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  • izools
    * Up to5,000 overdraft - 50p per day - 15.50 per month.
    Originally posted by macfamilyent
    I don't know if it counts true for the FlexDirect Plus but shortly after I switched from a Flex Account to Flex Direct, I had to increase my OD limit to 5,000 as my car fell flat on it's face (automatic gearbox) so had to replace it double quick (I have a severely disabled partner and work in another county).

    I was over 4,000 overdrawn for a few weeks, and my total charge, 0.00.

    I queried whether I would get charged at any point in the future but they said the OD was fee and interest free for three months - even as an existing customer upgrading!

    Awesome interest rate that, well chuffed
    Cashback Earned Nectar Points 68 Natoinwide Select 62 Aqua Reward 100 Amex Platinum 48
    • guesswho2000
    • By guesswho2000 5th Mar 13, 6:35 PM
    • 1,398 Posts
    • 653 Thanks
    guesswho2000
    Err No its not what you know its who you know!
    Originally posted by BugsyBrowne
    To be fair he was right about the improved FlexDirect offering...

    And +1 intrigued about the foreign usage. Depends on the full detail I suppose, but I'll definitely be keeping my eyes open. I'd open the FlexDirect if I wasn't still pouring my cash into their 6% reg saver.
    • guesswho2000
    • By guesswho2000 5th Mar 13, 6:37 PM
    • 1,398 Posts
    • 653 Thanks
    guesswho2000
    Does make me wonder if they're planning to axe the free travel insurance on Flexaccounts at some point though...they seem to be trying to entice people away from that account.
  • rb10
    I'd open the FlexDirect if I wasn't still pouring my cash into their 6% reg saver.
    Originally posted by guesswho2000
    FlexDirect still gives you eligibility to both the 6% regular saver and 4.25% ISA.
    • guesswho2000
    • By guesswho2000 5th Mar 13, 7:41 PM
    • 1,398 Posts
    • 653 Thanks
    guesswho2000
    FlexDirect still gives you eligibility to both the 6% regular saver and 4.25% ISA.
    Originally posted by rb10
    Unfortunately I was referring to the fact I don't have a random 2,500 outside of the reg saver, depleted my savings buying a house last year

    I'm wondering if they'll pull it though, as I'd like to have the 5% account there for in a few months time (change of circumstances means I should have more spare cash soon) but don't want to waste the 5% for 12 months period unnecessarily...
  • macfamilyent
    Hello,
    My apologies for my miss-typing, It's UN-limited free atm usage abroad.
    In terms of the overdraft, the lady on the phone says that it is not a 10 cap and she was certain it would be 15.50 for this account.

    I got this information from calling the service line @ Nationwide after 8pm, when the sales team (who won't detail any information about this account) and the lady was reading from her paper notes - which she had got from what she called 'a product enrichment' session on this new account.

    However, she said that it had 6 days to launch (from Yesterday) and that they can't be certain about all the benefits, until launch day.

    She said the majority of the benefits will be provided by Lifestyle Services Group Ltd, which I believe provides benefits for other banks - including Barclays, and the CO-Operative.

    I hope this helps and many apologies for any confusion caused in my previous post.
    Thank you all for helping me make my day by saving money!
    • guesswho2000
    • By guesswho2000 5th Mar 13, 10:15 PM
    • 1,398 Posts
    • 653 Thanks
    guesswho2000
    Hello,
    My apologies for my miss-typing, It's UN-limited free atm usage abroad.
    In terms of the overdraft, the lady on the phone says that it is not a 10 cap and she was certain it would be 15.50 for this account.

    I got this information from calling the service line @ Nationwide after 8pm, when the sales team (who won't detail any information about this account) and the lady was reading from her paper notes - which she had got from what she called 'a product enrichment' session on this new account.

    However, she said that it had 6 days to launch (from Yesterday) and that they can't be certain about all the benefits, until launch day.

    She said the majority of the benefits will be provided by Lifestyle Services Group Ltd, which I believe provides benefits for other banks - including Barclays, and the CO-Operative.

    I hope this helps and many apologies for any confusion caused in my previous post.
    Originally posted by macfamilyent
    Either way, the terms and conditions I referred to earlier for the overdraft specifically said FlexPlus, 10 monthly cap on fees and were from the nationwide website...if you go to the NW site and search for FlexPlus, they're there.
  • Gromitt
    In terms of the overdraft, the lady on the phone says that it is not a 10 cap and she was certain it would be 15.50 for this account.
    Originally posted by macfamilyent
    But then again, they are saying there is a 5 charge on the FlexDirect account for underfunding, when the T&Cs state no such charge.

    So it seems that whatever question you ask the customer services staff, it appears that they give you a random answer.
  • Moby_Tide
    Watch this space presumably

    http://www.nationwide.co.uk/flexplus/faqs.htm


    there are also google links appearing to the overdraft T&Cs for the FlexPlus account
  • noh
    Either way, the terms and conditions I referred to earlier for the overdraft specifically said FlexPlus, 10 monthly cap on fees and were from the nationwide website...if you go to the NW site and search for FlexPlus, they're there.
    Originally posted by guesswho2000
    Link here http://www.nationwide.co.uk/internetbanking/forms/pcci_0000007005.htm
  • macfamilyent
    Well perhaps she was wrong - but I don't know -because I specifically asked about the overdraft features. since that is a benefit of the Barclays Additions Plus account.

