just opened nationwide account

sjh101

I have just opened a nationwide flex direct current account as it it had 0% overdraft for 12 months. The reason for this was because i was overdrawn in my natwest current account and they are putting big charges on being overdrawn. So i was going to use part of the free overdraft in my new nationwide to pay off my natwest overdraft. When filling out the application I had the chance to pick my overdraft allowance and the value I picked was successful.

After logging on to my new nationwide account, i noticed it has 0 balance which is correct as nothing has been put in yet. Underneath it it says 0 available? Should this not say the amount of my overdraft???

There is an overdraft tab to click on within my account and it DOES reveal I have my chosen amount of overdraft available. I'm just confused as it doesn't say that amount is available underneath my actual limit. It did on my natwest account which leadsme to believe It might just be the layout of the website but just wanted to see if anyone on here new. The last thing I want to do is transfer money to cover my old overdraft to find out that it isn't fully available yet.

Please advise if you understand what I'm talking about.

Thanks

100saving

i would think that there is just a lag in the online system and it will appear in the next few days but you could just drop them a call on 0800 30 20 10 to find out.

grumbler

My overdraft is not added to the available balance either.
I think this just varies from bank to bank.

YorkshireBoy

Perfectly normal for Nationwide.

If you go to make a transfer out (to NatWest) you'll see a message saying something along the lines of...

"You will be using your overdraft facility to make this transaction, but will remain within the overdraft limit. Click 'confirm' to continue".

chili1496

sounds like you plan on going overdrawn straight away...............

YorkshireBoy

chili1496 wrote: »

sounds like you plan on going overdrawn straight away...............

...which is a very good "plan", when the FlexDirect is 0% and the NatWest isn't!

Of course the OP needs to address/have addressed the reasons for the overdraft balance existing in the first place, and ensure it's repaid within the 12 month intro period...otherwise it could cost circa £15 a month (at 50p per day) from next summer!

megela

From memory Nationwide don't show it as available money the same as Natwest do.

It annoys me the way Natwest show the amount as available including the overdraft as I have to do the sums (admittedly a simple one) to work out how much 'real' money I have.