Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • MSE Megan F
    • By MSE Megan F 27th Jun 17, 2:32 PM
    • 128Posts
    • 43Thanks
    MSE Megan F
    MSE News: Nationwide to hike fee on flagship packaged bank account
    • #1
    • 27th Jun 17, 2:32 PM
    MSE News: Nationwide to hike fee on flagship packaged bank account 27th Jun 17 at 2:32 PM
    Nationwide is to overhaul its FlexPlus packaged bank account, increasing the fee from £10/mth to £13/mth and improving the insurance it offers but scrapping some perks, MoneySavingExpert.com can reveal...
    Read the full story:
    'Nationwide to hike fee on flagship packaged bank account - is it still worth it?'

    Click reply below to discuss. If you haven’t already, join the forum to reply.
    Last edited by MSE Luke; 29-06-2017 at 10:11 AM.

    Follow the Forum on Twitter, Instagram and Pinterest
    Join the MSE Forum
    New forum user? Watch our New to the Forum? Youtube guide
    Get the Free Martin's Money Tips E-mail
    Report inappropriate posts: click the report button
    Point out a rate/product change
    Flag up a news story: news@moneysavingexpert.com
Page 2
    • Marvo5
    • By Marvo5 29th Jun 17, 7:53 AM
    • 89 Posts
    • 79 Thanks
    Marvo5
    How about, downgrade to the flex account in September, upgrade back before your next holiday, then downgrade again? Should work at least once.

    Just realised this works perfectly for me. I have a Flex plus and Flex direct which ends in February. Also have no more holidays until next May. So, close the flex plus in September, then change the flex direct to flex plus in February. Job done and insurance sorted for the holiday period.
    Last edited by Marvo5; 29-06-2017 at 8:01 AM. Reason: More added
    • pashby
    • By pashby 29th Jun 17, 1:59 PM
    • 1 Posts
    • 1 Thanks
    pashby
    They state they are increasing the fee as it is costing them too much. They then give enhanced travel insurance cover to children of the policyholder . . . Surely this is an added cost? What about singles and people without children? Appears that group are being penalised - again!

    Perhaps if complaints were made to N/W , they would review this decision.
    • Mr Goodkat
    • By Mr Goodkat 29th Jun 17, 7:11 PM
    • 383 Posts
    • 231 Thanks
    Mr Goodkat
    I will be keeping it as a joint account amongst my / our portfolio of current accounts.

    As a joint account £13 a month is good value for joint policies on worldwide travel (have multiple world wide holidays) breakdown (run two cars) and mobile cover (both on latest iPhone).

    The 3% is a nice off setter with £2.5k held there and struggling to get that or better elsewhere.

    Only claimed on the phone insurance but was very impressed with the speed and service.

    The other packaged accounts still are not as good value all things considered. Could get Halifax for £1 cheaper but already getting £3 a month on both a single and joint reward account and not sure if you can hold a joint reward and joint ultimate reward? Coop drops to £11 with everyday rewards but loads overseas spend and not sure if you can have a single and joint account both getting everyday rewards?

    Flex plus also gives fee free cash withdrawals overseas and access to the Select Ctredit card giving fee free overseas spending plus 0.5% cash back on UK spend

    Even at £13 a month as a joint account loaded with £2.5k and select credit card the account still stacks up for me
    • Marvo5
    • By Marvo5 29th Jun 17, 7:52 PM
    • 89 Posts
    • 79 Thanks
    Marvo5
    Yes, it's still good but for me the main reason is the travel insurance. However I got back from Holiday two weeks ago (third of the year), don't have another planned until next May, so I'm paying £10, soon to be £13 for basically nothing. Closing the account will save me approx £100, then I'll open again when my holiday season starts.