    BTW this account has full branch and phone access - it is not a 'direct' self-service only account!
    Thank you all for helping me make my day by saving money!
  • Chorlie
    http://www.dailymail.co.uk/news/article-2290625/Nationwide-Is-end-free-banking-Britains-biggest-building-society-charge-10-month.html


    QUOTE:-

    Significantly, the account pays an attractive interest rate of 3per cent on credit balances up to 2,500.

    Customers will be able to arrange an overdraft which does not carry any fee for the first three months after opening their account. After that period, there will be no fee for those who go 100 into the red.

    Other perks include worldwide travel and mobile phone insurance, car breakdown cover for the UK and Europe, plus extended warranty protection on major purchases.



    So at 10 a month that's 120 less the 60 (75 - 3% interest minus tax) means the account costs 60 (5 a month)....
    Last edited by Chorlie; 09-03-2013 at 7:42 PM.
  • innovate
    Absolutely dreadful journalism once again from the Daily Mail - -- not one mention of the FlexDirect, as an alternative from the same stable, in this article.

    Nor any mention that it's just another packaged account, the kind of which has been in the market for ages.

    Plus basically no analysis of the kind you did, that would perhaps show that some people would find this account a good deal.

    Just sheer sensationalism about the looming end of free banking (as if there was any free banking, anyway).
  • callum9999
    Absolutely dreadful journalism once again from the Daily Mail - -- not one mention of the FlexDirect, as an alternative from the same stable, in this article.

    Nor any mention that it's just another packaged account, the kind of which has been in the market for ages.

    Plus basically no analysis of the kind you did, that would perhaps show that some people would find this account a good deal.

    Just sheer sensationalism about the looming end of free banking (as if there was any free banking, anyway).
    Originally posted by innovate
    There is such a thing... Unless you're defining free banking as being anything you could possibly want without charge, which is rather pedantic!
  • simax
    Seeing it'll cost 14 a month to insure my mobile with my provider, this is a bargain!
    I say it as it is - you may not like that but what would you prefer? A string of false platitudes that are no help whatsoever just to make you feel better? If my advice has helped, please press the Thanks button over here ----------------V. Cheers
  • innovate
    There is such a thing... Unless you're defining free banking as being anything you could possibly want without charge, which is rather pedantic!
    Originally posted by callum9999
    No, that's not how I am defining free banking. We are all paying for our banking - - either explicitly through charges (published by all banks), or by receiving mediocre or no interest.

    Just because our statements don't show a monthly account fee, or charges per transaction etc doesn't mean we haven't always been paying each and every penny that the administration of our accounts cost. Surely there is nobody in this world who thinks banks have ever been giving us anything for free?
  • Chorlie
    Absolutely dreadful journalism once again from the Daily Mail - -- not one mention of the FlexDirect, as an alternative from the same stable, in this article.

    Nor any mention that it's just another packaged account, the kind of which has been in the market for ages.

    Plus basically no analysis of the kind you did, that would perhaps show that some people would find this account a good deal.

    Just sheer sensationalism about the looming end of free banking (as if there was any free banking, anyway).
    Originally posted by innovate


    It's the standard you get from the Daily Mail, its the END of everything with the Daily Mail, even thou you can still have a simple current account with the Nationwide in their Flex Account or a current account that pays some interest with their Flex Direct, so this is just another type of current account as in fee paying and they give you extra, so it's a case of deciding which fits your needs the best. It seems to me that Nationwide are trying to cover most bases.

    I have a fee paying account which gives European Breakdown Cover, Worldwide Travel Insurance, Mobile & Gadget Insurance and a few other things for 7.50; it seems like a good deal, but I got a years Breakdown cover with my new car, which was extended for another year free of charge with my service (ok not free since its factored into the servicing costs) and I haven't been overseas for over 2yrs, so therefore even at 7.50 its costing more than its saving me....and it doesn't pay any interest & charges if I go overdrawn. Nothing is free, it has to be paid for either by you or the next person.

    The only reason I posted the link was to confirm the original posters comments....
    Last edited by Chorlie; 09-03-2013 at 10:23 PM.
  • innovate
    The only reason I posted the link was to confirm the original posters comments....
    Originally posted by Chorlie
    Apologies if my comments came over as criticism about you - -- that's absolutely not what I had intended, or what would be in order!

    Just needed to have a good rant about this DM article which is just such bad journalism. As you rightly say, Nationwide has a whole range of current accounts that serve the needs of just about anyone one can think of - - - starting from the cashcard basic account one end to the FD Plus the other. Why the DM can't cover it like that, and instead spin it to something irrelevant, is just beyond comprehension.
  • JulyKnot
    FlexDirect still gives you eligibility to both the 6% regular saver and 4.25% ISA.
    Originally posted by rb10
    Where is this on the website? I used to have a regular saver ( can't remember the rate) but it's not in my internet banking anymore so maybe I closed it when I emptied the account.
  • innovate
    Where is this on the website? I used to have a regular saver ( can't remember the rate) but it's not in my internet banking anymore so maybe I closed it when I emptied the account.
    Originally posted by JulyKnot
    The 6% Reg Saver and the 4.25% ISA have long been closed for new applications. But people have existing accounts, which pre-req a prperly fundend Flexaccount or a FlexDirect throughout the life of the accounts.
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