Flex Direct nationwide account

rb10

KTF wrote: »

I already have a FlexAccount but cant see any benefit at all of 'upgrading' to the FlexDirect nor do I see how it will suddenly become competitive?

Edit: I think you were being ironic?

They can easily change the terms of the account ... e.g. the interest rate.

KTF

BugsyBrowne wrote: »

You think innovate was being ironic really....

I really don't know as they are not seemingly a fan of this account.

guesswho2000

Heng_Leng wrote: »

Spent long weekend at a friends and the travel insurance cost £5
Holidays are outside Europe.

I upgraded my free travel cover to worldwide for £20, I doubt I could have done better elsewhere.

System

Good for you
Prefer to have a access to a proper clearing bank myself!

guesswho2000 wrote: »

I upgraded my free travel cover to worldwide for £20, I doubt I could have done better elsewhere.

simax

Nationwide is a clearing house too you know. The only building society to be a clearing house from what I gather.....

Toe-Jam

Just opened one of these, do they have 2 different cards on it like the flex account, one that doesn't work outside the UK ?

Will be getting swiftly closed if I get one that doesn't let me withdraw money abroad.

grumbler

Why have you opened it then? Nowadays Nationwide debit cards are not the best for abroad transactions.

Pantera_Fan

I opened a Flexdirect account about a month ago. I get free worldwide family travel insurance through work so decided on flexdirect to get a (tiny) bit of interest on my current account.

Not overly impressed so far. No PIN sent when account opened. Had to request 2 reminders and visit branch. As the PIN is needed to do most things online was not a great start! Branch were happy to transfer the money I required. No one seemed fussed that it was a 'no branch' account.

DD transfer also not gone through yet as existing bank required signed transfer form. Waiting to hear now if I qualify for the £100 account transfer promise as their terms say that providing I provide the correct bank account details and I have DD's to transfer they will contact the companies within 10 days or pay £100 after the transfer has completed. Will wait and see....

izools

After holding a Flex Account for a year I decided to regrade the account to Flex Direct as soon as it became available.

I am reticent to use the term "upgrade" as in many ways it is a downgrade.

You loose not only the travel insurance, but also branch access and telephone banking in so much as you have to use an automated IVR for pretty much all and sundry, which takes away one of the best things about Nationwide - British call centres.

Now I can understand having to use the IVR for sundries like checking your balance, but there are certain things that have to be done via a human - like requesting a direct debit mandate or complaining when they bounce a cheque despite sufficient funds.

Issues so far:

> Old cheque book was cancelled arbitrarily and a cheque I had drawn on the account before it was regraded was bounced because the team that regraded the account managed to do something to their system to make it look my original chequebook never existed in the first place. Very embarassing after joking with the chap I paid by cheque about how I'd never written a rubber cheque in my life and he'd never been given one.

> Being told I have to use the FlexDirect automated system for things it can't do. "Well sir I can't speak to you about that as you are a Direct customer". Well your IVR can't handle a freakin' DD Indemnity Claim can it!?

I have to admit I didn't know the travel insurance dropped off the account.

It is good however that they seemed to have applied the "Three month fee free overdraft" clause to me even though I'm an existing customer - as I had to go quite heavily overdrawn when my car blew up. I'm back in the black now but they didn't charge me a penny, despite being £4,400 OD at one point.

Overall, it's different. It's no better and no worse.

For me it works out better because

> I'm nearly always in credit so the interest earned far outweighs the OD charges
> The only time I've been OD coincided nicely with the three month introductory fee free OD. Can still scarcely believe that, £4400 OD and not charged a penny.
> I nearly never travel abroad so have little use for the travel insurance
> I don't use branches at all and do 99% of everything else online

If this isn't you, however, it isn't a better account.

lemontart

I have had normal flex account for years, the free travel insurance came out just in time for me having to go home for a funeral so was well timed for me, I rarely go to counter for anything, you have the option of online banking if you want.

I am more than happy with the account and the times I have deal with the staff at Nationwide beit on the phone, or in branch I have always found them approachable, friendly and helpful. Both in good and bad times,

Also for me it supports the local economy as they are major employers in the area.