withdraw money from nationwide regular saver

thenewcomer
thenewcomer Posts: 146 Forumite
First Anniversary Name Dropper First Post
in Savings & investments
could i do that? would it take me out from being eligible to get 5% interest pa on the other cash in it?
Aim to retire by 45.

Comments

  • BigBucket
    BigBucket Posts: 27 Forumite
    Combo Breaker First Post First Anniversary
    Number 14.

    You should be fine.

    :D


    Taking Money Out

    14
    You can take money out of your account at any time without giving notice or losing any interest. You cannot take out more than the balance available on the account.

    15
    Any card issued for use with this account can only be used in a Nationwide cash machine.
  • Alexland
    Alexland Posts: 9,653 Forumite
    First Anniversary Photogenic Name Dropper First Post
    edited 6 January 2018 at 11:05AM
    I have done it before with Nationwide and it's fine. You will still get the interest calculated by the day for when the money was in the account when it matures. They don't really want to be giving you too much 5% interest anyway. I do wonder why HSBC don't take this more flexible approach on their regular saver.
  • thenewcomer
    thenewcomer Posts: 146 Forumite
    First Anniversary Name Dropper First Post
    I'm with HSBC too and I always feel HSBC has higher stricter criteria. well as such an international bank, they do not really care much as they have established the name.
    Aim to retire by 45.
  • fly-catchers
    fly-catchers Posts: 642 Forumite
    First Post Name Dropper First Anniversary Combo Breaker
    No issues. I recently took a couple of thousand out to pay for my boiler. The 5% interest continued on the rest.
  • Kim_13
    Kim_13 Posts: 2,421 Forumite
    Name Dropper First Anniversary First Post Photogenic
    You can do this. As other posters have said, you'll still get the interest accrued up to now and continue getting 5% on anything left in the account until the end of the term.

    You won't be able to replace any of the money, other than for the current month (subject to the £500 or £250 maximum, depending on which issue you hold.)
  • AirlieBird
    AirlieBird Posts: 1,046 Forumite
    Kim_13 wrote: »
    You won't be able to replace any of the money, other than for the current month (subject to the £500 or £250 maximum, depending on which issue you hold.)

    You can replace withdrawn money from the flex regular saver in the month it is withdrawn in addition to the monthly allowance. Contrary to what the summary box says, the terms are that the balance cannot increase by more than £500/£250 a month, not that that is the maximum that can be deposited each month. I've pointed out this inaccuracy to them before.
    Did you really mean to put loose?
    Lose: no longer possess, not to retain, unable to find
    Loose: not firmly or tightly fixed in place
  • Alexland
    Alexland Posts: 9,653 Forumite
    First Anniversary Photogenic Name Dropper First Post
    thenewcomer wrote: »
    I'm with HSBC too and I always feel HSBC has higher stricter criteria. well as such an international bank, they do not really care much as they have established the name.

    I have come to the conclusion that HSBC take some kind of pride in creating rules and being unnecessarily tough with their customers. It doesn't bother me as I shop around and if it makes their offer less compelling then they are less likely to get my business.
  • thenewcomer
    thenewcomer Posts: 146 Forumite
    First Anniversary Name Dropper First Post
    Alexland wrote: »
    I have come to the conclusion that HSBC take some kind of pride in creating rules and being unnecessarily tough with their customers. It doesn't bother me as I shop around and if it makes their offer less compelling then they are less likely to get my business.

    very true. heck, unless we are extremely big customers, they would not bat an eyes on us. they have too many premier customers
    Aim to retire by 45.
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