Nationwide FlexDirect - 5% interest, free overdraft

adindas

I wonder if I have been missing something.

I have seen quite a few people here open a flex account and then upgrade it to flex direct ?

Is there any restrcition that prevent people who already have flex account to apply for a brand new Flexdirect account ?

If we already have a flex account is it still possible to get Flexdirect ?

thanks

plunt

yep, thats what i did! worked fine! if you log in to your online banking and follow the options it will eventually get you to chose to upgrade or open a new account! process takes about 3 minutes to complete

plunt

just for more detail in opening it as a new account or upgrading it (last step shows the difference)

1 ) login
2) browse
3) products
4) current accounts
5) click "more about flexdirect
6) click the apply now ribbon at the top
7) click apply for new flex direct (on the right) the left hand side will say upgrade your existing account


was going to post screen shots but then realized all my bank info would show!

BugsyBrowne

It does make you smile though its as if Banks including Nationwide are doing us all a big favour but its actually far from it they are all ripping us customers to shreds while these banks pay 1million salaries and 1million bonuses while we are all happy to get 5% with a balance maximum of 2.5k.

Yes it's better then nothing I agree but they ARE all still taking the Pi*s out of the customers yet we still carry on earning a few pence a year while the banks make 140 million a day.

Halifax for instance giving away silly fivers yet lloyds banking group made 3.5 billion last year.

Anyway I'm setting up Bugsy's bank.

adindas

plunt wrote: »

yep, thats what i did! worked fine! if you log in to your online banking and follow the options it will eventually get you to chose to upgrade or open a new account! process takes about 3 minutes to complete

Thanks. Managed to open a new FelxDirect via phone. It just takes about 15 min to do that.

Another place to put £2500 and get 5% interest.

mulronie

BugsyBrowne wrote: »

Yes it's better then nothing I agree but they ARE all still taking the Pi*s out of the customers yet we still carry on earning a few pence a year while the banks make 140 million a day.

Depends which side of the coin you look at.

Current account customers have frankly never had it so good, nor have mortgage borrowers. Savers, on the other hand....

adindas

BugsyBrowne wrote: »

It does make you smile though its as if Banks including Nationwide are doing us all a big favour but its actually far from it they are all ripping us customers to shreds while these banks pay 1million salaries and 1million bonuses while we are all happy to get 5% with a balance maximum of 2.5k.

Yes it's better then nothing I agree but they ARE all still taking the Pi*s out of the customers yet we still carry on earning a few pence a year while the banks make 140 million a day.

Halifax for instance giving away silly fivers yet lloyds banking group made 3.5 billion last year.

Anyway I'm setting up Bugsy's bank.

Well Interesting point.
I can not change the way the bank giving the Bonus so I leave it to people who could and want to do that.

But I certainly could do something to change the interest that I have currently got paying lower than 5% to get 5% interest up to £2500. Job done ....

mary

Could not believe what I was hearing.

Never banked with Nationwide before. Rang to ask how many accounts I could open. Long wait while the staff poured through the FAQs, asked managers without any luck. Eventually they had to ring the Boss at home on his mobile to clarify how many customers were allowed. The Boss had spent months developing and setting up this new Flex 5% Account and sorting out all the problems - apart from this one.

So sounds very much like a boat charting into new territory, if you have to ring the guy at home on his day office to see what the rules are!!!!!!

So 4 it is then.

callum9999

grumbler wrote: »

I had a second Flex account that I decided to upgrade instead of opening a new account.
They seem to be working rally hard there in Nationwide:


ETA: just saw the post above. Amazing coincidence, especially timing.

I just upgraded and my Flexaccount instantly changed to FlexDirect.

I submitted the application then closed it, refreshed the internet banking page and it's now showing as FlexDirect.

OnePound

I am looking at the Flexdirect account and wondering whether to upgrade (simpler? wholesale move of Fexaccount to Flexdirect), or create new account (can I have both and just use the Flexdirect to get the 5% interest, and still retain the 'free' travel insurance). For the second option could I have a SO move £1000 month each way? I do all my banking online anyway.