Refused for Nationwide Flex Current Account

the182guy

Hi all,

I applied for this account because of the no fees for currency conversions. I filled in the form and it refused my application. I entered that I am self employed and that I would NOT like to transfer my salary, DDs and SOs to the account. Could this by why I was not accepted?

The only credit I have is a student loan which I thought did not show up on credit searches? I don't have any loans/credit cards or other finance, apart from a monthly mobile phone contract which I have never missed a payment.

One thing I did do though is got a cash ISA with M&S about 2 weeks ago, could this have had a negative impact on my credit score?

I called Nationwide and they could not even tell me the requirements that need to be met, they just said they don't know and I need to phone Experian - which I didn't.

I am thinking of applying for one of their Internet savings accounts and depositting a lump sum, then pay in a fixed amount every month, would this help if I were to apply for the Flex account again in say 3 months? Or should I get one of their basic bank accounts and do the same as above?

I have now applied for a Cahoot current account, strangely enough I got accepted on this account which has a £100 0% overdraft (£500 limit), but I couldn't get accepted at Nationwide when I opted for no overdraft.

Any thoughts are appreciated!

Kavanne

Try again selecting you would like to transfer all your DDs and salary

the182guy

Kavanne wrote: »

Try again selecting you would like to transfer all your DDs and salary

Thanks for the suggestion but that could be a problem if my initial application has had an impact on my credit report, I don't want another hit on it. Also I have heard that you should wait at least 3 months before applying for a banking facility/financial product again. Besdies that, switching to it as my main current account defeats the purpose of my getting the account.

Kavanne

I got rejected for a flex account. 2 weeks later I reapplied selecting I did not want an OD and DID want to transfer DDs and I was accepted The first app hadn't even done a credit search. If you are worried, check your credit report first.

the182guy

That's probably it then, Nationwide are only accepting applicants that want it as their main current account. That'll be why they decline an app before even doing a credit check.

I will try and get my Experian report through a cashback site and see if Nationwide have even executed a search on me.

If they haven't I could try opening it in the branch I suppose.

Inactive

I got a FlexAccount with NW without moving any DD's etc. to them, however I did have savings accounts there as well, it may pay you to open a savings account.

Good luck.

noah271007

Im surprised. Nationwide don't even offer flexaccount with cash card for those who don't want nationwide as their main account??

freeasabird

Last year I got a flex account with Nationwide that I didn't put my main salary into. It was so easy and I still don't have it as my main bank account. Since then, I think they've got a bit wiser especially as they know that some people like me used it as a second bank account just to get their debit/credit card that doesn't have any charges for transations you make while your abroad.

sutton111

noah271007 wrote: »

Im surprised. Nationwide don't even offer flexaccount with cash card for those who don't want nationwide as their main account??

It may be better if they offered a debit card on there basic account.

the182guy

Thanks all,

I think I'll apply for one of their regular saver accounts then try again for the Flex in 3 months or so.

Cheers

Inactive

noah271007 wrote: »

Im surprised. Nationwide don't even offer flexaccount with cash card for those who don't want nationwide as their main account??

Well, surprised you may be, but I am telling the truth, I still have the account and still do not make any DD's etc. with it. I just fund it for trips abroad.