If you are a Nationwide main current account customer*, our Flexclusive Regular Saver offers our highest instant access savings rate. Could this be just the encouragement you need to start saving?
Flexclusive Regular Saver lets you increase your balance by up to £500 each month for 12 months, with the reassurance of unlimited instant access to your money and easy management online, via our Mobile Banking app, or in branch.
Flexclusive Regular Saver is for individuals aged 18 or over who meet one of the following two criteria:
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 FlexDirect or FlexPlus account.
You can hold only one Regular Saver or Flexclusive Regular Saver account, which can be held in either sole or joint names. Only one account holder must meet the eligibility criteria.
Top comments
SuperBen to fishmaster
16 Jan 1615#17
You're right, the money under my mattress has been earning so much...
upsy
16 Jan 167#4
Thanks guys, I did check but no posts found.
This rate is effective from 01-Dec-2015 only.
I just found out about this yesterday and opened it. Its showed on my online banking today and I posted here to share.
Chet
16 Jan 164#9
the £10/month flexplus option on this account is fantastic. Includes mobile phone insurance, breakdown cover, worldwide travel insurance and an extra years warranty on certain home products. And becoming a flexplus customer means no need to have £750 flowing through the account each month to benefit from the 5% interest and regular saver rate.
Excellent account and service - I claimed on the mobile phone insurance last month due to water damage - sorted within a week without any issue. Highly recommended
nodtomc
16 Jan 163#38
That information is really useful. Now let me just get in my time machine to go back to 1985 so I can invest some money
All comments (90)
yabadababoo
16 Jan 161#1
This has been available for a wee while. Sure it was posted here before. Been saving in it since December 1st.
shack69
16 Jan 161#2
This account has been around for a few months now.
tolester
16 Jan 161#3
Already got mine too
upsy
16 Jan 167#4
Thanks guys, I did check but no posts found.
This rate is effective from 01-Dec-2015 only.
I just found out about this yesterday and opened it. Its showed on my online banking today and I posted here to share.
thank you for this..I have flex plus account and it took me two minutes to open this saving account using internet banking
crocobaur
16 Jan 16#7
Heated. Bear in mind that from April there will be a tax-free interest allowance, so 5% net interest.
tammy26 to crocobaur
16 Jan 16#10
Is the 5% isa the one thats only available to first time buyers?
Ridgehead
16 Jan 16#8
Cheers OP, hadn't seen this.
Chet
16 Jan 164#9
the £10/month flexplus option on this account is fantastic. Includes mobile phone insurance, breakdown cover, worldwide travel insurance and an extra years warranty on certain home products. And becoming a flexplus customer means no need to have £750 flowing through the account each month to benefit from the 5% interest and regular saver rate.
Excellent account and service - I claimed on the mobile phone insurance last month due to water damage - sorted within a week without any issue. Highly recommended
joesmum to Chet
16 Jan 161#15
thanks for this, had no idea they had this account at Nationwide!
upsy
16 Jan 16#11
I guess 'Chet' meant, new tax change from April 2016 means no tax on interest earned unless you are a higher rate tax payer with lots of savings.. Upto £1000 interest tax free for basic earner and £500 for higher rate payer.. Bank won't be deducting automatic tax on interest as they do now. ISAs rule and allowance remain as its is. see Gov.uk for details.
russblade
16 Jan 161#12
thanks , how longshould it take to show on internet banking/app
upsy to russblade
16 Jan 161#13
1 Day
DBoniface
16 Jan 161#14
thanks OP - incase anyone was wondering how much different it is to Santander 123 account you end up with £174 more because the interest is paid after a year so you get it all tax free (if its your first £1000 of interest) as of April 2016
fishmaster
16 Jan 161#16
Why would anyone save money in a bank, that is a completely hopeless return.
