Nationwide FlexDirect Account
Comments
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Definitely a good point. I have just checked this year's transactions and my Nationwide SO frequently is posted at the weekend before my external funding which does not. I will need to change the date if I take the balance down to £1.
There will be at least one such occasion during the year, so instead of trying to catch it and eventually forget it it's much easier to set an incoming SO 3 days before the reg sav outgoing. This will cover the weekends and honestly £250 will not give you significant interest for 3 days wherever they stay.The journey of a thousand miles begins with one step.0 -
I can't see any requirement in the reg saver T&C to have to continue funding a Nationwide FlexAccount with £750+ per month beyond the initial 3 months prior to opening the reg saver?
I do fund my FlexAccount with £750 per month to retain the travel insurance otherwise I wouldn't need to (except in the preceding three months before opening a new reg saver when the existing one matures).0 -
Thanks, but I meant changing the date of my SO so it would apply every month not just for the compromised months.There will be at least one such occasion during the year, so instead of trying to catch it and eventually forget it it's much easier to set an incoming SO 3 days before the reg sav outgoing. This will cover the weekends and honestly £250 will not give you significant interest for 3 days wherever they stay.0 -
Yorkshire_Pud wrote: »I can't see any requirement in the reg saver T&C to have to continue funding a Nationwide FlexAccount with £750+ per month beyond the initial 3 months prior to opening the reg saver?
You've been looking at the "summary box"
look at the actual T&C's and you get.
Account holding and eligibility
1. The account is for individuals aged 18 or over who meet one of the following two criteria:
i) hold a FlexOne, FlexStudent, FlexDirect or FlexPlus account, or
ii) hold a FlexAccount and: • have been paying in £750+ a month for the last 3 months (excluding transfers from any Nationwide account held by you or anyone else);
or •
4 completed an account switch to us (from a non-Nationwide account) using our Current Account Switch Team in the last 4 months.
I am sure you could argue the point but is it worth it.0 -
ceredigion wrote: »You've been looking at the "summary box"
look at the actual T&C's and you get.
I am sure you could argue the point but is it worth it.
Yes I was looking at the actual T&C as stated in my post.
Whether its worth it or not is up to the individual who could decide not to pay in £750 a month after qualification and still have the regular saver for 12m.
Same as switching qualifies without any further need to switch every month.0 -
I'm in the same boat at the OP but am considering changing the account to the Flexplus. No need for any regular payment, 3% on £2500 and able to keep the regular saver. Sure there's a £13 fee but if you keep the £2,500 balance it will reduce that by £6.25pm and roughly the same for the regular saver. So, you're getting your worldwide Travel, breakdown and mobile phone for next to nothing. Seems like a no-brainer to be honest.0
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Be aware if you go to Flexplus, you CANT then go back to flex direct & still get European TI, its lost forever, disgusting I know but thats the rules. Aparrantly its a right song& dance to downgrade as well.0
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That's a surprise to me. I went from FlexPlus to Flex-direct without any problems whatsoever in February. I'm not envisaging any problems reversing the journey. Having said that it's not a biggie, I understand Nationwide have dropped the amount you can put in to the regular saver down from £500pm to £300pm so not such a great pull.
To be honest I think we may have turned the corner savings wise so wont be jumping in too quickly when they announce another rise.0 -
Deleted_User wrote: »That's a surprise to me. I went from FlexPlus to Flex-direct without any problems whatsoever in February. I'm not envisaging any problems reversing the journey. Having said that it's not a biggie, I understand Nationwide have dropped the amount you can put in to the regular saver down from £500pm to £300pm so not such a great pull.
To be honest I think we may have turned the corner savings wise so wont be jumping in too quickly when they announce another rise.
Your understanding is incorrect;)
https://www.nationwide.co.uk/products/savings/flexclusive-regular-saver/features-and-benefits0 -
Yorkshire_Pud wrote: »Yes I was looking at the actual T&C as stated in my post.
Whether its worth it or not is up to the individual who could decide not to pay in £750 a month after qualification and still have the regular saver for 12m.
Same as switching qualifies without any further need to switch every month.
My interpretation of the T&C's is, To remain eligible to hold the account you need to have paid in at least £750 per month for the proceeding three months0
This discussion has been closed.
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