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

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  • Gromitt
    Gromitt Posts: 5,063 Forumite
    ColdIron wrote: »
    Do banks do credit checks for savings accounts?
    Only if that savings account offers a credit facility.

    I opened 3 current accounts last month and was instantly accepted for a FlexDirect today, bringing the number of my used & funded current accounts to 10.

    I do wonder if I'm going to hit a point at sometime when I'll be refused for having too many. After all, its possible to have an unarranged overdraft with all of them!
  • Alex92_2
    Alex92_2 Posts: 342 Forumite
    I setup nationwide account on monday and still havent received anything in the post. Hopefully will get something early next week and then will start opening them up online. Not any point me doing it now, as I will just have to wait another 5 days to receive it.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Gromitt wrote: »
    I opened 3 current accounts last month and was instantly accepted for a FlexDirect today, bringing the number of my used & funded current accounts to 10.

    I do wonder if I'm going to hit a point at sometime when I'll be refused for having too many.
    I haven't found that "point" yet, and I have 16 current accounts.

    Just considering whether to go for one (or two if possible) of these Nationwide accounts (in addition to my standard FlexAccount).
  • plunt
    plunt Posts: 525 Forumite
    Part of the Furniture Combo Breaker
    would be great if the staff could merge this thread some how with this thread:

    https://forums.moneysavingexpert.com/discussion/4472901
  • beansy
    beansy Posts: 410 Forumite
    Part of the Furniture Combo Breaker
    After seeing this online I popped into my local branch to ask if the new flex account had the free travel insurance and as I expected was told it didn't.

    However, the manager informed me that there is a 3rd Flex account being launched I think he said on 11 March and details will be released next week so don't going jumping in just yet.

    He said there would be a small monthly charge but it will have a lot more benefits, ie WW travel insurance again, free mobile insurance and a good interest rate. I asked if it would be similar to the 123 and he said yes but he didn't think the balance for the higher interest would be as much as Santanders £20000! He wasn't permitted to give me any more information but asked if I would like to make an appointment for early next week to see an advisor.

    Will wait to see what they unveil next week before jumping in.
  • plunt
    plunt Posts: 525 Forumite
    Part of the Furniture Combo Breaker
    beansy wrote: »
    After seeing this online I popped into my local branch to ask if the new flex account had the free travel insurance and as I expected was told it didn't.

    However, the manager informed me that there is a 3rd Flex account being launched I think he said on 11 March and details will be released next week so don't going jumping in just yet.

    He said there would be a small monthly charge but it will have a lot more benefits, ie WW travel insurance again, free mobile insurance and a good interest rate. I asked if it would be similar to the 123 and he said yes but he didn't think the balance for the higher interest would be as much as Santanders £20000! He wasn't permitted to give me any more information but asked if I would like to make an appointment for early next week to see an advisor.

    Will wait to see what they unveil next week before jumping in.


    great news! always nice to hear about new accounts! i seem to be racking up current accounts and my excel spreadsheet is getting pretty hard to keep up to date! Please update us if you hear anything further!


    cheers

    P
  • beansy wrote: »
    After seeing this online I popped into my local branch to ask if the new flex account had the free travel insurance and as I expected was told it didn't.

    However, the manager informed me that there is a 3rd Flex account being launched I think he said on 11 March and details will be released next week so don't going jumping in just yet.

    He said there would be a small monthly charge but it will have a lot more benefits, ie WW travel insurance again, free mobile insurance and a good interest rate. I asked if it would be similar to the 123 and he said yes but he didn't think the balance for the higher interest would be as much as Santanders £20000! He wasn't permitted to give me any more information but asked if I would like to make an appointment for early next week to see an advisor.

    Will wait to see what they unveil next week before jumping in.

    After reading the two threads on this I was just about to jump in and open 3-5 accounts now, but then I read your post...........Think I'll just open the two for now and see what next week brings too.
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    Alex92 wrote: »
    Remember, you wont have to get cards for every account - its optional.

    There is no option to say you don't want a card for the FlexDirects (same was/is the case for FlexAccounts). You can, however, specify whether you want a cheque book (default is "no" - - very sensible!).
    Alex92 wrote: »
    I cant see how it owuld have a negative effective on CR, unless you constantly hit/use overdraft and dont repay it?
    Each and every full credit search will lower your "creditability" for a while (how long, and by how much, depends on individual financial institutions and only insiders would have the answer. None of them in their right mind would share the details on the internet (or in the pub or elsewhere) but if you make many applications in a short space of time, you are bound to experience the effects. A current account application is a full credit search.
    plunt wrote: »
    would be great if the staff could merge this thread some how with this thread:

    https://forums.moneysavingexpert.com/discussion/4472901

    Oh yes, it definitely would.
    Mind you, it wouldn't stop MSEers to post the same question a dozen times.
  • ceredigion
    ceredigion Posts: 3,709 Forumite
    Eighth Anniversary 1,000 Posts Photogenic
    Please excuse what is probably a basic question, i'm fairly new to this game.
    Any way , whats the best ,most convenient way of continually moving money around in order to satisfy the t&c . If you have multiable accounts in the same place. Furthermore , how long does it take to move say £1k into an account and out again and into another.
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