Nationwide FlexAccount and "free" travel insurance.

new2012

I have a Nationwide FrexAccount which I hardly use as I only opened it for the free money withdrawal while abroad.

If I now start putting £750 a month in it will I become elegible for the "free" travel insurance or will I have to use it as my main account and start paying my pension into it and have a direct debit coming out?

I have a Halifax reward account that I transfer £1000 into every month to get the £5 reward so putting another bank account into the loop wouldn't be a problem.

rb10

Their website reveals all ...

Nationwide wrote:

Unless you have already been notified that you are eligible, in order to qualify for free Nationwide FlexAccount Travel Cover you must hold a Visa debit card (not cash card+**) and complete a transfer of all of your Direct Debits and standing orders from an account with another bank or building society to your FlexAccount using our Account Transfer service.

adamc260

Banks are getting wise to people just transfering money between accounts to get perks!

Joe_Bloggs

adamc260 said:-

Banks are getting wise to people just transfering money between accounts to get perks!

@adamc260
Spill the beans and inform the savings community of how to correctly conduct their account business.
J_B.

new2012

So if I transferred everything to the Nationwide using their transfer service I could still transfer a £1000 a month to the Halifax and back again?

Just as you think, good, I've retired, I can go on more holidays, the travel insurance increases. 10 days on a ship cost us £40 all because of my wife's HBP and thyroid and her carpal tunnel operation. And dodgy knees.

Me, I am the picture of good health.

chattychappy

Well... I don't have any standing orders or DDs anywhere.... so nothing to transfer!

They just have me a "select" credit card - so have obviously decided I'm crediting £750 a month.

Suppose I should call them to find out if I "qualify". But already have travel insurance so it's not a big thing.

Joe_Bloggs

Travel insurance is a minefield when the actualities are input to the potential offerings of a bonus/paid for banking insurance situation. There are aged related caveats /exemptions for real world insurance cover. Check with the issuer for the scope of the cover.
J_B.

thenudeone

chattychappy wrote: »

Well... I don't have any standing orders or DDs anywhere.... so nothing to transfer!

Why not:
Set up a paypal account (it's free) and set up direct debit as a method of funding.
Create an ebay account and set up direct debit as a means of paying their fees.
Open a regular savings account and set up a standing order to pay yourself £5 a month.
Open an online savings account with one of the building societies who allow or require you to deposit funds from your current account by direct debit (eg West Brom)

You now have three active direct debits and 1 standing order which will usually qualify you as a "genuine" transferring customer;)

chattychappy

thenudeone wrote: »

Why not:
Set up a paypal account (it's free) and set up direct debit as a method of funding.
Create an ebay account and set up direct debit as a means of paying their fees.
Open a regular savings account and set up a standing order to pay yourself £5 a month.
Open an online savings account with one of the building societies who allow or require you to deposit funds from your current account by direct debit (eg West Brom)

You now have three active direct debits and 1 standing order which will usually qualify you as a "genuine" transferring customer;)

Thanks for that... but, frankly I don't want to be bothered plus I don't like DDs on principle. Most of my travel is in Asia, so I need global insurance for that anyway.

But I might give them a call. I've had the flex account for over 20 years (opened the week it was launched). Balance usually over 10K and (ironically) since they told me I'm getting a Select card there has been a few K going in each month. If based on that they don't want to regard it as my "main" account, fine. My working patterns are bizarre so there are months when I have no income.