Nationwide Flexdirect

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  • Futuristic
    Futuristic Posts: 1,127 Forumite
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    I opened a FlexAccount one month before my FlexDirect account matured (at the same time I opened the reg saver) and then closed my FlexDirect account once matured. My 5% saver still remains active.
  • wakeupalarm
    wakeupalarm Posts: 1,101 Forumite
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    Do NW send you any online notification when the 5% rate drops to 1% or do you just wait until the anniversary of when you opened the account and assume the rate has dropped?
  • john1002
    john1002 Posts: 984 Forumite
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    I got letter and email about 2 months before it reduced to advise.

    So you will be notified.

    John
  • Defoe
    Defoe Posts: 616 Forumite
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    Imagine being on your deathbed and thinking about how you spent your life. Where does arguing about 5% or 1% of £2,500 feature in your proud achievements?
    Still cracking on....
    Wins in 2019: 28 prizes realised value £278:eek:
    Wins in 2018: 59 prizes realised value £1,818:coffee:
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  • MABLE
    MABLE Posts: 4,080 Forumite
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    Defoe wrote: »
    Imagine being on your deathbed and thinking about how you spent your life. Where does arguing about 5% or 1% of £2,500 feature in your proud achievements?

    Well a lot to me.
  • ToTo_Man
    ToTo_Man Posts: 126 Forumite
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    edited 4 October 2016 at 12:42PM
    Jds wrote: »
    I wonder if anyone can help me... 1st time poster so please be gentle��

    Me and the other half have just opened a FlexDirect a/c in joint names and also intend to do the monthly saver together for the full £500 per month. My question is - After the twelve months of 5% on both these products is it possible to downgrade the joint FlexDirect a/c for the twelve months waiting period until being able to go again. But while this 12 month wait is going on open two more flexDirect accounts as individuals and have two monthly savers going. Then after 12 months start again by upgrading the previously downgraded with the joint account for the cycle to start again?

    Thank you in advance for any thoughts....

    Did you ever get an answer to this, jds? I'm in a similar (but simpler) predicament. I have a FlexDirect in joint-names that has just come to the end of the 12 month 5% promotional rate. Given that my existing FlexDirect is held in joint-names, can I open a new FlexDirect in single name and qualify for the 5% on it immediately, or do I still need to wait 12 months?
  • youngretired
    youngretired Posts: 581 Forumite
    First Anniversary First Post Name Dropper
    A person can hold a joint and a sole FlexDirect and get the 5% interest rate. These can either be held at the same time or like yourself start the sole when the joint finishes. I've done this for the last 3 years and the interest is always paid OK.
  • xylophone
    xylophone Posts: 44,295 Forumite
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    Well a lot to me.

    Enough interest accumulated to pay for the funeral ( or make the heirs happy)..?:)
  • xnoxxnox
    xnoxxnox Posts: 95 Forumite
    First Anniversary Combo Breaker First Post
    I had flexdirect 12 months ago, sans 10 days. At the time converted to flexplus. In ten days will ask to convert it back to flexdirect. I guess you could have changed it to just "Flex Account" too. No, the fact that rate reverts to 1% is still the same product which you still hold. When you opened a second flexdirect it should have got 1% rate, they just missed it (obviously not an automated thing).
  • Ed-1
    Ed-1 Posts: 3,886 Forumite
    First Anniversary Name Dropper First Post
    xnoxxnox wrote: »
    I had flexdirect 12 months ago, sans 10 days. At the time converted to flexplus. In ten days will ask to convert it back to flexdirect. I guess you could have changed it to just "Flex Account" too. No, the fact that rate reverts to 1% is still the same product which you still hold. When you opened a second flexdirect it should have got 1% rate, they just missed it (obviously not an automated thing).

    I maintained my FlexDirect account for over a year after the 5% ended and in mid-September rang to covert to FlexAccount then upgraded back to FlexDirect the next day. I sent a secure message to them the other day querying what rate I am currently getting. They confirmed that there has been a change of policy and as long as you haven't had the 5% on a FlexDirect account for the last year you will get it again for a further year if you open (or upgrade an account to) a FlexDirect, hence I'm getting 5% again.
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