Nationwide FlexDirect - 5% interest, free overdraft

innovate

Nationwide can sometimes be a bit slow, particularly when they have been hit with a lot of new applications. Might be worth following up with them next week though.

AndyPK

What's the first contact I would expect? Email or letter?

innovate

It sounds like you aren't a current Nationwide customer. In which case, I don't know the answer to your Q because I had my confirmation through my online banking with Nationwide.

If you are new to them , I would call them. 0800 30 20 10 is the cheapest number.

TDPIX

We applied on a Thursday and received the documents through the post the following Thursday.

nimdy

Are overdrafts offered when opening an account? I'm sure I didn't get the option.

AndyPK

Yes you do get an OD option.

Astraeus

AndyPK wrote: »

Yes you do get an OD option.

I did not get the overdraft option. I have seen no indication of what overdraft I can expect which is the key reason for me opening this account.

Typically, what size overdrafts have people been offered?

AndyPK

I phoned them up on wednesday to chase them up.
My application had been approved but somehow stuck in the system.
She sorted it the same day.

I recieved paperwork through the post saying I have a £1000 overdraft.
I applied for the maximum whatever that was.
The letter reads like I should have already recieved other paperwork.

flossy_splodge

There was an option but I think it could be easily missed!
Can anyone tell me, if you have more than £2500 in the account, what happens with the balance over £2500? Do you get ANY interest on that and does it impact the interest on the first £2500?
Thanks.

innovate

You get interest on up to £2.5K, regardless of how much your actual balance is.