Nationwide Regular Saver Eligibility

christiem94 · 1 May 2017 at 9:00PM

My partner and I only have a joint flexdirect account. I found that when applying for the saver it asked if I was registered for online banking. If I selected yes it prompted me to sign in and then it could only be opened in joint names. However, if you select no to being registered for online, it allowed me to open up 2 flexclusive regular savers; one in my name and one in my partners name. Give it a go!

SallySunshine · 2 May 2017 at 12:01AM

Thanks for that Christie, will try that next month but what a weird way to get to open an account!

youngretired · 2 May 2017 at 9:50AM

To open a Flex regular saver when only holding a joint Flex account you apply outside of your online banking as christiem94 says. You then need to fund the initial payment from a sole bank account held elsewhere as the account mimics the name from the 1st payment, you are then able to fund the rest of the payments via your joint Flex account.

SallySunshine · 2 May 2017 at 10:33AM

Just looked at the on-line application, and indeed it will let you open an account by choosing
"Not registered for on-line banking"
Guess my O.H. could register once this is opened.
"Not sure about funding the initial payment for a bank account held elsewhere" though as it gives you the following choices

Would you like to move money into your new account as part of your application?

Your initial deposit will be deducted from the available balance of your funding account within 3 days and credited to your new account on the same day. You will be able to access your new account within 7 days. Interest is payable from the date of application.

Yes, from a Nationwide account
No, I'll do it once my account is open

So it does read like you can open it from an internal account?

More confused by the minute:(

RG2015 · 2 May 2017 at 1:30PM

SallySunshine wrote: »

RG2015, I'll be interested to know how you get on.
sometimes you can get differing answers from different lines of enquiry.
I won't be able to sort out anyway until June at the earliest.

I received the following reply today. I will also follow up here when we have received details of our new joint account and followed up with the regular saver application.

Incidentally, today my wife opened a new sole Santander regular saver at 5% by virtue of our joint 123 current account.

Hi Mr Xxxxxx,

Thank you for your message today.

It is great to learn you have recently opened a new joint current account with us. As you are opening a FlexDirect account, your wife can then certainly open a new Flex Regular Saver account Mr Xxxxxxx once the account is open.

I do hope this has helped, if you do have any other questions please do feel free to get back in touch or you can give us a quick call on 0800 302011 or if abroad, please call us on +44 1793 656789.

Best wishes,

Fred Flintstone

Customer Consultant
Digital Servicing
http://www.nationwide.co.uk

badger09 · 2 May 2017 at 1:32PM

SallySunshine wrote: »

Just looked at the on-line application, and indeed it will let you open an account by choosing
"Not registered for on-line banking"
Guess my O.H. could register once this is opened.
"Not sure about funding the initial payment for a bank account held elsewhere" though as it gives you the following choices

Would you like to move money into your new account as part of your application?

Your initial deposit will be deducted from the available balance of your funding account within 3 days and credited to your new account on the same day. You will be able to access your new account within 7 days. Interest is payable from the date of application.

Yes, from a Nationwide account
No, I'll do it once my account is open

So it does read like you can open it from an internal account?

More confused by the minute:(

Yes, of course you can open it from an internal account, but I'm fairly sure that's when you encounter the problem of a joint Regular Saver being opened from an application made within a joint current account:cool:

SallySunshine · 2 May 2017 at 2:22PM

Think I've got it now, when the time comes, My O.H. opens a sole Saver account on-line but stating he is not registered for on-line banking, also states No to moving money into the new account as part of the application, he then funds the initial deposit from another provider.
Then, the next month he sets up a S.O. from our joint Loyalty account to fund the Saver acc monthly.

So, his sole account will have to be set up before I open one up from our joint flex account, also to be funded from out joint Loyalty.

If I've got this wrong, think I will just give up!
Got 2 ISA's to transfer shortly, also with different conditions.
Reading through the small print of all available is really doing my head in!

youngretired · 2 May 2017 at 9:33PM

You will have to open your individual regular saver without logging into your online account like your husband and there is no need to wait for his to be opened first. Even though your husband may open his first if you then open yours in your online banking and fund the initial payment from a joint it will still make yours a joint regular saver, therefore breaking the T&C's for your husband as he will be named on 2.

SallySunshine · 2 May 2017 at 10:09PM

This is getting surreal, are you saying that when I open an account for myself on-line I have to say I am not registered for on-line banking with them, when I am?

youngretired · 3 May 2017 at 10:56AM

Yes. My brother-in-law had to do this in March as he did not hold a sole Nationwide account only a joint.

I enquired via secure message in December because my husband had a maturing regular saver but no longer held a sole Nationwide account only joints, so I asked how he would go about opening another one after reading a forum on here and this is what they said to do.

Fortunate for my husband he managed to open the new regular saver and fund the initial payment from the matured regular saver before it closed.

Nationwide Regular Saver Eligibility

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free