Nationwide FlexDirect - 5% interest, free overdraft

DragonQ

Just spent half an hour opening the account on the phone cos I was told they could register the account for gross interest if I did it that way (no R85 form to fill in). Turns out they were talking rubbish and the sales person had no idea what I was talking about. She kept saying "we can't give you a gross income [sic] until you pay in money to the account" and "I can't advise you on interest", !!!!!!? She even asserted at one point that there was no need to register this particular account for gross interest, and I asked "well how do you know who's eligible and who's not then?" and she again repeated the above rubbish.

Could've done it online in 2 minutes if I'd have known I'd have to fill in an R85 either way. :mad:

Speculator

DragonQ wrote: »

Just spent half an hour opening the account on the phone cos I was told they could register the account for gross interest if I did it that way (no R85 form to fill in). Turns out they were talking rubbish and the sales person had no idea what I was talking about. She kept saying "we can't give you a gross income [sic] until you pay in money to the account" and "I can't advise you on interest", !!!!!!? She even asserted at one point that there was no need to register this particular account for gross interest, and I asked "well how do you know who's eligible and who's not then?" and she again repeated the above rubbish.

Could've done it online in 2 minutes if I'd have known I'd have to fill in an R85 either way. :mad:

At least the phonecall was free.

Gromitt

Speculator wrote: »

I have 4 accounts but I am going to leave the money in there for just two days and transfer it back to my 4% vantage.

Can't risk £7500 earning only 1% for 25 days.

Will it not be easier to transfer £100 into each and then transfer the rest if you get 5% interest?

grumbler

Surely you mean transferring £1000, then £900 back...

Speculator

Gromitt wrote: »

Will it not be easier to transfer £100 into each and then transfer the rest if you get 5% interest?

grumbler wrote: »

Surely you mean transferring £1000, then £900 back...

Thanks, you're right.

Don't know why but I was under the impression that the rate was tiered!

I've been very busy opening and closing various accounts and have not read details properly

xyz123

Why does the MSE newsletter say the switching service has to be used for gettinng interest?

innovate

xyz123 wrote: »

Why does the MSE newsletter say the switching service has to be used for gettinng interest?

It doesn't actually say you need to use the switching service, it says "You must switch". Which is equally wrong. Switching is not required.

deutsch

i applied on 03.03.13 as a new customer.
haven't received any post or paperwork....

is there any new customer who had their account opened without paperwork?

innovate

I am an existing customer who applied same day as you and haven't received any paperwork either. BUT I hadn't expected any yet - it's barely 3 working days since the 3rd. I would allow at least 5 working days to get the first lot of snail mail through.

xyz123

innovate wrote: »

I am an existing customer who applied same day as you and haven't received any paperwork either. BUT I hadn't expected any yet - it's barely 3 working days since the 3rd. I would allow at least 5 working days to get the first lot of snail mail through.

I am also waiting for any paperwork, but then as mentioned it hasnt been 5 working days!