Nationwide FlexDirect - 5% interest, free overdraft

plunt

just checked my nationwide account for when my application was made and accepted and it was on the 1/3/2013. however! looking at it they "converted" the checks to a flexaccount check (though i know it wasnt) and added two new applications for the flexdirect account on 31/3/2013. which i know i never did.

just a word of warning to all , take a screenshot if you have not already done so!

anna42hmr

Makes me laugh at this that nationwide are sending paperwork for additional accounts people didn't ask for yet still cant seem to send me everything yet for the account I opened!! (not got card reader or welcome pack, but account is all fine and as have debit card and pin etc have the account details)

I had to chase yet again yesterday for the card reader,though they were a bit more helpful this time around.

They apparently added a note to my account to let the branch know what was going on, so that I could get the branch to add a couple of payees to the account in meantime, as whilst can do tel banking payments, you have to set up the beneficiaries before hand via online banking!

Luckily the branch were fine about it, (and by the sounds of it they are aware of a lot of issues with the account at moment!).

They added the payees and I asked them to do £10 to each to check, (both other accounts of mine was fine). So that was good and when I got home was able to transfer the £1k out over the phone so can send the money back in for April's funding) - though that took longer than should've and also had a call from nationwides fraud team to check that the £1k outbound payment was legit.

Was a bit worried that given the call from the payments team would have problems sending the £1k back, but seems fine so far.

At least nw have a few more weeks now till I need to move the next £1k in and out the account, so fingers crossed by May I may actually get the card reader!!!

When I finally have ib sorted, intend to set up a standing order from nationwide to one of my Lloyds vantage accounts and a standing order from vantage to nationwide, both for same day so end of day balances for both accounts aren't sorted

whilst I could set up the so from Lloyds to nwide in meantime and just transfer out over the phone, am reluctant to do so at moment in case cant get the money out, so for now intend to send the £1k out and £1k in after. As I don't want to risk having £3.5k stuck in nationwide if for some reason cant transfer out again.

jayjay21

Happy my interest came through, not so keen on the fact it deposits gross and takes away the tax after, but that may just be me, the transfer using the pin device is a right PITA, much prefer the Halifax's online banking!

rb10

jayjay21 wrote: »

Happy my interest came through, not so keen on the fact it deposits gross and takes away the tax after, but that may just be me, the transfer using the pin device is a right PITA, much prefer the Halifax's online banking!

Once the Nationwide online banking is used to your transactions, it'll hardly ever ask you to use the cardreader - it's only really for new transactions.

innovate

jayjay21 wrote: »

not so keen on the fact it deposits gross and takes away the tax after, but that may just be me,

How else would you like it? With no indication whether or how much tax you paid?

jayjay21

innovate wrote: »

How else would you like it? With no indication whether or how much tax you paid?

Much rather it just be shown as net, but I suppose I am being a bit picky!

innovate

I hazzard a guess - - many more people would like to see whether they paid any tax, and how much, rather than just guessing and/or being ignorant to the taxes paid.

I suppose Nationwide (and other banks) could say in the description "net of 20% tax", or "gross, no tax deducted" but for those of us who like to download their transactions for further analysis, it's awfully handy if the actual amounts are shown.

Gromitt

jayjay21 wrote: »

Happy my interest came through, not so keen on the fact it deposits gross and takes away the tax after, but that may just be me, the transfer using the pin device is a right PITA, much prefer the Halifax's online banking!

So you would prefer to register a phone number with them, wait 7 days and then ring you up instead of just using a small PIN calculator?

Remember that once you have setup and used the payee, further transactions hardly ever asked for the PIN sentry, just like Halifax.

DragonQ

Gromitt wrote: »

So you would prefer to register a phone number with them, wait 7 days and then ring you up instead of just using a small PIN calculator?

Remember that once you have setup and used the payee, further transactions hardly ever asked for the PIN sentry, just like Halifax.

What's wrong with Lloyds TSB's method (presumably Halifax is the same)? I've never had a problem with it. You have three pieces of secret information and get re-asked for one of them (password) whenever you send a payment. New payees require you to receive an automated call that lasts 30 seconds.

Most people take their mobiles everywhere. Hardly anyone takes their bank card reader everywhere.

someone

innovate wrote: »

How else would you like it? With no indication whether or how much tax you paid?

To be fair it is much more transparent. They also do it for card fees (for using the debit card oversees) so you see that you have been charged and not lumped into one amount.