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Thread: Nationwide's 5 percent cash savings account - Flexclusive Regular Saver 2

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    Nationwide's 5 percent cash savings account - Flexclusive Regular Saver 2

    Nationwide's 5% cash savings account - Flexclusive Regular Saver 2, sadly it's just dropped from being able to saving 500 a month to 250, according to the compound interest calculator on our sister site: Compound Interest Calculator - Money | Saver Scene Australia you'd still get 82.67 after 1 year if you added the 250/ month:

    Flexclusive Regular Saver

    Save up to 250 a month and get our highest instant access rate for 12 months. Exclusively available to members with a main current account* with us.


    Flexclusive Regular Saver Rates and Features | Nationwide
    After years of using Quidco I've moved to TopCashBack it's paying better these days!
    The remaining info is still the same:



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    Flexclusive Regular Saver

    Save up to 250 a month and get our highest instant access rate for 12 months. Exclusively available to members with a main current account* with us.
    You don’t need to worry about carrying another card around with you - just transfer money to and from your Nationwide current account whenever you need to through our Internet Bank, on the go with our Banking app (if registered for Internet Banking) or in branch.

    For Flexclusive Regular Saver accounts opened from 13 July 2017.


    Help with your savings

    Our support pages have information on how to manage your account and view interest rates.
    Go to Savings & ISA support



    Summary Box

    Account name

    Flexclusive Regular Saver 2



    What is the interest rate?

    5.00% AER/gross p.a. (variable).

    Interest is calculated daily and paid annually on the anniversary of account opening and on closure.
    You can choose to have interest added to your account, a Nationwide current or savings account (subject to the terms and conditions of the receiving account), or a current account with another bank or building society.



    Can Nationwide change the interest rate?

    Yes, the interest rate is variable. This means we have the ability to change the interest rate. Please see the ‘Interest’ section in the Savings General terms and conditions which sets out when we can vary the interest rate and how we will notify you if this happens.



    What would the estimated balance be at the end of the 12 months based on 12 monthly deposits of 250 totalling 3000?

    The estimated balance on 12 monthly deposits of 250 paid on the first day of each calendar month with an interest rate of 5.00% AER/gross p.a. (variable) would be 3,081.25.

    This estimated balance is for illustration only and assumes that:

    • Interest is paid into the account.
    • No further deposits or withdrawals are made.
    • There is no change to the interest rate.
    • Individual circumstances do not change.
    • Interest is calculated daily.
    • Interest will vary by dates of deposits.




    How do I open and manage my account?

    To open this account:
    You need to be 18 or over and a main current account customer with us. This means you must either:

    • Hold a FlexOne account and be aged 18 or over, or 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; or

    • Hold a FlexStudent account and have paid in 1,500 in 2 or more transactions in the last 12 months.
    • Hold a FlexDirect or FlexPlus account.

    You can open this account with a minimum of 1 up to a maximum of 250.
    Please note: You can only be the first named account holder of one Regular Saver, Flexclusive Regular Saver or Flexclusive Regular Saver 2 account at any one time, which can be held in sole or joint names.
    You can open this account:

    • Online using the secure application form (use the 'Start application' button below this summary box)
    • Via our Internet Bank (if you are registered).
    • Using our Banking app (you must be registered for Internet banking).
    • Alternatively, in branch.

    You can manage your account:

    • Via the Internet Bank or Banking app (if you are registered for Internet Banking).
    • Alternatively, in branch.

    There is no requirement to make a deposit each month but the maximum you can deposit each calendar month is 250.
    Please note: you will need a minimum of 1 in the account for it to operate.
    It’s easy to move your savings between your existing Nationwide savings account or to open a new savings account with us. We can also close your existing savings account if you want us to. Simply go to nationwide.co.uk, use our Banking app or visit one of our branches.



    Can I withdraw money?

    Yes, this is an instant access savings account so you can get access to your money whenever you need it.
    You can:

    • Transfer money to another Nationwide current account or instant access savings account held in your name, using our Internet Bank or Banking app (if you're registered for Internet banking).
    • Withdraw up to 500 a day in cash or up to the account balance by cheque at any of our branches.
    • Make transfers by CHAPS (please note, this service is only available in branch and there is a fee payable).

    Please note: If you’re the second account holder and don’t hold any other Nationwide accounts, you’ll only be able to access your account in branch.



    Additional information

    • This is a 12 month term product and when this period has passed the account will transfer into a Flexclusive Saver account, or its nearest equivalent, and the terms and conditions and interest rate of that account, at that time, will apply.

    Interest rate definitions explained:

    • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
    • Gross p.a. is the interest rate without tax deducted.

    You may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information please visit HMRC’s website (This link will open in a new window).
    The tax information provided is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.
    The rates and information in this summary box are correct as at 13 July 2017.
    After years of using Quidco I've moved to TopCashBack it's paying better these days!
    The remaining info is still the same:


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