SuperBen to fishmaster
16 Jan 1615#17
You're right, the money under my mattress has been earning so much...
snoopy18 to fishmaster
16 Jan 16#18
All mine is in Santander 123, what do you suggest
adwils to fishmaster
16 Jan 16#21
Yeah much better in high yield equities - pity their price has dropped 10% this year
LongPockets to fishmaster
16 Jan 16#40
Usually, yes. That is why this account is so interesting, because the 5% interest is a good return.
pantaiema to fishmaster
17 Jan 16#72
Compared to what, Gambling, Betting??
Currency trading? Well I fully believe the people who are currency trading using £ as the basis will disagree with you.
Share / investing?? What about the people who are currency holding share in Oil, Emerging market??
P2P lending, well not worthy a risk if you could get similar or even a better return with high interest current account combined with Regular saver account without any risk at all.
Mind to tell your alternative ??
Banking_Noob
16 Jan 16#19
So...
If I pay 500 in the first month I get 4% interest which is £20.
Then the next month I put another 500 in giving me 1020 (inc last months interest) which should give me £40 in interest.
Does it roll on like that each month for 12 months? I am sure I have got that wrong as it will mean you get in excess of £1.5k in interest?!
JayG to Banking_Noob
16 Jan 162#22
You have got it wrong. That's the annual interest. So a monthly payment will be about 1/12 of 4%
nb2508 to Banking_Noob
16 Jan 16#29
No, its 4% annually
aym280 to Banking_Noob
16 Jan 16#55
How could the CEOs earn nearly £Ms if they gave you interest like this. There is loads of terms under the umbrella of interests and it might be helpful just to pick up the phone and ask this question: If I put in £1000 every month, how much interest can I earn? And is the interest compound? Daily calculated, monthly or annually. You will be surprised how much you can learn from such a phone call.
patriciapilates
16 Jan 16#20
Thank you for posting. That helps me.
JayG
16 Jan 16#23
So negative 10% is better than 5%?
juniper
16 Jan 161#24
Aswils was being sarcastic.
Still waiting for fishmaster to show a better deal; else assume they are just trolling
bobmccluckie
16 Jan 16#26
A monthly saver ends up with an Apr about half the headline rate.
juniper to bobmccluckie
16 Jan 161#28
The APR is the APR. I think you mean that you end up with about have the £interest that you would have if e.g. the full £6000 (12 x £500) had been in the account for the whole time. £500 at the end of the 1st month; £6000 at the end of the 12th month. Average is £3000.
andrew1974
16 Jan 16#27
Thanks for this, am a Nationwide customer and had missed it. Much appreciated!
fishmaster
16 Jan 163#30
Not trolling, was being serious. As for showing a better deal, there's no good deals saving in banks as far as I'm concerned. Spend time and research stock and shares funds, you can drip feed the money in or invest a lump sum up to £15,000 a year. There's risk but risk affords you gains. Saving in banks is for mugs. It's safe but you don't gain hardly anything on the investment, so it's just not worth it. Traditionally the stock market has performed way above banks, this is where you should put money for long term saving. Alvin Hall had a simple formula for working out how much risk to take based on age. It's not rocket science making money. 4% gain on savings, surely that's a joke.
juniper
16 Jan 162#31
I understand the sentiment, and have a spread of risk myself, but for many people that do not have the time or inclination for research, or the appetite for risk, 5% is a good rate. And it does of course, carry no risk. Show us an equity based savings vehicle with a guaranteed return in excess of 5%, and we will be impressed.
fishmaster
16 Jan 16#32
I'll demonstrate it this way :
£10K invested @ 5% in 1985 £44,677.44
£10K invested in the stock market in a single Fidelity fund in 1985 £120,000 (fund now closed to new adopters)
Both the above are the theoretical, in fact one is true the other isn't, the first isn't as the rate hasn't been 5% continuously for 30 years. the second one is true.
snoopy18
16 Jan 162#33
To be fair to fishmaster he talks more sense than most on this site
juniper
16 Jan 16#34
OK, everyone knows that that that will probably happen in the long run, but where can you get the same 8.4% APR as that guaranteed, which is more of interest to the majority of HUKD savers?
