Referring to Nationwide

radoslaff · 15 November 2017 at 10:29PM

Hello,

I have a very speciffic question regarding the Nationwide referring scheme. The situation is as follows:
I have a 9 months old FlexDirect account which will mature in the middle of February. From the last thread on the subject I understood that I can refer my wife and so she will hopefully be able to open a new FlexDirect. After that she can refer me and here come my questions. Will I be able to open a joint account with her by switching my PERSONAL account from Tesco and still be eligible for the £100 each incentive? I want to explore only this option because I don't want to close my current account in February as it has a FlexRegSaver attached to it. Thank you for reading this messy explanation.

clivep · 16 November 2017 at 12:41PM

radoslaff wrote: »

Hello,

I have a very speciffic question regarding the Nationwide referring scheme. The situation is as follows:
I have a 9 months old FlexDirect account which will mature in the middle of February. From the last thread on the subject I understood that I can refer my wife and so she will hopefully be able to open a new FlexDirect. After that she can refer me and here come my questions. Will I be able to open a joint account with her by switching my PERSONAL account from Tesco and still be eligible for the £100 each incentive? I want to explore only this option because I don't want to close my current account in February as it has a FlexRegSaver attached to it. Thank you for reading this messy explanation.

You can refer your wife and she can then open a new FlexDirect straight away (although you'll only get the £100 each if she then switches with 2 DDs).

As soon as her FlexDirect is open (no need to wait for switch/incentive payment) she can recommend you and you can open a joint FlexDirect and get another £100 each (subject to switching terms of course).

I can confirm from personal experience that this works and have received the £400. In my case I used my FlexAccount for the initial referral and opened my sole FlexDirect after receiving the incentives. I don't think this qualifies for a third payout but you never know...

Why close your existing FlexDirect in February? By maturing I assume you mean the interest rate dropping from 5% to 1% if still £1000/month paid in. You don't have to pay anything in if you just want to keep being eligible for the Flexclusive Regular Saver. The new t's & c's for the FlexDirect will stop you getting 5% again so there's no real need to close it.

Mogley · 16 November 2017 at 12:51PM

I think in principal the answer is yes (clivep has first hand experience) however I would explore it slightly differently to avoid mistakes or amiguity.
You refer your wife and she swaps her personal account. £100 each.
She refers you and you switch your personal Tesco account to your existing FD account. £100 each.
Open a FD joint account independently of the refer a friend bonus to enjoy it's benefits.
You can each have one personal and one joint FD account (3 in total) so no need to close your original account.
However, in February (or 90days after receiving your switch bonus if this is the latter), you will have the option to switch out of your personal FD account because your joint account will be enough to keep eligibility for the FlexRegSaver.

radoslaff · 21 November 2017 at 10:32PM

So am I right to think that once my ife switches and refers me I can switch my Tesco account to my 9 months old FlexDirect and still qualify for the £100 each? It's good to know that. I had never thought it had been possible. Thanks a lot. I gave a Thank you to both of you.

Referring to Nationwide

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