Nationwide Flexplus account £10/month question

happyhero

Hi my wife was looking for new mobile phone insurance as she wanted to change and so looked for info on this site and found that Martin Lewis was suggesting the Flexplus current account for this. It offers loads of benefits and says it will cost £10 per month.

She liked it and opened an account and loads of paperwork subsequently came and she logged online to look at the currently empty account (she will transfer some money in to take advantage of the interest rate offered soon) and what she is wondering is why there is no mention either in the paperwork or online in her account about this monthly payment so she is asking me to check everything and I cannot see any reference to it anywhere, also we have not been asked to set up a direct debit to pay it either, so can anybody explain what happens please?

Have we miss-understood something, is it taken as a lump sum at some point or do we have to do something, surely she is not getting all the benefits (including phone insurance) for nothing, what have we missed?

Any help appreciated.

innovate

What is the monthly fee on a FlexPlus account and when is it taken?
The £10 monthly fee is taken on the last day of the month (even if this is a working day or bank holiday).

The first monthly fee will be taken at the end of the month after you have opened your account. For example, if you open your account on 1st February the first monthly payment will be taken on 31st March.

Source: http://www.nationwide.co.uk/current_account/flexplus/faqs.htm

If she does not have at least £10 in her account when they charge it, she will go into an unarranged overdraft (unless, of course, she has an agreed overdraft on the account)
Overdraft fees: http://www.nationwide.co.uk/current_account/flexplus/rates-fees-charges.htm

Gizmo247

Answered in the FAQs here: http://www.nationwide.co.uk/current_account/flexplus/faqs.htm

Note to self: Must learn touch-typing to avoid being beaten my inov8