Nationwide Building Society has created a new regular savings account, exclusive to current account customers, with a top rate of eight percent AER/gross. The new move comes alongside a market-leading bank switching incentive, which will see those who switch to a Nationwide account receive a payment of £200. That's why we are offering new and existing current account customers a top-of-market £200 a year if they switch their main banking relationship to the Society, Riley said. We're also rewarding our current account customers with a market-leading rate of eight percent AER on our Flex RegularSaver. We believe this is a further demonstration of the difference of being a member of a modern, member-owned organisation.
for 12 months. The online managed account can provide up to three withdrawals within the 12 months after the account opening, making it possible for consumers to save up to £200 per calendar month. The Flex RegularSaver is only available to customers holding one of the society's current accounts, which includes the FlexPlus, FlexDirect, FlexAccount, FlexGraduate, FlexBasic, FlexBasic or FlexOne.
The customer can only open one Flex RegularSaver account, either as an individual or as a joint account. To qualify for the bank switch incentives offered by Nationwide, customers must complete a full switch using the current account switch service. In order to transfer a minimum of two active direct debits to a new account, you must first have two active direct debits. A new account can be opened on Nationwide's website or via the internet bank or mobile banking app, and the switch can be requested as part of the application. By using the Internet Bank, existing customers can transfer a current account they hold with another provider to an existing account they hold with the Society.
It should be pointed out, however, that the switch must be completed within 60 days of request. Users can switch to one of the company's three main current accounts, the FlexPlus, the Flex Direct, or the Flex Account. The Flex Plus is a bundle with benefits such as worldwide family travel insurance, mobile phone insurance, UK and European breakdown cover, and commission-free usage abroad for a monthly fee of £13 per month. The FlexDirect is an online account paying five percent AER credit interest and offering an interest-free overdraft for the first 12 months. For no fee, customers can bank online and in-branch at the FlexAccount, a daily bank account.