Apologies for the massive off topic, but at least we are being civilised :-)
juniper
16 Jan 161#35
Acknowledged.
fishmaster
16 Jan 161#36
Death is guaranteed, so make the most of your life whilst you're here, if you're happy with average then so be it, I'm not and never will be :smiley:
I must say I'm grateful and fortunate to be allowed the freedom of the western world, plenty of other people in this life are forced to accept even less than average.
J400uk
16 Jan 16#37
Is this better than the 123 account for saving them? Or is it worth waiting until April when the rules change?
nodtomc
16 Jan 163#38
That information is really useful. Now let me just get in my time machine to go back to 1985 so I can invest some money
pothole to nodtomc
16 Jan 161#51
Why would you want to do that? Wasn't inflation back then as high as the headline interest rate?
withnail1969
16 Jan 16#39
Thanks op. I'd seen this before but this was the prompt I needed to open the account - cheers!
COUPONKEV
16 Jan 162#41
And what would £10k or £15k invested in such a fund or similar in May 2015 be worth now?
You should of course reap better rewards over the long term and I am not disputing your figures but how many HUKD members do you think are likely to be investing for the long term? I would hazzard a guess that anyone savvy enough who wants to save money long term keeps well clear of HUKD because whilst it may save you a bob or two on last years tech it sure becomes addictive and drains every spare penny if you're not careful :smiley:
Good to have options. I have chosen the Nationwide route because my fingers have been burnt too many times on S&S over the years.
LongPockets
16 Jan 16#42
He probably is. Still, you can get a better rate with this regular saver:
First Direct regular saver: 6pc - Minimum deposit £25, minimum monthly deposit £25 and maximum £300. Access on closure only during the 12-month term. You need to hold or open a First Direct current account to be eligible and fulfil the minimum requirements on that account.
I just opened the FD saver yesterday. I have been with First Direct for 20 years, so don't know what the conditions are if you open a new current account now. I also have an old Nationwide Flexaccount, but I haven't been paying £750 into it every month, so can't open the regular saver... yet.
juniper
16 Jan 16#43
Thanks - and horses for courses. I was already a qualifying NW member and I would rather put £500 @ 5% than £300 @ 6% (and have to open a FD account to get it).
sam1970
16 Jan 16#44
According to interest calculator, if you pay £500 a month into this account, at 5% you will get about £165 in interest by the end of the year
MAXkMUS
16 Jan 16#45
Cheers Op :smiley:
LongPockets
16 Jan 16#46
I intend to do both, but will have to set up a transfer and wait a few months for Nationwide.
squiby
16 Jan 16#47
So invest 100k in me and ill give you 1.2mil in 2046. I have been looking to get a few ventures off the ground and you would be my ideal investor :smiley:
Neptonola
16 Jan 16#48
Thanks op. took all of about 2 minutes to open the account and bung £500 in
snoopy88
16 Jan 16#49
hmm snoopy18? I see :wink:
swblue
16 Jan 16#50
FTSE in 1999 was c.6950. Today it is c. 5800. Had to invest very wisely between these dates to have profited. Good spot OP. worth drip feeding into this. Better than the £400pm at 4% I did in Lloyds last year and as said, it will become tax free for most in April.
aym280
16 Jan 161#52
Not a lot of people like to take risks and look at the stock market now:
D
O
W
N
I would to gamble a bit, but my eyes well up looking at my shares, even though I haven't got a lot!
nodtomc
16 Jan 16#53
I was referring to a post where someone was talking about savings returns from a 1985 investment, and my inability to retroactively invest money, especially considering I wasn't born for another 5 years
Newbold
16 Jan 16#54
Don't forget the reinvested dividends if you're saving through something like an investment trust, in an ISA wrapper. Makes quite a difference to the overall figures.
dodoegg1
16 Jan 16#56
Off topic, I bank with nationwide and was moving money about last night, accidentally I paid something from the wrong flex account and went £150 overdrawn on the flex account (I only have a £100 overdraft limit on it). I immediately then transferred £200 in to the overdrawn flex account to settle the overdraft asap. Is it too late, Will they still charge me a bluddy overdraft fee?
