FlexDirect accounts have been breeding!!

Gromitt

What are the chances of getting it next month though? I think Nationwide will be starting to 'adjust' the extra accounts we have, so it'll be a gamble.

£6.25 elsewhere guaranteed, or a possible £10 here, but maybe £0.

Are you willing to gamble your interest?

Moneygrabber24

No, there won't be any adjustment and you'll get the 5% interest on all the accounts for one year. They've paid the interest for the first month on all accounts so why would they adjust? Lloyds vantage accounts , all 3 of them, have been paying me 4% interest for the past 4 months, no difference....gud luck all

Gromitt

Moneygrabber24 wrote: »

No, there won't be any adjustment and you'll get the 5% interest on all the accounts for one year. They've paid the interest for the first month on all accounts so why would they adjust?

Because they can? The T&Cs and FAQ says they can.

Moneygrabber24 wrote: »

Lloyds vantage accounts , all 3 of them, have been paying me 4% interest for the past 4 months, no difference....gud luck all

Big difference: Lloyds vantage is guaranteed on 3 accounts. FlexDirect is only guaranteed for a single account and the rest can lose interest paying ability at any time.

Whilst I appreciate the interest, I fully expect them to fix this "issue" well before 12 months is up.

Moneygrabber24

Gromitt, there's no point arguing over this since it's the same situation as when everyone was debating in March as to whether multiple accounts would be paid interest come April 1st. The answer to that has been revealed. As to the debate you've now started let's just place a gentlemans bet. I bet you that all the multiple accounts will pay interest for the whole year! If you want to bet money on it as well, let me know, I'm up for it

Gromitt

Isn't that exactly what I said?

I didn't say you would or wouldn't. I said its a gamble, and it is.

Its nothing like Lloyds TSB Vantage which you compared it to.

The way I see it is that I'm currently £4 up compared to a 3% savings account. If I get no interest next month I'm £2 down. If I get interest I'm £8 up and so on. The longer I get interest the less I have to lose by Nationwide removing said interest.

Considering I invest in S&S I'm used to making money and losing money, so I'm going to leave my money in until it stops making me money.

mrmajika

Moneygrabber24 wrote: »

Yep I got 5% interest on all 4 flexdirect accounts so people like Hominu and mrmajika who were spouting off about the T&Cs not allowing more than 1 flexdirect to get 5% interest we're just chatting cr*p. They must be eating humble pie right now....ha

Nope. The T&Cs do say that, so I was talking the truth. It just seems the reality of it is that it's not being enforced.

And long may it continue; even for you Moneygrabber24.

:beer:

DragonQ

I think it says something like "only one offer", not specifically "only one account". Anyway, it'll be interesting to see if they continue paying out.

CKhalvashi

DragonQ wrote: »

I think it says something like "only one offer", not specifically "only one account". Anyway, it'll be interesting to see if they continue paying out.

We're still technically in breach of the t's and c's, so we should keep quiet on this.

CK

Fingerbobs

5% paid on all four accounts for me also :-)

DJBenson

CKhalvashi wrote: »

We're still technically in breach of the t's and c's, so we should keep quiet on this.

CK

"We" are not in breach of anything The terms and conditions specific to the interest rate relate to how Nationwide handle the account, there is a limit on the number of accounts you can open (4 is it?) but if Nationwide happen to pay to pay interest on your other accounts which you (legitimately if you go by the terms) opened then technically, isn't it Nationwide that are in breach of their own terms? :rotfl: