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Nationwide FlexDirect
Comments
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You seem to be getting a grip on things now, agree with your overall assessment.I'm just going to go into a Nationwide branch now and check that I can actually do what I intend on doing.
Why?? FlexDirect is an online only account, anyway. The Branch folks will tell you what makes their targets...and that is unlikely to include FlexDirect. Ask here instead.
What light do you need to be shed on it? All there is to know is on Quidco http://www.quidco.com/nationwide-flexdirect-current-account/, as well as some thread hereCould anybody shed any light on the requirements of the quidco offer?
You will, of course, not get anything from Quidco if you apply in Branch (though Branches are unlikely to take a FlexDirect application)0 -
Why?? FlexDirect is an online only account, anyway. The Branch folks will tell you what makes their targets...and that is unlikely to include FlexDirect. Ask here instead.
I suppose I just wanted some official reassurance that what I've planned is right and that I'm not going to get stung with a load of fees/charges.What light do you need to be shed on it? All there is to know is on Quidco http://www.quidco.com/nationwide-flexdirect-current-account/, as well as some thread here
I just want to know what I actually have to do to qualify for the £70. Do I need to transfer or can I just open an account and have two current accounts open? This would mean that I don't have to transfer my wage so that the DD goes into the Nationwide account?You will, of course, not get anything from Quidco if you apply in Branch (though Branches are unlikely to take a FlexDirect application)
Yeah obviously, I was planning on applying online once I had everything sorted anyway
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All the T&Cs and the fees and charges are online - - -a much better source than someone in a Branch. Because invariably Branch folks (not just at Nationwide) tell you porkies for a variety of reasons, not least because their personal targets and the online-only accounts are incompatible.I suppose I just wanted some official reassurance that what I've planned is right and that I'm not going to get stung with a load of fees/charges.
In any case, though, you have to be able to make sense of the written T&C and fees/charges information, regardless of whether you deal in Branch or online or a mixture of both. The written stuff is the only thing that counts.
It's not hard to get to grips with the T&Cs etc - - all can be found easily online, and people on here will answer questions if you seem to be genuinely stuck.I just want to know what I actually have to do to qualify for the £70. Do I need to transfer or can I just open an account and have two current accounts open? This would mean that I don't have to transfer my wage so that the DD goes into the Nationwide account?
Generally, the switcher services don't close your old account unless you explicitly ask them to. I have not used the Nationwide switcher service myself and don't actually know whether Nationwide will allow you to specify which of the DDs you want to transfer. You could ask Nationwide on 0800-30 20 10.
I haven't used a switcher service in a very long time myself but if I wanted to use one, I would probably set up a brand-new current account with a couple of "bespoke" DDs, and then ask the new bank to switch that account.0 -
All the T&Cs and the fees and charges are online - - -a much better source than someone in a Branch. Because invariably Branch folks (not just at Nationwide) tell you porkies for a variety of reasons, not least because their personal targets and the online-only accounts are incompatible.
In any case, though, you have to be able to make sense of the written T&C and fees/charges information, regardless of whether you deal in Branch or online or a mixture of both. The written stuff is the only thing that counts.
It's not hard to get to grips with the T&Cs etc - - all can be found easily online, and people on here will answer questions if you seem to be genuinely stuck.
Yeah, I'll definitely have a read beforehand but it's a bit daunting being faced with loads of confusing rules about what you can and can't do with the account.Generally, the switcher services don't close your old account unless you explicitly ask them to. I have not used the Nationwide switcher service myself and don't actually know whether Nationwide will allow you to specify which of the DDs you want to transfer. You could ask Nationwide on 0800-30 20 10.
I haven't used a switcher service in a very long time myself but if I wanted to use one, I would probably set up a brand-new current account with a couple of "bespoke" DDs, and then ask the new bank to switch that account.
Do I have to have any DD's at all? The QuidCo thing just says the following:Get £70 cashback when you open a Nationwide FlexDirect account and transfer to Nationwide from a non-Nationwide current account using their Account Transfer Service as part of the application process
In theory, I could go to a third bank such as HSBC and open a blank current account, then transfer from that to the Nationwide one? It doesn't stipulate that you have to have any DD's for the cashback OR the current account, does it?0 -
Your wages don't need to come into it. You've got £2500 sat in the FlexDirect, so you just move £1K+ of it out and back in again. Moving it back in counts as funding the account.I earn £750 per month and my bills are paid instantly.
If you've paid into the Barclays ISA since 6th April, it gets more complicated.but I want to put the excess into the Flexclusive 2.5% ISA along with a monthly contribution."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
Your wages don't need to come into it. You've got £2500 sat in the FlexDirect, so you just move £1K+ of it out and back in again. Moving it back in counts as funding the account.
If you've paid into the Barclays ISA since 6th April, it gets more complicated.
I think it was right at the end of the last tax year when I last paid in.. I chose an easy access isa anyway so it shouldn't matter too much.0
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