COUPONKEV to dodoegg1
16 Jan 16#57
Highly unlikely if you corrected it within an hour. If they do just speak to the branch or the head office and explain the error, they may have discretion to reverse any fee once a year.
chocci to dodoegg1
17 Jan 16#63
You wont be charged anything. End of day balances are what matter when calculating interest and charges
Anything over 1 month can be reposted as a new deal....although usually they are expired before the deal is reposted.
winchman
16 Jan 16#60
Anyone offered anything when their deal for this account has ended? Just had my 12 months, want it to carry on.
chocci to winchman
17 Jan 161#65
Switch to m&s 6% saver and tsb 5% on 2k
I think m&s are currently offering £200 for a current account switch
Coulomb_Barrier
16 Jan 16#61
Someone correct me if I am imagining things, but I read somewhere that there is a £5/10 monthly charge from Nationwide each month you have this account? Wouldn't that wipe out all the interest earned unless you put in the maximum (or near to it) £500 each month?
chocci to Coulomb_Barrier
17 Jan 16#64
You're imagining it
v100v100 to Coulomb_Barrier
17 Jan 16#70
I have a Flexplus account. This does cost £10 a month but includes full breakfown cover with Britannia Rescue (covers me and my wife in any car and worth £100), mobile phone insurance which I used this month having sat on my Galaxy S4, and broke the screen, multi trip world wide travel insurance (worth loads if you travel) identity protection et al. The £10 pays for itself. Having this aacount allows me to have the regular saver which is a bonus.
Big A to Coulomb_Barrier
17 Jan 161#82
I agree, its costing me £120 just to have the account, that eats into the interest that i'll see at the end of the 12 months considerably?!?
I'm intending to invest £300 per month, thats £180 interest after 12 months, or £60 net
or am i missing something (likely ahaha)
dreamager
17 Jan 16#62
You can only pay in £500 a month
fossman
17 Jan 16#66
What I do is keep my Flex Direct account at the max limit for interest so it is always earning the 5% interest, when the £500 gets transferred to the regular saver each month I just top the £500 from another account.
Newbold to fossman
17 Jan 16#69
Shame the 5% only lasts for a year. :disappointed:
fkyfrankie
17 Jan 16#67
Not sure if anyone's answered this already I gave up looking in the comments and on the nationwide site.
1What's the maximum interest that can be earned and how much can I put in the start with?
2 can the £500 a month required come from my other bank account ?
thanx :wink:
sparkles5
17 Jan 16#68
heat, thanks op didnt know about this
leedslad83
17 Jan 16#71
Got one, great rate.
Also on a similar subject, Nationwide allow you to split your cash isa allowance across the new first time buyers isa (which the government gives up to £3k bonus on £12k) and their regular cash isa. This let's you use your full allowance.
tzac4
17 Jan 16#73
I recently opened this nationwide account-thanks OP! And also the first direct regular saver.
For anyone that already has these accounts... as you make the initial payment from your linked current account do you have to set up a standing order to pay into the regular savers or do they pull the money from the linked current accounts every month?
Thanks in advance.
Newbold to tzac4
18 Jan 161#86
Instead of bumping a question that nobody's answered, have you thought of taking a look at the Nationwide website, perhaps, or maybe even asking Nationwide? :neutral_face:
fat-pudding
17 Jan 16#74
This is a great deal for me, it means I can keep my emergency fund money (my fund for if the car goes bang, lose my job, need to travel on short notice etc.) close to hand and earn interest on it at the same time.
