Sure always happy to help, I can PM you my bank details :smiley:

i recommend the flexplus bank account for £10/month. stick £2500 in the account, earn a market leading £6/month interest so net cost is only £4/month. This £4 gets you car breakdown cover, worldwide travel insurance, mobile phone cover and an extra year warranty on certain household purchases. use refer a friend and earn £100 each also. all in all its exceptional value and meets the eligibility criteria for the regular saver on this post without needing £750 deposited each month. superb account and service - ive used the phone insurance for water damage once and breakdown cover for flat tyres twice and service was great

The account automatically closes and transfers the funds to another account with a much lower interest rate (0.25% or 0.5%). You can open another one again, as I have done, and transferred the matured funds to a higher interest account. Loyalty Saver 15 pays 0.95%, not great but not short of what is available elsewhere for instant access.

Don't want to be a deal spoiler, but this has been around for years. I am on my second or third year of doing this. Still a good deal for anyone who does not know about it.

% regular savings for Nationwide main account holders. Unlike some banks which limit monthly deposits to £250, Nationwide let their customers save £500 a month so you could get £6,000 in here over a year.

More info
To be added

Don't want to be a deal spoiler, but this has been around for years. I am on my second or third year of doing this. Still a good deal for anyone who does not know about it.

It's good for regular saving, however if you have a lump sum the interest averages around 2.3 % over the year.

My mum opened up one of these last year and the 5% introductory rate ends soon and I was wondering what happens next. From what I recall the interest rate drops to 2.xx% so do you have to cancel the account and open a new one or is it just an introductory offer only ?

Sorry, I did not wish to sound negative, I did acknowledge that it would be helpful for anyone who was unaware of this.

No worries :smiley:

Hey since from your comment below.

Can I also ask what rate do you receive now?

And I'm guessing this 5% is currently the best rate for savings in UK?


I currently have a Barclays account which I would like to keep.


However I want this 5% savings offer.

Is it possible to do:

Rather than closing my Barclays account, open this new nationwide. But do a direct debit transfer of £1300 every month from Barclays to Nationwide?

Or do I have to close my current account?

excellent account even though it's only for 12 months. If you managed to save £500 every month then you will save £162 after 12 months in gross interest. I am in my 3rd year with this account.
After 12 months you need to close this saver account and you can open a new saver account with 5% interest until unless you are still a nationwide current account holder.
You don't have to close any previous accounts with other banks to fulfill the £1000 per month pay in criteria. You can set up a standing order or transfer online from other accounts.

Also nationwide offers a limited access account with a interest rate of 2.25%. You can save up to £50000 in that account. Only issue with that account is that you have to open in your kids name as a saving account and you can only make one withdraw per year. If you do withdraw money more than once, interest rate will be 0.05%.

Hope it helps.

I am not sure of exact details of the Nationwide deal as I have been with them for many years, and as I do all my banking with them I automatically qualify for this account.
To qualify as a main current account customer, you must:
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 three months (excluding internal 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
Found the above on their website. Interest rate dropped to 0.5% or 0.25%. But you can move this anywhere you like, and open a new 5% account.