InvestDirect Key Product Information
This Key Product Information gives you information that is specific to the particular savings account you have with us. It forms part of the terms and conditions of your account and needs to be read together with the other documents that make up your agreement. If anything is inconsistent between those documents and this Key Product Information, this Key Product Information will apply.
- The account is only available to those aged 18 and over.
- The account can have a maximum of two account holders.
- The minimum initial deposit is £100.
- The maximum deposit and balance in the account is £5 million.
- The account cannot be opened or operated through any of our branches.
- The interest rate payable on the account is variable. From time to time, the account may have tiered interest rates, based on the balance in your account. Where this is the case, the interest rate payable on each tier is variable. When the balance in your account changes, taking you into a different tier, the interest rate for the new tier will be applied automatically.
- Interest is paid to the account on 30 September each year or it can be paid directly to a Nationwide savings account (excluding Regular Savings) or a current account with us or any other provider.
Paying money in
- Cash deposits will only be accepted in Nationwide cash machines. We do not accept any liability for cash sent by post.
- Credits must be made by post using the envelopes and stationery provided or addressed to Direct Savings, Nationwide Building Society, Nationwide House, Pipers Way, Swindon SN38 3FN. You must quote your account number on all correspondence. Failure to do this may lead to delays.
Taking money out
- Requests for withdrawal cheques must be made by post using the envelopes and stationery provided or addressed to Direct Savings, Nationwide Building Society, Nationwide House, Pipers Way, Swindon SN38 3FN. You must quote your account number on all correspondence. Failure to do this may lead to delays.
- We aim to process all instructions received on any working day (excluding weekends and bank holidays) within 2 working days. We will use first class post but this does not guarantee next day delivery. We will not be liable for delays due to circumstances outside our control including postal delays.
- You must phone us or tell your local branch to place a stop on a cheque, if lost or stolen. We reserve the right to refuse to place a stop on a cheque and may request a form of indemnity to be completed by you.
- Standing order, Direct Debit, CHAPS and overseas electronic transfer withdrawals cannot be made from the account.
Important related links
Protecting your money
The Financial Services Compensation Scheme (opens in a new window) (FSCS) is a free, independent service that protects up to £85,000 of your eligible money at Nationwide.