Nationwide FlexDirect - 5% interest, free overdraft

DragonQ

Gromitt wrote: »

I has been stated on another thread that accounts opened before the conditions were made clear (8th March) will receive the 5% for the full 12 months. Accounts opened after this date will not receive the promotional rate.

Whether this actually happens is anyone's guess, as usual.

Hmm that's interesting, since I opened both of my accounts on the 8th of March and got interest on both. They've also deposited the tax they erroneously took off so everything is good now.

rb10

DragonQ wrote: »

They've also deposited the tax they erroneously took off so everything is good now.

I don't really want to say 'I told you so', but ...

I told you so.

DragonQ

rb10 wrote: »

I don't really want to say 'I told you so', but ...

I told you so.

Well it didn't "sort itself out", I called them and filed a complaint.

EKEA

The first month's "savings" is in for me...

The full £2500 got me a whopping £3.48 (£4.35 before tax) - is that right? I only have the £2500 in there, it hardly seems worth it for the ~£40 I'd get at the end of the year.

Maybe I did some calculations wrong.

anna42hmr

EKEA wrote: »

The first month's "savings" is in for me...

The full £2500 got me a whopping £3.48 (£4.35 before tax) - is that right? I only have the £2500 in there, it hardly seems worth it for the ~£40 I'd get at the end of the year.

Maybe I did some calculations wrong.

what date did you pay the money in? You would only get the interest for the time the money was in the account so for example if the £2500 was only in from 18th of the month for example you only earn interest from 18th to end of the month, and for the next month you would get more interest as the money will have been in longer.

EKEA

Yeah, just been looking at that.
It was in from the 19th. Will check it again next month

DragonQ

If the account is full for an entire month, it should yield over £10 in that month (gross).

YorkshireBoy

EKEA wrote: »

It was in from the 19th.

19th to 31st is 13 days.

Interest is calculated at...

£2,500 x 4.89% / 365 x 13 = £4.35 gross, so your interest is correct.

CRISPIANNE3

anna42hmr wrote: »

what date did you pay the money in? You would only get the interest for the time the money was in the account so for example if the £2500 was only in from 18th of the month for example you only earn interest from 18th to end of the month, and for the next month you would get more interest as the money will have been in longer.

I thought that would just be common sense. Perhaps not to some
then!

elektra

yeahright wrote: »

Hi
Has anyone ever had an account suddenly appear on the (in this case) Nationwide online account list with corresponding debitcard and paperwork in the post? It seems I have. I think, perhaps, I should avoid it and close it if possible.

Bizarrely I've received paperwork and card for a second account, although I only applied for one. This was received approx 2 weeks after the first.

Gromitt wrote: »

I has been stated on another thread that accounts opened before the conditions were made clear (8th March) will receive the 5% for the full 12 months. Accounts opened after this date will not receive the promotional rate.

Whether this actually happens is anyone's guess, as usual.

Not sure whether it is worth me depositing into it though, as doubtful it would receive the 5%.