Nationwide Visa Debit Card

MrBen_4

I am in the process of trying to apply for a Nationwide Visa Debit card. As I understand it I need to have a current a/c with Nationwide first so that the card has somewhere to debit the money/cash from. My question is, is there a minimum amount I must have in the current a/c to keep it 'alive'? Do I need to be feeding it a regular amount each month for it to be kept open? I currently bank with HSBC and have my salary paid into a current a/c with them (I can't change this situation) will HSBC charge me for feeding my Nationwide current a/c which I need to do in order to fuel my Nationwide Vida Debit card spending?

Thanks in advance.

HGLTsuperstar

The answer is no. Many people have the Nationwide solely for using overseas, however you may want to consider using them as your main current account, esp with e-savins alongside. Why cant you change the HSBC salary arrangement?

libra10

Hello Mr Ben

I have two Nationwide flex accounts. One jointly with OH and one in my own name. In the joint account I keep around £80, and use this account for transferring money into Nationwide e account. The second flex account is in my name and usually has around £20 in it.

I wouldn't say that you need to keep much money in Nationwide current accounts.

Good luck

MrBen_4

Thanks thats all I needed to know. I'm going to start applying for this a/c online now. I suppose if HSBC charge some sort of transfer fee, I can always just write a cheque or withdraw cash to deposit into the Nationwide a/c manually.

grumbler

MrBen wrote:

...if HSBC charge some sort of transfer fee....

I don't know any UK banks that charge for BACS (not the same day) transfers ...

libra10

I agree with grumbler. I have written cheques and also done transfers from HSBC to Nationwide, and never been charged.

Wirenth

The only reason that you might want to pay £1000 a month into the nationwide current account is to get a preferential interest rate on your money. Worth doing if the interest rate is higher than that you would get in HSBC.

http://www.nationwide.co.uk/banking/current_account/flex-intro.htm

However, like many other people, I just keep a minimum in my Nationwide account and then deposit some holiday spending money in there before I travel...

kennyward

is it possible to set up multipal current accounts.then simply transfer the amount required to be paid into the accounts form one to the other during the course of a month and back to the original thus meeting the criteria of having £1000 paid into the flex current account to qualify for the bonus money on each account.better still balance transfer the money from a zero intrest credit card so it costs nothing and you get rewarded for it.then simply close the accounts once you have bagged the free cash.any suggestion on the theme fellow moneyexperts.kind regards.kenny ward.

Wirenth

Yes, it is. However, much easier to just open the one with the highest rate of interest (currently A&L 5%ish guaranteed until March 07). Once you have bagged any incentives from other lower paying accounts, close them.