Flex Account new rates

simax

lilac_lady wrote: »

So far I've no complaints with Nationwide service so will keep my Flex Account. If you want to get interest on your money, don't leave it in a current account.

Well, I'm certainly not going to move it to my e-savings at 1.20% AER, when I can get 5.00% AER on a Lloyds TSB current account, am I?? :rolleyes:

Milarky

apt wrote: »

NW are increasing the overdraft rate on the Flexaccount by 5% to 17.9% next week and removing all credit interest. Still has fee free foreign spending, but for how much longer?

Yes, if this overdraft rate change was based on a 'risk-based' pricing decision on a credit card - rather than a current account where everyone pays exactly the same rate - there would be restriction on doing so of having to give all affected account holders 30 days notice. (E.g were Nationwide to raise the rates on their own credit cards in the same announcement they would have to provide such notice)

[Since 1st Jan 2009] Your credit card company will:
• Give you at least 30 days notice of any increase in the APR you pay on your credit card if it is being changed as a result of riskbased repricing.

http://www.choosingandusing.com/resources/documents/CreditCardFactsheet.pdf

simax

Well, just come back from Lloyds TSB and they've opened up a current account with Vantage for me. Gonna use the Nationwide account now purely for the fee-free cash withdrawals abroad.

Shame really....