Nationwide Flexdirect

If someone switches to a Nationwide account to get the referral payment do the direct debits etc have to be in place for a specific time. When house is sold many will terminate.

Cezzy wrote: »

If someone switches to a Nationwide account to get the referral payment do the direct debits etc have to be in place for a specific time. When house is sold many will terminate.

No, but advice given on this board is to wait until at least one payment has been collected for each DD.

I had a FlexDirect account paying 5% until March this year whereupon I closed it. I then read about some people opening a new FD before the 12 month re qualification period expired and them saying they got 5% again so I opened a new FD after one month and got.......1%.

So I closed the new FD account.

So I now have two potential 12 month anniversary dates, and with the conflicting information here I think to make sure I re qualify for the 5% rate I will have to wait until after the second account closure anniversary otherwise I risk extending the waiting period by yet another 12 months.

That's going by the T&C but not the 'secret' T&C that are being presented alongside the normal T&C.

Confused:(

These are the edited secure messages between me & Nationwide:

12/10/16 PM
I understand that, if a FlexDirect account has not had interest @ 5% for over 12 months, it is possible to start earning 5% again providing £1000 is paid in every month from outside Nationwide. This is apparently a recent change but your T&Cs have not been updated to reflect this. Can you please confirm this is the case. Thank you


13/10/16 AM
Hello xxxx
Thank you ever so much for your message, I hope you're enjoying your week so far!

You are correct, as long as your FlexDirect has not had 5% interest within the last 12 months, as soon as you start putting the £1000.00 each month you will be gaining the 5% interest.

I hope this helps and if you have any further questions, please don't hesitate to reply directly to this message or give our customer service centre a call on 0800302011 if abroad please call +441793656789.

All the best,
yyyy
Customer Consultant
Digital Servicing
http//:https://www.nationwide.co.uk


13/10/16 AM
Thank you yyyy That is great news. I hope your T&C will be updated to reflect this. Have a good day!


13/10/16 PM
Hello xxxx,

Thank you for getting in touch with me today.
I have passed your comments onto our website team, as this is a very recent change to our Terms and Conditions, this will need to be updated.

I hope you enjoy the rest of your week xxxx and should you have any further questions at all, please do not hesitate to reply to this message or call us on 0800 302011. If abroad, please call +44 1793 656789

Best wishes
zzzz
Customer Consultant, Digital Service
http://www.nationwide.co.uk

Only the names have been changed to protect the innocent:p

dggar wrote: »

An article on the Guardian web site dates 13th Oct gives the impression that two DDs are now required for the FlexDirect account. It's not clear whether this is only for new accounts or applies to existing accounts.


I wonder what the situation would be for an account that has been open for more that 12 months since it stopped paying 5% and is now reactivated to pay 5% by depositing £1000.

No DDs are required. I saw that article too and it's wrong.