Nationwide FlexDirect - 5% interest, free overdraft

adindas

innovate wrote: »

Of course internal transfers will work, but you will not get the interest, or the Flexaccount benefits, or Flexclusives if the monthly minimum amount doesn't come from a non-Nationwide source.

Good point. I wonder if there is written information about this on T&C or in their ads.

If not then people could dispute it with NW.

Gromitt

adindas wrote: »

Good point. I wonder if there is written information about this on T&C or in their ads.

If not then people could dispute it with NW.

It clearly states on the website:

"Any external payment into your FlexDirect account will count towards the monthly £1,000 total requirement, in other words a payment which does not come from another Nationwide account."

Can't say clearer than that!

DreamerV

grumbler wrote: »

"First-come, first-served" principle seems to not work at NW.

Yes, it seems the staff (or computers) are becoming more efficient at setting the accounts up! I'd be miffed but I have other stuff to worry about. Sigh. Never mind.

veryintrigued

BugsyBrowne wrote: »

Max out 4 Flexi direct accounts 10k and that will bring you in £8 a week,No wonder the banks shareholders ride around in gold plated bentleys.

Heck I thought I was on the ball. Nationwide is a bank now and has shareholders?

I best give them a call and get my carpet bagging money....

BugsyBrowne

veryintrigued wrote: »

Heck I thought I was on the ball. Nationwide is a bank now and has shareholders?

I best give them a call and get my carpet bagging money....

Bank or building society either way they're taking customers as mugs.

innovate

Shock horror -- - I never thought I'd find myself quoting a Daily Mail article, but their current account interest comparison table is actually really good!

Where are the MSE money editors?

Gromitt

innovate wrote: »

Shock horror -- - I never thought I'd find myself quoting a Daily Mail article, but their current account interest comparison table is actually really good!

Only because they didn't do it and instead used MoneyComms, so rather than squinting at that small table, grab the proper one:

http://moneycomms.co.uk/wp-content/uploads/2013/02/Current-account-credit-interest-comparison-1-March-2013-no-links.pdf

innovate

Gromitt wrote: »

Only because they didn't do it and instead used MoneyComms, so rather than squinting at that small table, grab the proper one:

http://moneycomms.co.uk/wp-content/uploads/2013/02/Current-account-credit-interest-comparison-1-March-2013-no-links.pdf

Ah yes, you are right, now that I put my magnifiers on, I can see the credits to MoneyComms. Still a damned good table!

Edit: mind you, they left off BoS. But we can all imagine it to be there with the same details as "Lloyds TSB Current Account with Vantage"

ses6jwg

Looks like they stole the idea from Alliance and Leicester 4 years ago.

BobQ

So if you create a FlexDirect account and deposit £2500 in it and transfer £1000 per month to to a Santander 123 account and transfer £1000 the other way on the same day you get 5% on the NW account and 3% on the 123 account and neither do anything to stop you wasting their time?