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Potentially stupid question - FlexDirect

Gers
Gers Posts: 13,565 Forumite
Part of the Furniture 10,000 Posts Photogenic Name Dropper
in Savings & investments
Maybe it is a daft question but I'm going to ask it anyway....

Just funded a new Nationwide FlexDirect account this afternoon with the £2.5K and am assuming that I don't have to cycle £1K through it too for this month - would that be correct?

I may have to hid under a rock now!

:o

Comments

  • alanq
    alanq Posts: 4,216 Forumite
    1,000 Posts Combo Breaker
    As long as at least £1000 of the £2500 didn't come from another Nationwide account I can think of no reason that you would need to make a further deposit.
  • badger09
    badger09 Posts: 11,771 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Gers wrote: »
    Maybe it is a daft question but I'm going to ask it anyway....

    Just funded a new Nationwide FlexDirect account this afternoon with the £2.5K and am assuming that I don't have to cycle £1K through it too for this month - would that be correct?

    I may have to hid under a rock now!

    :o

    Might get a bit crowded - just head over to the ISAs sub forum :eek:
  • Gers
    Gers Posts: 13,565 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    alanq wrote: »
    As long as at least £1000 of the £2500 didn't come from another Nationwide account I can think of no reason that you would need to make a further deposit.

    Thanks - been mulling it over in my mind for a couple of hours so now it's at rest.

    :beer:
  • Gers
    Gers Posts: 13,565 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    badger09 wrote: »
    Might get a bit crowded - just head over to the ISAs sub forum :eek:

    Hate crowds... :D
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    badger09 wrote: »
    Might get a bit crowded - just head over to the ISAs sub forum :eek:

    Too right. There I spend all year long making my spot under the rock really cosy. Got a nice woodburner in this year, given the never-ending freeze. Then the annual cash ISA-innocents pour in and suddenly the place isn't yours any longer. They'll be gone in a couple of weeks, though, so peace and quiet will get restored. :)
  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    Wait (I've haven't been to look) but I assume that just, because the tax year is about to change, the same repetitive questions about allowances.. timing.. choice of provider.. making a transfer.. making a DIY transfer.. timing.. getting 3% if the account is opened for one day.. etc..etc.. are being asked on that forum?

    Meanwhile the OP is quite correct that their opening deposit for the full amount to a FlexDirect meets the monthly funding. [There also used to be a £5 underfunding fee.. has Nationwide excised that from the new terms and conditions.. anyone can take that?]
    .....under construction.... COVID is a [discontinued] scam
  • Gers
    Gers Posts: 13,565 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Milarky wrote: »

    Meanwhile the OP is quite correct that their opening deposit for the full amount to a FlexDirect meets the monthly funding.

    Thanks...I am now reassured.
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    Milarky wrote: »
    There also used to be a £5 underfunding fee.. has Nationwide excised that from the new terms and conditions.. anyone can take that?

    No underfunding clause any longer

    (and you are spot on ref the perennial ISA questions and hysteria)
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