Regular Savings Accounts Article Discussion

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  • Jo_Blogs
    Jo_Blogs Posts: 753 Forumite
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    Virgin Money - Regular E-saver Issue 6 - New as of today!

    Replacing Issue 5

    Regular E-Saver Issue 6 £250 pm 2.25% fixed rate - Interest paid Monthly or Annually

    There's also a parallel Store version for those who can easily get to one. (Issue 5) Interest paid Annually

    Here's the link: [Easy Access]

    http://uk.virginmoney.com/savings/find/results/#all
    Saved Nitty Gritty £7440.75 [149%] / £5000-[Sep] £58.44:starmod: for the 'Save 12k in 2017' #157
    2017 Womble #35 £3463.27 ;)Sept NSDs 4/15:staradminCCCChl 9/12 months:D    Sept PPChl#002 Pts 71
  • mhoc
    mhoc Posts: 19,262 Forumite
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    iamsam wrote: »
    From today Nationwide seem to have revised their regular saving offering to halve the monthly contribution level (£500 to £250/month):
    http://www.nationwide.co.uk/products/savings/flexclusive-regular-saver/features-and-benefits

    This is a really odd freeky coincidence.

    On my calendar today I noticed a reminder for July 15th which said open a new Flexclusive regular saver - my old one must have matured July 15th 2016 so I put the reminder on the calendar as it had to be 12 months between an old account closing and a new one opening.

    So I went through and it allowed me to open
    Flexclusive regular saver 2
    I was a bit confused when it only allowed me to put in £250 a month but at least it allowed me to do it even though its July 13th.
    I will know in a few days time if it has been successfully opened and not rejected.
    In the meantime I've adjusted all of the relevant calendars and forward projections excels.

    I've also done various search's and I now cant find any reference to there being a 12 month gap between an old account maturing and a new account opening. Perhaps I was told this over the phone? Or the rules have changed?
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
  • mhoc
    mhoc Posts: 19,262 Forumite
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    iamsam wrote: »
    From today Nationwide seem to have revised their regular saving offering to halve the monthly contribution level (£500 to £250/month):
    http://www.nationwide.co.uk/products/savings/flexclusive-regular-saver/features-and-benefits

    My OHs Nationwide regular saver matures in January and he is paying in the full £500 - I wonder will we get an email about reducing the maximum or will he be allowed to continue at £500 ???

    Also my son opened one a few weeks ago but only with £1 - just started back into work - once his wages settle he really needs to be saving as much as he could, ideally as close to the full £500 a month - £250 is not going to be enough for his future plans
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
  • karlie88
    karlie88 Posts: 9,114 Forumite
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    mhoc wrote: »
    This is a really odd freeky coincidence.

    On my calendar today I noticed a reminder for July 15th which said open a new Flexclusive regular saver - my old one must have matured July 15th 2016 so I put the reminder on the calendar as it had to be 12 months between an old account closing and a new one opening.

    .............

    I've also done various search's and I now cant find any reference to there being a 12 month gap between an old account maturing and a new account opening. Perhaps I was told this over the phone? Or the rules have changed?

    Providing you had an eligible NW current account in July 2016, you could have opened another 5% regular saver the same day. There's never been a '12 month gap' term imposed with their 5% regular saver. I think you're getting confused with their 5% FlexDirect current account, which does have this term.
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • karlie88
    karlie88 Posts: 9,114 Forumite
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    mhoc wrote: »
    My OHs Nationwide regular saver matures in January and he is paying in the full £500 - I wonder will we get an email about reducing the maximum or will he be allowed to continue at £500 ???

    Also my son opened one a few weeks ago but only with £1 - just started back into work - once his wages settle he really needs to be saving as much as he could, ideally as close to the full £500 a month - £250 is not going to be enough for his future plans

    Your OH and son would've opened a Flexclusive Regular Saver. NW's new account is labelled Flexclusive Regular Saver 2. They can continue to deposit £500.
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • jennyjj
    jennyjj Posts: 346 Forumite
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    karlie88 wrote: »
    Your OH and son would've opened a Flexclusive Regular Saver. NW's new account is labelled Flexclusive Regular Saver 2. They can continue to deposit £500.
    and it seems the new 250 limit was introduced
    "For Flexclusive Regular Saver accounts opened from 13 July 2017."
  • buyhighselllow
    buyhighselllow Posts: 243 Forumite
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    edited 21 August 2017 at 9:38AM
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    Hi

    Need to do a bit of planning

    I have a Flex Regular saver account that will mature in September (£500/month ). Can someone tell me if I will ( as things stand at the moment ) be offered another 5% regular saver and at what level of contribution 500 or 250..cheers


    And a second question...I've now managed to open another regular saver at 250/month..I thought you could only have one regular saver account per person ??
    Over £2K made from bank switches and P2P incentives since 2016 :beer:
  • ColdIron
    ColdIron Posts: 9,051 Forumite
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    This is what I found on the Nationwide site, it's a good resource for Nationwide products
    http://www.nationwide.co.uk/products/savings/flexclusive-regular-saver/features-and-benefits
  • mhoc
    mhoc Posts: 19,262 Forumite
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    Please can I ask does anyone think a Virgin Money - Regular E-saver Issue 7 might be launched in September?

    son is looking for another totally flexible regular saver - one that he can add to or withdraw at any time, ideally over 1.75% and ideally operate online. A few I thought might be suitable only allow one withdrawal a year and his income is not constant enough to have limited withdrawals.
    He has his Nationwide Flexclusive 5% and Virgin Money - Regular E-saver Issue 6 which really are all he needs but he has had a good salary month and its annoying him that he has money in his current account earning nothing :D
    I think I might get him to open a branch based one if another Virgin Money - Regular E-saver is not due
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
  • ctdctd
    ctdctd Posts: 1,080 Forumite
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    mhoc wrote: »
    Please can I ask does anyone think a Virgin Money - Regular E-saver Issue 7 might be launched in September?

    son is looking for another totally flexible regular saver - one that he can add to or withdraw at any time, ideally over 1.75% and ideally operate online. A few I thought might be suitable only allow one withdrawal a year and his income is not constant enough to have limited withdrawals.
    He has his Nationwide Flexclusive 5% and Virgin Money - Regular E-saver Issue 6 which really are all he needs but he has had a good salary month and its annoying him that he has money in his current account earning nothing :D
    I think I might get him to open a branch based one if another Virgin Money - Regular E-saver is not due

    Has he considered opening high interest current accounts either to replace or run alongside his non interest paying one?
    Do Money Saving sites make you buy more bargains - and spend more money?
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