Regular Saver Thread **New and Restarted**

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  • apt
    apt Posts: 3,188 Forumite
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    Special Saver - you've got the Virgin Money E Regular Saver issue 10 in the wrong section as the term is currently over 12 months.
  • binaryuniverse
    binaryuniverse Posts: 906 Forumite
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    My Flexdirect account's 5% is coming to an end, at the start of May. My Regular Saver will continue. But just wondering do I need to keep paying in £1000 to the Flexdirect account, to keep that account, or can I just leave a £1 in it and be done with it (with the odd pay in, and buy a few things, to keep it active)?

    Or should I downgrade the account?
  • glider3560
    glider3560 Posts: 4,115 Forumite
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    binaryuniverse wrote: »
    My Flexdirect account's 5% is coming to an end, at the start of May. My Regular Saver will continue. But just wondering do I need to keep paying in £1000 to the Flexdirect account, to keep that account, or can I just leave a £1 in it and be done with it (with the odd pay in, and buy a few things, to keep it active)?

    Or should I downgrade the account?
    You don't need to pay anything into a FlexDirect to get the Flexclusive products. It's only FlexAccount holders who need to keep paying in.
  • binaryuniverse
    binaryuniverse Posts: 906 Forumite
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    Lurvely, ta.

    Will just keep a quid in it then. It's never had any DDs and such.
  • glider3560
    glider3560 Posts: 4,115 Forumite
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    binaryuniverse wrote: »
    Lurvely, ta.

    Will just keep a quid in it then. It's never had any DDs and such.
    Mine has only ever had £1 in there. Got it mainly to get a better mortgage rate (but ended up getting declined), but the savings products are a bonus.
  • binaryuniverse
    binaryuniverse Posts: 906 Forumite
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    Actually, thinking about it, it still has to have a regular payment of £250pm to service the RS. So that's enough to keep it active.
  • mary
    mary Posts: 1,584 Forumite
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    I downgraded from the FlexDirect to the Flex Account a while ago and have been paying in £750 per month, leaving £250 for the RS and bouncing the remaining £500 out again. Somewhere I had got it in myhead that you had to pay in £750. So was I dreaming then?
  • binaryuniverse
    binaryuniverse Posts: 906 Forumite
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    As far as I am aware, you only need to pay in £750 to get the interest. Since I'm not fussed about the 1%, I will just pay in £250.

    Also realising I am answering my own question earlier. I guess I just needed it confirmed by someone else. :rotfl:
  • polymaff
    polymaff Posts: 3,904 Forumite
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    Checked this very issue on the 'phone last night, and the website has it right:
    1. hold a FlexOne, FlexStudent, FlexDirect or FlexPlus account, OR
    2. hold a FlexAccount and:
      • have been paying in £750+ a month for the last 3 months (excluding transfers from any Nationwide account held by you or anyone else)
        OR
      • completed an account switch to us (from a non-Nationwide account) using our Current Account Switch Team in the last 4 months.


      Note the mention of £750

  • RG2015
    RG2015 Posts: 5,907 Forumite
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    mary wrote: »
    I downgraded from the FlexDirect to the Flex Account a while ago and have been paying in £750 per month, leaving £250 for the RS and bouncing the remaining £500 out again. Somewhere I had got it in myhead that you had to pay in £750. So was I dreaming then?
    Is there any benefit of downgrading from a FlexDirect to a Flex account? After the first 12 months I have just kept £1 in my FlexDirect account and transfer in £250 per month for the regular saver
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