Nationwide Flexidirect account

Baschen20

Hi

I'm thinking of opening a Flexidirect courrent account with Nationwide. According to the website, the daily arranged overdraft usage fee is 50p a day. However it also says that the overdraft is interest-free for the first 12 months. I'm confused.......

Gromitt

What is there to be confused about?

The overdraft is interest-free for the first 12 months, after then charges apply, as stated on the website.

grumbler

I think confusing is that interest-free doesn't necessarily mean fee-free or charges-free.

Gromitt

Well people on here have withdrawn the whole of the overdraft and stuck it in interest paying accounts, so I'd say that means its both fee free and charges free for the first 12 months, as stated on the website.

YorkshireBoy

Gromitt wrote: »

Well people on here have withdrawn the whole of the overdraft and stuck it in interest paying accounts, so I'd say that means its both fee free and charges free for the first 12 months, as stated on the website.

It is, or rather they are...because I've done just that with 3 of mine (£2.5K on each).

Back to the OP, as far as I'm aware the details for this account on their website don't mention anything about debit interest. Why would they, being as they don't charge it on this account...only fees of 50p/day after the first 12 months!