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

xylophone

If you are a non-taxpayer, have you completed R85 for all your interest paying accounts?
https://www.gov.uk/apply-tax-free-interest-on-savings
http://www.nationwide.co.uk/internetbanking/forms/r85.pdf

bubbles0169

no i havent, thanks for that

adindas

I am aware that there are quite a few people who has multiple Nationwide Flex direct account confirmed that they got interest of 5% for all account.

As the interest has been paid for this month. Those who has multiple Nationwide flex direct.
Do you get the interest of 5% for all account for this month ?

Also those who has OD facility, did not you get OD fee for using OD facility for more than one account ?

thank you for your time

AlwaysLearnin

Answers are in this thread, only a few posts back (e.g. #364)

purplestar133

YorkshireBoy wrote: »

4.89% is the gross p.a. rate (the 'a' stands for annum, ie year). 365 is the number of days in the year.

All that's doing is calculating the daily interest figure...gross before tax deducted. Multiplying by 0.8 deducts the 20% savings interest tax.You are.Smart move!

Thank you very much for your help, that's very clear.

iAMaLONDONER

innovate wrote: »

It always amazes me how the MSE massive seems to be able to kill off any significant loophole, mostly without realising that they are killing off the loopholes.

Don't even ask if you don't know what I am on about.

I guess that's why you have to act fast before they close them!

billchecker1

Sorry for opening up a new thread:

Has anyone opened up new flexdirects recently? My wife and I have one of these each. If I was to open another one for each of us woudl I still get the 5%?

How does it work with existing logons/passwords?

nimdy

billchecker1 wrote: »

Sorry for opening up a new thread:

Has anyone opened up new flexdirects recently? My wife and I have one of these each. If I was to open another one for each of us woudl I still get the 5%?

How does it work with existing logons/passwords?

I applied for my third this week (the others were when the product was launched in March). I haven't put the full amount in yet (but have cycled £1k) and its part way through the month, so I'll see what happens with interest next month.

billchecker1

I think I am going to give it a shot. As my esaver @ 3% has now ended and the 123 account I had got to replace it is capped at 10K.

Do you know if haveing more accounts actually goes on your credit file?

innovate

How do you get a 123 capped at 10K?

I think all current accounts get reported to the CRAs but unless you go overdrawn, or are imminently planning to apply for a mortgage or other large credit, there is nothing to worry about.