Nationwide FlexDirect C/A - 5% on 2K5 no fee

Moneygrabber24

The only reason I can think of why existing customers' applications aren't going through straight away is if you have applied for an overdraft which is essentially applying for credit and may therefore slow things down and will have an impact on your credit file/score especially if you are applying for an overdraft on every flexdirect application in such a short period of time.
In the 3 flexdirect applications I applied for I didn't ask for an overdraft and got the accounts opened straight away as an existing customer......I don't know if this is the reason? I'm guessing so....

Bubba

Sorry forget to say in my previous post that I only have a savings account with Nationwide and not any current accounts, credit cards, loans etc.

I did say to the them on the phone that I may have submitted 2 applications by mistake as computer was playing up and she said not to worry, she would delete the duplicate one.

Looking forward to receiving paperwork in post.

carlo_koko

How to set up "new "DD as I got already some DD attached to another account,so can't move them? do they need to be active.
Beside Setting an active DD of 1£ to my favorite charity ?
Any suggestion to comply with 2 DD requested by Halifax?
Cheers.

Hominu

Moneygrabber24 wrote: »

The only reason I can think of why existing customers' applications aren't going through straight away is if you have applied for an overdraft which is essentially applying for credit

Opening the account without any overdraft is still asking for credit as you can still spend what you don't have.

ccbrowning

Hominu wrote: »

Opening the account without any overdraft is still asking for credit as you can still spend what you don't have.

Really? I thought if you didn't ask for overdraft that any attempt to use the card for more money that was in the account would simply result in a decline.

ctdctd

ccbrowning wrote: »

Really? I thought if you didn't ask for overdraft that any attempt to use the card for more money that was in the account would simply result in a decline.

Nope - it would probably allow it and you then be running an unauthorised overdraft. That's what bank accounts do.

innovate

carlo_koko wrote: »

How to set up "new "DD as I got already some DD attached to another account,so can't move them? do they need to be active.
Beside Setting an active DD of 1£ to my favorite charity ?
Any suggestion to comply with 2 DD requested by Halifax?
Cheers.

There is no requirement for any DD for the FlexDirect account.

For Halifax, please check the Halifax thread.

persa

I already have a FlexAccount.

Am I right in saying that maximum advantage will be gained if I open a new FlexDirect account (rather than an upgrade), increase my monthly standing order from my FlexAccount to my non-Nationwide joint account by £1,000, set up a new standing order from my joint account for £1,000 to my FlexDirect account and sweep any balance over £2,500 into any other Nationwide account (e.g. eSavings Plus)?

innovate

You need to fund the FlexDirect monthly from a non-Nationwide source.

persa

innovate wrote: »

You need to fund the FlexDirect monthly from a non-Nationwide source.

I get my wages paid into my FlexAccount each month - are you saying that to benefit from both the FlexAccount and FlexDirect, I need to pay my wages into another (non Nationwide) account and then fund both Flexs with this? Or can I just cycle part of my wages through a non-Nationwide account?