Nationwide Flex Direct Plus.
Comments
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http://www.dailymail.co.uk/news/article-2290625/Nationwide-Is-end-free-banking-Britains-biggest-building-society-charge-10-month.html
QUOTE:-
Significantly, the account pays an attractive interest rate of 3per cent on credit balances up to £2,500.
Customers will be able to arrange an overdraft which does not carry any fee for the first three months after opening their account. After that period, there will be no fee for those who go £100 into the red.
Other perks include worldwide travel and mobile phone insurance, car breakdown cover for the UK and Europe, plus extended warranty protection on major purchases.
So at £10 a month that's £120 less the £60 (£75 - 3% interest minus tax) means the account costs £60 (£5 a month)....0 -
Absolutely dreadful journalism once again from the Daily Mail - -- not one mention of the FlexDirect, as an alternative from the same stable, in this article.
Nor any mention that it's just another packaged account, the kind of which has been in the market for ages.
Plus basically no analysis of the kind you did, that would perhaps show that some people would find this account a good deal.
Just sheer sensationalism about the looming end of free banking (as if there was any free banking, anyway).0 -
Absolutely dreadful journalism once again from the Daily Mail - -- not one mention of the FlexDirect, as an alternative from the same stable, in this article.
Nor any mention that it's just another packaged account, the kind of which has been in the market for ages.
Plus basically no analysis of the kind you did, that would perhaps show that some people would find this account a good deal.
Just sheer sensationalism about the looming end of free banking (as if there was any free banking, anyway).
There is such a thing... Unless you're defining free banking as being anything you could possibly want without charge, which is rather pedantic!0 -
Seeing it'll cost £14 a month to insure my mobile with my provider, this is a bargain!I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂0
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callum9999 wrote: »There is such a thing... Unless you're defining free banking as being anything you could possibly want without charge, which is rather pedantic!
No, that's not how I am defining free banking. We are all paying for our banking - - either explicitly through charges (published by all banks), or by receiving mediocre or no interest.
Just because our statements don't show a monthly account fee, or charges per transaction etc doesn't mean we haven't always been paying each and every penny that the administration of our accounts cost. Surely there is nobody in this world who thinks banks have ever been giving us anything for free?0 -
Absolutely dreadful journalism once again from the Daily Mail - -- not one mention of the FlexDirect, as an alternative from the same stable, in this article.
Nor any mention that it's just another packaged account, the kind of which has been in the market for ages.
Plus basically no analysis of the kind you did, that would perhaps show that some people would find this account a good deal.
Just sheer sensationalism about the looming end of free banking (as if there was any free banking, anyway).
It's the standard you get from the Daily Mail, its the END of everything with the Daily Mail, even thou you can still have a simple current account with the Nationwide in their Flex Account or a current account that pays some interest with their Flex Direct, so this is just another type of current account as in fee paying and they give you extra, so it's a case of deciding which fits your needs the best. It seems to me that Nationwide are trying to cover most bases.
I have a fee paying account which gives European Breakdown Cover, Worldwide Travel Insurance, Mobile & Gadget Insurance and a few other things for £7.50; it seems like a good deal, but I got a years Breakdown cover with my new car, which was extended for another year free of charge with my service (ok not free since its factored into the servicing costs) and I haven't been overseas for over 2yrs, so therefore even at £7.50 its costing more than its saving me....and it doesn't pay any interest & charges if I go overdrawn. Nothing is free, it has to be paid for either by you or the next person.
The only reason I posted the link was to confirm the original posters comments....0 -
The only reason I posted the link was to confirm the original posters comments....
Apologies if my comments came over as criticism about you - -- that's absolutely not what I had intended, or what would be in order!
Just needed to have a good rant about this DM article which is just such bad journalism. As you rightly say, Nationwide has a whole range of current accounts that serve the needs of just about anyone one can think of - - - starting from the cashcard basic account one end to the FD Plus the other. Why the DM can't cover it like that, and instead spin it to something irrelevant, is just beyond comprehension.0 -
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Where is this on the website? I used to have a regular saver ( can't remember the rate) but it's not in my internet banking anymore so maybe I closed it when I emptied the account.
The 6% Reg Saver and the 4.25% ISA have long been closed for new applications. But people have existing accounts, which pre-req a prperly fundend Flexaccount or a FlexDirect throughout the life of the accounts.0 -
Seems like a reasonable enough offering for £10
I have a packaged account elsewhere and get
£500 interest free OD
10% off Flights
25% off Ticketmaster tickets
Accidental Death Insurance
Mobile Phone Insurance
European Travel Insurance
for £9 a month with Ulsterbank.
I've saved over £200 using the ticketmaster one alone this year.
The mobile phone insurance company turned out to be rubbish, but they are changing it to the Carphonewarehouse one this Month0
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