Nationwide FlexDirect - 5% interest, free overdraft

SpendingSensible

mrmajika wrote: »

I received my card after 7 working days. I'm now 4 further working days on from that and haven't received my PIN or anything else. I'm not overly worried. I get the impression they're a little overwhelmed with applications for the new accounts.

Thanks, I guess i'm also impatient to start receiving the interest:D

Am bit hesitant with transferring funds in whilst I don't have all the account info yet. Will wait until after this weekend and if still not I will give them a call.

Montmorencymon

anamenottaken wrote: »

Debit card and PIN definitely came separately. Cheque book arrived a more than a week later from other items.

For those of us who upgraded from a Flexaccount, while I can see why they might want to give us a new ATM card, I don't quite understand the need for a new chequebook (since the sort code and account number are the same), especially as we barely used the old chequebook.

SpendingSensible

Just to update that I received the online details etc today. Am only waiting for the ecard reader but have been able to check account details online, so have put funds in, and now just have to set up monthly transfers.

So all in all took about 12 working days to set up (am new customer).

anna42hmr

finally got a card reader in the post from nationwide!! cant believe it took 6 weeks though!

flyfto

Can anyone confirm if I will get interest on my joint flexdirect account! (my wife and I have one each and also a joint account)

I see that some people are saying they got it and others haven't,
have had a look at some posts but hard to do so on my phone with a poor signal, so sorry if this been asked a million times.

We recieved interest on mine and wife's account , but have opened
Other one since and haven't tried with that one yet

DragonQ

Depends if you opened it before 19/03/2013. If you did, then yes. If not, then no.

sabretoothtigger

They arent paying interest on any account I opened with them in March. I wonder what the overdraft rate is, is that on offer and when would they tell me

amictus

It doesn't sound as though I'll be getting interest on the last three of the four accounts I opened. I was thinking of making use of the free overdraft on one or more of the non-interest paying accounts (I didn't do so during the application process).

Have others done something similar?

sabretoothtigger wrote: »

They arent paying interest on any account I opened with them in March. I wonder what the overdraft rate is, is that on offer and when would they tell me

Were you able to find out details on the overdraft situation?

Hominu

If you don't have an overdraft on them already you'll have to apply for one, which may involve another credit check (which may be internal - ie, not seen by other lenders).

YorkshireBoy

owains wrote: »

It doesn't sound as though I'll be getting interest on the last three of the four accounts I opened.

Wait and see. I am.

I was thinking of making use of the free overdraft on one or more of the non-interest paying accounts (I didn't do so during the application process).

Have others done something similar?

I took the max £2.5K facility on all my 3 FlexDirect accounts during the application process.

My accounts have been sitting with large credit balances all this month. Because I'm not sure they'll honour either the 5% rate or the fee-free overdraft on two of my accounts*, and the penalty for me if they don't could have been £30 (50p per day x 30 days x 2 accounts), my intention is to empty all the accounts, including £7.5K of overdraft facility, for the last two days of the month.

If I'm hit with £2 of charges I'll know it won't work. If, however, I don't get any charges, then I'll simply dump the whole £7.5K in my Halifax Online saver making 2.8% AER until June...and by then I'll have got a Santander 123 account sorted for 3% AER for the rest of the 12 month intro period.

That's the plan anyway!


* Condition 1.5 says...

"You will only be entitled to one introductory rate or offer (where applicable) on a Nationwide Group current account product."