Nationwide FlexDirect - to open new or to upgrade?

fiesta04

Nine_Lives, as you are soon to get a Mortgage it may be wise to stop applying for Accounts at the moment. There will still be others to open.

Surely your main concern is, obtaining a Mortgage, so put Bank Accounts on HOLD otherwise you may regret it.

F4

Nine_Lives

Thanks, but I wasn't really asking for myself as I already have one. The rest of the family have FlexAccounts & were also interested but some didn't want to open a separate account if upgrading would be better ... So I asked. None of us are big Europe travellers - hence that comment.

DragonQ

I opened a new account because I'm going to Europe later this year and will need the travel insurance that comes with the FlexAccount. If you don't need it, just upgrade.

Nine_Lives

Having never traveled really before (outside of the UK), how much does insurance cost? I mean, if it's say £50 per journey then it's nothing major really for the amount that we do.

YorkshireBoy

Nine_Lives wrote: »

Having never traveled really before (outside of the UK), how much does insurance cost? I mean, if it's say £50 per journey then it's nothing major really for the amount that we do.

http://www.moneysavingexpert.com/insurance/cheap-travel-insurance

But remember...there's travel insurance, and there's travel insurance! Be sure to read the small print, as cheapest isn't always the best.

Nine_Lives

We've established you can 'upgrade' FlexAccount>FlexDirect

Can you go the opposite direction though - ask Nationwide to turn your FlexDirect>FlexAccount?

rb10

Nine_Lives wrote: »

We've established you can 'upgrade' FlexAccount>FlexDirect

Can you go the opposite direction though - ask Nationwide to turn your FlexDirect>FlexAccount?

You can ... but the option doesn't appear to be online (yet?).

Nine_Lives

When upgrading your account FlexAccount>FlexDirect

Does the name of the account change on your online banking?

My brother upgraded his FlexAccount & got a letter saying that it was approved & had changed. He logs on to find that it's still called a FlexAccount.

grumbler

The name does change.
Similarly, I received the letter before the account was really changed.

If there was some balance, the first transaction in the new account is transferring the balance.

Nine_Lives

Thanks.

Maybe it'll all get sorted on Monday since he received the letter today - a weekend.

He's already funded his [FlexAccount] with £1000 this month. Do you know whether that's the 5% sorted, or would he have to re-fund it with £1k as it's now a FlexDirect account (in order to get the 5%)?