Nationwide turning away new customers

Returning_officer

I have just been to my local Nationwide Bank to open a Flex Account (current account). I am going overseas soon and want to use their debit card in ATMs overseas as their rates are still quite good even after the charges go up on 1st November.

I was honest and told the lady behind the counter that this account wouldnt be the account my wages were paid into, but used primarily for overseas trips.

She went away to talk to someone and came back and said "Sorry, you cannot have a Flex Account unless a minimum of £750 is deposited into it a month"
I queried this and she was adamant that I couldnt open one.

Now, from the bank's standpoint I can sort of see where they are coming from as I wont be utilising all their goods and services etc. But the fact that I was honest with them tripped me up, because if i'd have lied and said my wages would be going in she would have given me the account.

So, the pages on this site relating to opening a nationwide current account for travelling purposes are misleading i'm afraid. If you have less than £750 going in a month then you cannot have one.
I for one am a tad gutted as it looks like I'll have to use one of the 'cards from hell' to get money out overseas. :mad:
Simon.

adindas

Indeed new Flexi a/c require £750 to be fed each month. Not necessary your monthly salary it could be transfer from any other account and then transfer it back.
So that is the requirement. Nowadays most bank require you to feed your account certain amount of money. Otherwise they will close. It is also apply to new a/c with HSBC.


ADINDAS

Returning_officer wrote: »

I have just been to my local Nationwide Bank to open a Flex Account (current account). I am going overseas soon and want to use their debit card in ATMs overseas as their rates are still quite good even after the charges go up on 1st November.

I was honest and told the lady behind the counter that this account wouldnt be the account my wages were paid into, but used primarily for overseas trips.

She went away to talk to someone and came back and said "Sorry, you cannot have a Flex Account unless a minimum of £750 is deposited into it a month"
I queried this and she was adamant that I couldnt open one.

Now, from the bank's standpoint I can sort of see where they are coming from as I wont be utilising all their goods and services etc. But the fact that I was honest with them tripped me up, because if i'd have lied and said my wages would be going in she would have given me the account.

So, the pages on this site relating to opening a nationwide current account for travelling purposes are misleading i'm afraid. If you have less than £750 going in a month then you cannot have one.
I for one am a tad gutted as it looks like I'll have to use one of the 'cards from hell' to get money out overseas. :mad:
Simon.

glider3560

Why not try applying for one online? The website offered me a debit card when the branch said I couldn't have one.

BTW, Nationwide are a building society, not a bank.

knightfox

i think that some of the offers like insurance are only allowed if you pay in £750 a month.

Maybe because you mentioned travelling they thought you wanted this policy. Then you would have needed £750. Maybe they got a little confused.

† For the free Travel Cover a main FlexAccount is defined as: a FlexAccount with a Visa debit card (not a cash card+) where you have completed an account transfer by using our Account Transfer Service. To maintain this offer, you must then credit at least £750 per month into your FlexAccount (excluding internal transfers). You need to be 18 or over to apply for a FlexAccount with a Visa debit card

adindas

I do not think you could avoid paying £750 monthly if you want to to keep flexi account open for new customers. EU insurance is just the benefit wether you want ot take it or not, you still need to fund your a/c with at least £750.00 to keep those a/c open.

http://www.nationwide.co.uk/current_account/account_benefits.htm

It seems nowadays the bank, use these strategies (or otherwise they will apply dormancy fee) to kick out those who did not use his a/c as it is a admin burden for them to keep those a/c open.

My other a/c which I opned it back few years ago do not need the requirement, for that reason I want to keep it open eventhough I did not use it as one I close it and open it in the future they will start asking to put minimal funding. What do you think ..

ADINDAS

knightfox wrote: »

i think that some of the offers like insurance are only allowed if you pay in £750 a month.

Maybe because you mentioned travelling they thought you wanted this policy. Then you would have needed £750. Maybe they got a little confused.

† For the free Travel Cover a main FlexAccount is defined as: a FlexAccount with a Visa debit card (not a cash card+) where you have completed an account transfer by using our Account Transfer Service. To maintain this offer, you must then credit at least £750 per month into your FlexAccount (excluding internal transfers). You need to be 18 or over to apply for a FlexAccount with a Visa debit card

premierfella

There remains no requirement to pay in £750 per month to get/retain a FlexAccount. That funding is only required if you want to make FlexAccount your "main account" to get the perks.

Customers/potential customers are still free to open or run the account with less than £750 per month paid in.

Returning_officer

premierfella wrote: »

There remains no requirement to pay in £750 per month to get/retain a FlexAccount. That funding is only required if you want to make FlexAccount your "main account" to get the perks.

Customers/potential customers are still free to open or run the account with less than £750 per month paid in.

Incorrect i'm afraid.

I have just been on to Nationwide and they confirmed what the lady behind the counter told me. You cannot have a flex account if less than £750 monthly is to be paid into it regardless of it being your main account or not.

adamc260

Returning_officer wrote: »

Incorrect i'm afraid.

I have just been on to Nationwide and they confirmed what the lady behind the counter told me. You cannot have a flex account if less than £750 monthly is to be paid into it regardless of it being your main account or not.

I don't pay £750 into mine and I still have one? So thats slightly incorrect

Open it online, make sure when it says 'Will this be your main account' you select no and I was fine opening one...

Robert2009

If I paid in £750 each month from my Nationwide Savings Account into my FlexAccount and paid it straight back again would I be elegible for the so called free travel insurance?

callum9999

adamc260 wrote: »

I don't pay £750 into mine and I still have one? So thats slightly incorrect

Open it online, make sure when it says 'Will this be your main account' you select no and I was fine opening one...

Well I don't pay £750 in a month yet I haven't been contacted about it. In fact, I got sent a letter saying I qualify for the insurance.

knightfox

Returning_officer wrote: »

Incorrect i'm afraid.

I have just been on to Nationwide and they confirmed what the lady behind the counter told me. You cannot have a flex account if less than £750 monthly is to be paid into it regardless of it being your main account or not.

Maybe the branch staff have been told to say that. But as far as the web is conerned this is not the case.