    I've said before, I think it's important to close accounts when banks make negative changes, am in the process of closing both my HBOS accounts, otherwise what's the deterrent for them to keep doing so?
    • Kim_13
    • By Kim_13 30th Jun 17, 6:26 PM
    • 1,212 Posts
    • 1,614 Thanks
    Kim_13
    I also got a letter today trying to sell me the account on the old terms..
    Sealed Pot 10 #520 ~ ~£66.55/£100
    VSP 2017 #9 ~ £41.40/£250.00
    CCCC 2017 #1 ~ £179.71/£120.00
    EF #170 ~ £500
    Xmas 2017 #25 ~ £5/£365
    365 Day Penny Challenge #4 ~ £17.31/£667.95
    • bigadaj
    • By bigadaj 1st Jul 17, 7:02 PM
    • 9,587 Posts
    • 6,101 Thanks
    bigadaj
    I also got a letter today trying to sell me the account on the old terms..
    Originally posted by Kim_13
    ......well, current terms as things are.
    • roddydogs
    • By roddydogs 15th Jul 17, 8:21 AM
    • 5,892 Posts
    • 2,455 Thanks
    roddydogs
    Even more annoying, you cant downgrade to the old Flex a/c & still get the European Travel, as you now count as a "New" customer, therefore invalid!.
    (or has anyone done this?)Phone advisor's arn't always right.
    • Kim_13
    • By Kim_13 15th Jul 17, 9:07 AM
    • 1,212 Posts
    • 1,614 Thanks
    Kim_13
    Even more annoying, you cant downgrade to the old Flex a/c & still get the European Travel, as you now count as a "New" customer, therefore invalid!.
    (or has anyone done this?)Phone advisor's arn't always right.
    Originally posted by roddydogs
    They withdrew the travel insurance for any new FlexAccounts opened after a certain date in December (I think) last year. It would still be a new FlexAccount, albeit downgraded to from something else so I would think the advice is correct unfortunately.
    Sealed Pot 10 #520 ~ ~£66.55/£100
    VSP 2017 #9 ~ £41.40/£250.00
    CCCC 2017 #1 ~ £179.71/£120.00
    EF #170 ~ £500
    Xmas 2017 #25 ~ £5/£365
    365 Day Penny Challenge #4 ~ £17.31/£667.95
    • bigadaj
    • By bigadaj 15th Jul 17, 9:42 AM
    • 9,587 Posts
    • 6,101 Thanks
    bigadaj
    Even more annoying, you cant downgrade to the old Flex a/c & still get the European Travel, as you now count as a "New" customer, therefore invalid!.
    (or has anyone done this?)Phone advisor's arn't always right.
    Originally posted by roddydogs
    The alternative is to switch an account in before the end of September, this seems to then qualify so long as you are cycling the £750 a month through the account every month from an external account.
    • Archi Bald
    • By Archi Bald 15th Jul 17, 9:54 AM
    • 9,344 Posts
    • 7,387 Thanks
    Archi Bald
    The alternative is to switch an account in before the end of September, this seems to then qualify so long as you are cycling the £750 a month through the account every month from an external account.
    Originally posted by bigadaj
    This sounds interesting - have you got the link to the supporting T&Cs please as I couldn't find them? I still need to open a FlexAccount, so wouldn't this count as a new account then?
    • roddydogs
    • By roddydogs 15th Jul 17, 10:05 AM
    • 5,892 Posts
    • 2,455 Thanks
    roddydogs
    "Seems to qualify" is very vague, are you sure?
    • ic
    • By ic 15th Jul 17, 7:33 PM
    • 2,482 Posts
    • 1,278 Thanks
    ic
    Received this letter today. Have spun round the other banks' websites and can't find anything that beats the package on the increased price. Its a great shame to lose the extend warranty - I've never called upon it, but did always include it in my thinking when buying new items.
    * my posts are made in good faith and only represent my own opinion, experience or understanding of a situation.
    • bigadaj
    • By bigadaj 15th Jul 17, 11:05 PM
    • 9,587 Posts
    • 6,101 Thanks
    bigadaj
    "Seems to qualify" is very vague, are you sure?
    Originally posted by roddydogs
    No, that's the point, I'm not the one particularly interested in it.
    • bigadaj
    • By bigadaj 15th Jul 17, 11:09 PM
    • 9,587 Posts
    • 6,101 Thanks
    bigadaj
    This sounds interesting - have you got the link to the supporting T&Cs please as I couldn't find them? I still need to open a FlexAccount, so wouldn't this count as a new account then?
    Originally posted by Archi Bald
    Section 3 of the flex account travel insurance terms and conditions.

