Nationwide FlexDirect - 5% interest, free overdraft

Hominu

callum9999 wrote: »

How exactly are Nationwide "taking me as a mug" considering I haven't given them a penny yet in return am getting decent free European travel insurance and 5% interest on a large chunk of my savings?

I assume they are talking about the fact that the bank is making billions per year and giving you £100 of that. Considering the alternative of stuffing my money in a safe and getting 0%, I think I prefer the bank taking me as a mug.

Then again, the company I work for makes millions per year and I get a tiny fraction of that, so maybe they are taking me as a mug as well, despite the fact that I'm more than happy on what I earn each month (although not as happy when I see how much the tax man has taken. grrrr...)

KTF

ses6jwg wrote: »

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

I believe the person who used to think up similar promotions for A&L moved to Nationwide.

Not that I can find any evidence to back this up at the moment but I remember reading something along those lines.

opinions4u

Hominu wrote: »

I assume they are talking about the fact that the bank is making billions per year and giving you £100 of that. Considering the alternative of stuffing my money in a safe and getting 0%, I think I prefer the bank taking me as a mug.

Then again, the company I work for makes millions per year and I get a tiny fraction of that, so maybe they are taking me as a mug as well, despite the fact that I'm more than happy on what I earn each month (although not as happy when I see how much the tax man has taken. grrrr...)

In the case of Nationwide, £0.2bn. Before tax.

BugsyBrowne

My Dad has always told me forget about savings accounts and pensions buy property instead.

surfsister

BugsyBrowne wrote: »

My Dad has always told me forget about savings accounts and pensions buy property instead.

mine too but what can you buy for £2,500 these days!!`lol!

xyz123

innovate wrote: »

Did you check the Nationwide website? Did you read this thread? Ta

Yes i did do a serch for "DD" or "debit" on this thread and nothing comes up in search.

surfsister

just wondering how long this offer might be available I am getting 5% for nat west for another few months but would like to use this account when it ends. buy may be safer to open now now???

BugsyBrowne

surfsister wrote: »

mine too but what can you buy for £2,500 these days!!`lol!

Even if someone has 60k say you could buy an half decent house up north for that and rent that out for £400 plus a month I mean what savings account will pay £400 a month with a 60k balance.

My old man has 3 property's only flats and only 2 of those are paid outright but all 3 are full of residents and he's laughing.

innovate

BugsyBrowne wrote: »

My Dad has always told me forget about savings accounts and pensions buy property instead.

What are you doing here then?

KTF

xyz123 wrote: »

Yes i did do a serch for "DD" or "debit" on this thread and nothing comes up in search.

The short answer is 'no' as per the details here which is what Innovate was hinting at.

http://www.nationwide.co.uk/current_account/flexdirect/default.htm?intcmp=Intcmp_1712