Daisy_D
17 Jan 16#75
SuperBen, I laughed loudly for a little longer than you'd expect. Perfect match for my humour.Thanks for that .x
DAMNOME
17 Jan 16#76
You can open this if you have a FlexOne account - but have to be over 18?
FlexOne can be had from 11 years for that's a senseless part.
fishmaster
17 Jan 16#77
I already did.
pantaiema
17 Jan 16#78
Regarding your first statement "Why would anyone save money in a bank, that is a completely hopeless return."
What is it all about then ??
High interest saving, will help people to elevate people to the next level of investing if they have not done so e.g. saving for deposit to purchase property. It is a much better return then long term invesment in Stock market.
grayjl
17 Jan 16#79
Hi to all readers. since leaving toe forces a "few" years ago, I have tried nearly all the differrrent banks (still one to go) presently Santander, there 123 system seems ok but % is not as one had hoped, then they decided to charge an annual fee for savings I was making (I thought it was too good to be true) Now the fee has gone form £3.00 to £5.00 so any small saving has almost depleted, no matter how lovely a certain runner is whom advertises them. I have aa appointment with TSB next week , looks like they will be my new one for a while at least...
If not already a member I suggest signing up for
#Martins Money Tips", Yes it is free!! one about the banks at the moment..
Gray
Haha, unfortunately not. This was planned downtime.
DAMNOME
17 Jan 16#83
£90 gross.
tzac4
17 Jan 16#84
Bumping my question :smiley:
Anyone know if for this (and the first direct regular saver) if you need to set up a standing order to fund it or if it draws from the linked current account?
Thanks in advance
chocci
18 Jan 161#85
There is no monthly fee on these savings accounts!
Wavod
18 Jan 16#87
Thanks OP. Now to find some money to save :smirk:
tzac4
18 Jan 16#88
Absolutely I have. FD possibly suggests that it's automatic. Nationwide didn't state anything. Haven't asked the banks directly given I'm working night shifts and it's the weekend. Also I thought that experience from members who might have done or be doing this deal would be absolute and the answer would be helpful for others choosing to open an account.
If I don't get an answer I will of course check it with the bank in due course.
Thank you for the suggestionsupervision however.
chocci
18 Jan 16#89
Obviously you have to set up a standing order from the linked account :confused:
Big A
18 Jan 16#90
You're right, i missed the fact you can also access their Regular Savers Account by using their FlexDirect account which has no monthly fee.
![Fresh Breakfast Meat Box (Using code) @ Campbells Meat [Haggis / Lorne Sausage / Bacon / Black Pudding & More]](/images/topics/208684_1.jpg)
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Opening post
If you are a Nationwide main current account customer*, our Flexclusive Regular Saver offers our highest instant access savings rate. Could this be just the encouragement you need to start saving?
Flexclusive Regular Saver lets you increase your balance by up to £500 each month for 12 months, with the reassurance of unlimited instant access to your money and easy management online, via our Mobile Banking app, or in branch.
Flexclusive Regular Saver is for individuals aged 18 or over who meet one of the following two criteria:
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 FlexDirect or FlexPlus account.
You can hold only one Regular Saver or Flexclusive Regular Saver account, which can be held in either sole or joint names. Only one account holder must meet the eligibility criteria.
Top comments
This rate is effective from 01-Dec-2015 only.
I just found out about this yesterday and opened it. Its showed on my online banking today and I posted here to share.
Excellent account and service - I claimed on the mobile phone insurance last month due to water damage - sorted within a week without any issue. Highly recommended
All comments (90)
This rate is effective from 01-Dec-2015 only.
I just found out about this yesterday and opened it. Its showed on my online banking today and I posted here to share.
http://www.hotukdeals.com/deals/nationwide-flexclusive-regular-saver-5-interest-for-a-year-max-500-a-month-do-offer-2339322
BTW, this custom HUKD search page is really useful http://hukd.garyrip.com/search/
Excellent account and service - I claimed on the mobile phone insurance last month due to water damage - sorted within a week without any issue. Highly recommended
Currency trading? Well I fully believe the people who are currency trading using £ as the basis will disagree with you.