    There is reference to opening an account by December 2016, and subsequently to rather paying in £750 per month or switching an account, it's not clear whether the switch would allow a newer flex account to still qualify, but it seems a bit odd that having an older account and switching would then override the paying in qualification, and if so for how long, so my assumption it is an or rather than an and.
    • Archi Bald
    • By Archi Bald 16th Jul 17, 10:59 AM
    • 9,344 Posts
    • 7,387 Thanks
    Archi Bald
    Section 3 of the flex account travel insurance terms and conditions.

    There is reference to opening an account by December 2016, and subsequently to rather paying in £750 per month or switching an account, it's not clear whether the switch would allow a newer flex account to still qualify, but it seems a bit odd that having an older account and switching would then override the paying in qualification, and if so for how long, so my assumption it is an or rather than an and.
    Originally posted by bigadaj
    I don't seem to be able to find the T&Css for the Flexaccount - would you be able to post a link please?
    • apt
    • By apt 17th Jul 17, 9:54 AM
    • 3,059 Posts
    • 1,718 Thanks
    apt
    Here's the blurb about Flex Account and travel insurance. You needed to have applied for a Flex Account by 15 December 2016 to qualify, also to keep the £750 per month funding and sign a form this Sept/Oct. http://www.nationwide.co.uk/support/support-articles/manage-your-account/travel-insurance/travel-insurance-with-flexaccount
    Last edited by apt; 17-07-2017 at 9:58 AM.
    • Tardis4
    • By Tardis4 17th Jul 17, 1:10 PM
    • 14 Posts
    • 111 Thanks
    Tardis4
    All done to the travel insurance for us.... just want an insurer that will actually pay out if we have to make a claim! All of the positive reviews for travel insurance online seem to be for people who haven't tried to claim...and the negative reviews for each company, for people who've had to fight to get their claims paid out. Ridiculous.
    • Archi Bald
    • By Archi Bald 18th Jul 17, 3:40 PM
    • 9,344 Posts
    • 7,387 Thanks
    Archi Bald
    Here's the blurb about Flex Account and travel insurance. You needed to have applied for a Flex Account by 15 December 2016 to qualify, also to keep the £750 per month funding and sign a form this Sept/Oct. http://www.nationwide.co.uk/support/support-articles/manage-your-account/travel-insurance/travel-insurance-with-flexaccount
    Originally posted by apt
    Thank you very much, very helpful, much appreciated. Turns out I had an ancient, dormant, FlexAccount which I have now re-enabled to meet the criteria by the end of September. Saved those T&Cs, too!
    • Penelopa.Pitstop
    • By Penelopa.Pitstop 19th Jul 17, 3:33 PM
    • 231 Posts
    • 105 Thanks
    Penelopa.Pitstop
    My issue is with losing useful benefits and getting extended one that do not apply. We're only a couple, don't have expensive phones we lose or break every couple of months and I already have roadside assistance with my both cars for free from manufacturers.

    Extended Warranty was something I was hoping to claim under in future when buying different things. Now it will be gone.

    I have separate travel insurance with Aviva, so I'm ok with losing this perk. Will have to review Aviva policy in detail to see if it's meets all requirement. I used it to complement Nationwide insurance.

    However I have to find a way to withdraw money abroad without any charges. If I get card that allows it, I'm downgrading to free account.

    I sent private message through online banking commenting on changes and how disappointing they are.

    • Luckystar
    • By Luckystar 19th Jul 17, 7:26 PM
    • 952 Posts
    • 3,522 Thanks
    Luckystar
    I received my letter at the weekend about the increase too. I will keep my Flexplus as I think it's still great value for a family as it covers all 4 of our mobiles and both my teenagers still in full time education if they travel abroad without us. For my parents however they are thinking of switching as not as much value to them as a couple. It's a shame they didn't think of a joint packaged account and a family one with different prices. Sad to see the extended warranty go as I actually used this about a year and the service provided was brilliant. I've been told they are taking this insurance away as not widely used so customers don't really benefit from it.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

77Posts Today

2,299Users online

Martin's Twitter