanks YB. Hadn't seen that line
"For Flexclusive Regular Saver accounts opened from 13 July 2017."
Look's like I got in just in time.0 -
I've been lucky here, as I opened my second Flexclusive Regular Saver in May 2017, giving me about 10 months of paying in £500 per month after the drop to £250 per month for accounts opened from 13 July. It's very disappointing for those just coming up for renewal, but still a competitive account (paying 5% pa) and still well worth worth having. I will renew in May 2018 at £250 per month, assuming that the interest rate is still worthwhile.
Edited to add: Second to mean subsequent, not two accounts together.0 -
to original post TOTALLY AGREE with last 2 sentences, and no I hadn't noticed, thanks. And Yes I am still bothering with the transfers hoping for that rate rise..................................0
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Deleted_User wrote: »It's very disappointing for those just coming up for renewal, but still a competitive account (paying 5% pa) and still well worth worth having.
Sh. Don't jinx it , as a rate cut could be the next move.
I haven't opened a new TSB regular saver with the lower rate of 2% , thinking a Lloyds current account will pay the same , but immediately, on the full amount accrued with TSB.0 -
I'd rather a cut deposit amount than a cut rate0
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