Share / investing?? What about the people who are currency holding share in Oil, Emerging market??
P2P lending, well not worthy a risk if you could get similar or even a better return with high interest current account combined with Regular saver account without any risk at all.
Mind to tell your alternative ??
If I pay 500 in the first month I get 4% interest which is £20.
Then the next month I put another 500 in giving me 1020 (inc last months interest) which should give me £40 in interest.
Does it roll on like that each month for 12 months? I am sure I have got that wrong as it will mean you get in excess of £1.5k in interest?!
Still waiting for fishmaster to show a better deal; else assume they are just trolling
£10K invested @ 5% in 1985 £44,677.44
£10K invested in the stock market in a single Fidelity fund in 1985 £120,000 (fund now closed to new adopters)
Both the above are the theoretical, in fact one is true the other isn't, the first isn't as the rate hasn't been 5% continuously for 30 years. the second one is true.
Apologies for the massive off topic, but at least we are being civilised :-)
I must say I'm grateful and fortunate to be allowed the freedom of the western world, plenty of other people in this life are forced to accept even less than average.
You should of course reap better rewards over the long term and I am not disputing your figures but how many HUKD members do you think are likely to be investing for the long term? I would hazzard a guess that anyone savvy enough who wants to save money long term keeps well clear of HUKD because whilst it may save you a bob or two on last years tech it sure becomes addictive and drains every spare penny if you're not careful :smiley:
Good to have options. I have chosen the Nationwide route because my fingers have been burnt too many times on S&S over the years.
First Direct regular saver: 6pc - Minimum deposit £25, minimum monthly deposit £25 and maximum £300. Access on closure only during the 12-month term. You need to hold or open a First Direct current account to be eligible and fulfil the minimum requirements on that account.
I just opened the FD saver yesterday. I have been with First Direct for 20 years, so don't know what the conditions are if you open a new current account now. I also have an old Nationwide Flexaccount, but I haven't been paying £750 into it every month, so can't open the regular saver... yet.
D
O
W
N
I would to gamble a bit, but my eyes well up looking at my shares, even though I haven't got a lot!
http://www.hotukdeals.com/deals/nationwide-flexclusive-regular-saver-5-interest-for-a-year-max-500-a-month-do-offer-2339322
I think m&s are currently offering £200 for a current account switch
I'm intending to invest £300 per month, thats £180 interest after 12 months, or £60 net
or am i missing something (likely ahaha)
1What's the maximum interest that can be earned and how much can I put in the start with?
2 can the £500 a month required come from my other bank account ?
thanx :wink:
Also on a similar subject, Nationwide allow you to split your cash isa allowance across the new first time buyers isa (which the government gives up to £3k bonus on £12k) and their regular cash isa. This let's you use your full allowance.
For anyone that already has these accounts... as you make the initial payment from your linked current account do you have to set up a standing order to pay into the regular savers or do they pull the money from the linked current accounts every month?
Thanks in advance.
FlexOne can be had from 11 years for that's a senseless part.
"Why would anyone save money in a bank, that is a completely hopeless return."
What is it all about then ??
High interest saving, will help people to elevate people to the next level of investing if they have not done so e.g. saving for deposit to purchase property. It is a much better return then long term invesment in Stock market.
If not already a member I suggest signing up for
#Martins Money Tips", Yes it is free!! one about the banks at the moment..
Gray
http://www.nationwide.co.uk/support/ways-to-bank/service-availability
Anyone know if for this (and the first direct regular saver) if you need to set up a standing order to fund it or if it draws from the linked current account?
Thanks in advance
If I don't get an answer I will of course check it with the bank in due course.
Thank you for the suggestionsupervision however.