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New Nwide Flex 5% acct - upgrade queries

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Comments

  • Warning read the small print
    1) You have ot pay in at least £1000 a month
    2) Transfers from other Nationwide Accounts do not count

    So to make sure you get the benefit you will at the very least have to
    a) Withdraw a £1000 pounds in cash and pay it in to the new account
    b) Transfer £1000 out of the Nationwide and back
    c) Have an account outside of the natiowide that has £1000 in a month to transfer
  • simax
    simax Posts: 1,977 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    a) Withdraw a £1000 pounds in cash and pay it in to the new account
    b) Transfer £1000 out of the Nationwide and back
    c) Have an account outside of the natiowide that has £1000 in a month to transfer

    Obviously you only have to do one of the above, not all three. LOL
    I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂
  • Hominu
    Hominu Posts: 1,671 Forumite
    c) Have an account outside of the natiowide that has £1000 in a month to transfer

    So if you don't have an alternative current account, you could open a Tesco savings accounts and transfer 1K into that, then login to Tesco and transfer it back. Not even a credit check required.

    Its amazing how flexible the Tesco savings accounts are, they seem to be used for everything :D
  • Hominu wrote: »
    So if you don't have an alternative current account, you could open a Tesco savings accounts and transfer 1K into that, then login to Tesco and transfer it back. Not even a credit check required.

    Its amazing how flexible the Tesco savings accounts are, they seem to be used for everything :D
    I think that would work but best read the small print there was a small asterisk on the web page that stated "new money into Nationwide"
  • Hominu
    Hominu Posts: 1,671 Forumite
    I don't think they can tell the difference between 'new' money and 'old' money. They can tell where the money is coming from and going to, but thats going to be a lot of tracking for the sake of giving someone 5% on 2.5K.
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