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Nationwide FlexAccount - Round the world travel
ambercelery
Posts: 51 Forumite
Hi
Myself and my girlfriend are setting off on a round the world trip in just over 3 months, We will be away for 6 months and we've seen on this website that in order to not get stung when we want to withdraw cash from a cashpoint in order to spend abroad, we should open a nationwide flexaccount.
I believe that this is a current account and therefore would mean that we have to make our salary paid into the account. What happens when we give up our jobs in order to go travelling? i.e. we will no longer have a steady income into the account - does this mean that we are not elligible for this current account - or will we get penalised for it? I've looked on the nationwide site but cannot find the information i am after.
Failing that, has anyone else used this account for this reason - or can you suggest anything else?
Many thanks
Myself and my girlfriend are setting off on a round the world trip in just over 3 months, We will be away for 6 months and we've seen on this website that in order to not get stung when we want to withdraw cash from a cashpoint in order to spend abroad, we should open a nationwide flexaccount.
I believe that this is a current account and therefore would mean that we have to make our salary paid into the account. What happens when we give up our jobs in order to go travelling? i.e. we will no longer have a steady income into the account - does this mean that we are not elligible for this current account - or will we get penalised for it? I've looked on the nationwide site but cannot find the information i am after.
Failing that, has anyone else used this account for this reason - or can you suggest anything else?
Many thanks
0
Comments
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I've just opened a Flex Account purely for overseas travel. There is no requirement to have any 'income' paid into the account.
As an aside, the speed with which the account was opened was very impressive. I applied Saturday lunchtime, and the account was fully operational by the following Friday (with cheque book, debit card, PIN & full online access).0 -
great account for cash i use often
The credit interest rate quoted is paid to all account holders who credit a minimum of £1,000 to their account per month. Account holders who credit their account with £500 to £999 will receive an interest rate of 1.25% AER/Gross p.a. Those customers who credit their account with less than £500 per month will receive an interest rate of 0.25% AER/Gross p.a. The interest rate is determined by the amount credited each month (excluding internal transfers from Nationwide accounts).
No minimum Required
taken from moneysupermarket.com0 -
Have used Nationwide current a/c and Nationwide credit card all over the world without any problems. I've been on the road for 14 months and this was fine.
What I did was dump most of my money into their E-Savings account, which is linked to the Flex a/c. Whenever I needed extra funds, would transfer across online, was done instantly.
If you don't get offered a debit card, you should get offered a cash card. This will allow you to take money out of ATM's for free as well.
For purchases I suggest you apply for a Nationwide credit card, as you will have s.75 like protections."An eye for an eye leaves the whole world blind" - Mahatma Gandhi0 -
hi.. me and my boyfriend both have flexaccounts although i only have the basic account with a cash card and my boyfriend has a cheque book and visa debit card with his.
I really like nationwide and am slowly transfering everything to them from hsbc. we are going away in july so glad that we can use the card abroad without getting stitched up for charges!0 -
Set up 2 accounts with them and transfer only what you need via tinternet cafe to the account with the card you will be taking with you, so that when you get FARC bandits armed to their yellow teeth sweating and needing a shave in Columbia (or where ever) walk you to an ATM with their silenced .38 snub digging into your ribs then you can show them your meagre ballance and give it them all, only to feed your account more when you are safe back behind your keyboard with a cool San Miguel bier fueling your email exploits to friends.0
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Does anyone know if they charge to transfer money into overseas accounts?
I have just used the debit card to withdraw cash abroad, but my bank here charges quite a bit to transfer cash to 3 foriegn bank accounts that I have, so was wondering if they charge for this service. I would think so. Have emailed them and tried ringing, but no answers as yet on this topic.
LLWe are all in the gutter but some of us are looking at the stars........................0 -
YorkshireBoy wrote:I've just opened a Flex Account purely for overseas travel. There is no requirement to have any 'income' paid into the account.
As an aside, the speed with which the account was opened was very impressive. I applied Saturday lunchtime, and the account was fully operational by the following Friday (with cheque book, debit card, PIN & full online access).
Yorkshireboy.
Did you apply online or thru a branch ?
I have left it rather late to get myself sorted for my holiday spending (the shame)
I have applied online on Tuesday - Go away next Thursday.
Did you have to send any paperwork etc back ?
Just wondered if I could speed it up a bit.
Billie
xx0 -
LilacLillie wrote:Does anyone know if they charge to transfer money into overseas accounts?
I have just used the debit card to withdraw cash abroad, but my bank here charges quite a bit to transfer cash to 3 foriegn bank accounts that I have, so was wondering if they charge for this service. I would think so. Have emailed them and tried ringing, but no answers as yet on this topic.
LL
Hi there, you can get a bank transfer from a UK account to an O/S account but it does cost a bit...sometimes up to £28..... What I did when in Oz was draw the max out of UK acc and then go into O/S bank and pay in.
If this is not for you, you need a SWIFT Transfer and will need the SWIFT code from O/S bank, to enable UK fund to be paid in.
HTH
Lightbulb Moment April 2006.Pay off All Debts by 31.12.2014.CC1: £5594, CC2: £164, OD1: £200,Total:£59580 -
I applied in branch.billie19 wrote:Yorkshireboy.
Did you apply online or thru a branch ?
I have left it rather late to get myself sorted for my holiday spending (the shame)
I have applied online on Tuesday - Go away next Thursday.
Did you have to send any paperwork etc back ?
Just wondered if I could speed it up a bit.
Billie
xx
I took in my ID but, because they were able to obtain sufficient information from my credit search (they said!), I didn't have to produce it.0 -
pin wrote:If you don't get offered a debit card, you should get offered a cash card. This will allow you to take money out of ATM's for free as well.QUOTE]
I applied for a Nationwide account last week and was only offered a cash card. Stupidly I didnt take it and said would try again in a few months. I'm travelling around the world in November this year and need to save as much as possible thus trying not to waste money on credit/debit card loading.
Should I try again and just accept the cash card and hope that I may be able to upgrade when abroad (as they said that they wouldnt touch the account again for 6 months). Or should I look into another bacnk account? Are there any other accounts beneficial for the round the world traveller?
Any help or advice on this would be great as slightly worried about it all.Current Debt Owed To Family: [STRIKE]£12,575[/STRIKE] £9,000 :wall:Estimated Debt Free... [STRIKE]Dec 2012[/STRIKE] Aug 2012
:xmassmileChristmas 2010 Sealed Pot Challenge #477 :xmassmile0
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