Nationwide FlexDirect - 5% interest, free overdraft

innovate

anoncol wrote: »

6? I didn't thinks you could have that many?

There you go. Things you didn't think possible can be possible sometimes. ;)

liamcov

Are they all FlexDirect and if so, do you get 5% on all of them?

Dimey

Sorry to ask a really niave question..... why do you all open multiple accounts in the same building society?

Are you transferring the same monthly deposit from one account to another to earn 5% each time?

I don't understand why you don't just keep it all in one account.

I'm just not familiar with this kind of thing but I'm interested to learn.

YorkshireBoy

Dimey wrote: »

Sorry to ask a really niave question..... why do you all open multiple accounts in the same building society?

I don't understand why you don't just keep it all in one account.

This account (Nationwide FlexDirect) has a £2.5K max interest earning balance restriction.

BoS, Lloyds, & TSB are all £5K max.

Some people have more than this to save!

Dimey

YorkshireBoy wrote: »

This account (Nationwide FlexDirect) has a £2.5K max interest earning balance restriction.

BoS, Lloyds, & TSB are all £5K max.

Some people have more than this to save!

Ah, with you. Thanks.

innovate

liamcov wrote: »

Are they all FlexDirect and if so, do you get 5% on all of them?

Definitely more than one FD, and yes.

chamelion

liamcov wrote: »

Are they all FlexDirect and if so, do you get 5% on all of them?

all FD, all 5%.

derrick

I may be opening one,(or more), of these, 2 quick questions.

1) Is it still possible to open more than one and receive the 5% interest on all? (chamelion reckons they have 6,all @ 5% interest).

2) Re the £1000.00 per month deposit, can it be done "in reverse" ? I mean if you have £2500.00 in the account, can you transfer £1000.00 out by FP to another current account, then FP it back to Nationwide? As I already have 3 Halifax Rewards this would also fulfill their T&C's at the same time.

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typistretired

1) Yes you can my friend has 5 but the last 2 took a few weeks to open this month and they had to sign a form stating they had read the terms and conditions.
2) Yes you can it can be done "in reverse".

derrick

If trying for more than one of these accounts is there a preferred time scale to leave between opening the first and subsequent accounts?
And would you be able to use the first CA number to open others, or would it be better to use the Invest Direct account I already have with them?

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