Nationwide Flex Direct

zerog

bluebell321 wrote: »

No letter for me yet. One opened in March and one opened in September.

Same but presume it will arrive shortly. Does the letter say which of the accounts will continue to get 5%?

typistretired

zerog wrote: »

Same but presume it will arrive shortly. Does the letter say which of the accounts will continue to get 5%?

claireo7 stated "
Anyone else had a letter saying they are definitely restricting the 5% gross interest rate offer to the first account only?"

So I would expect the first account opened.

My first account was a conversion of a flexaccount to a flexdirect account which was also a joint account. My husband and I also have a single one each. So from what the letter says we should be allowed to have 5% on 3 accounts.

Kendal

zerog wrote: »

Same but presume it will arrive shortly. Does the letter say which of the accounts will continue to get 5%?

Yes the letter does say which account will continue to get 5%. I converted an old flex account in March, I opened a second flex direct in September and a third one in October maybe this is what triggered the letter . Surprisingly the letter says the 5% will continue on my second account opened in September !!

DragonQ

I might leave the accounts open so I have accounts to switch if any other banks decide to offer £100 or whatever to switch.

apt

With 7 day switching it is more likely that you'll have to agree to close the account. That's the case with the current Halifax £100 switching offer.

alanq

claire07 wrote: »

Anyone else had a letter saying they are definitely restricting the 5% gross interest rate offer to the first account only?

Yes. See this discussion on the savings board. (FlexDirect now being seen as more of a savings account than a current account by some members).
https://forums.moneysavingexpert.com/discussion/4819261

innovate

apt wrote: »

With 7 day switching it is more likely that you'll have to agree to close the account.

If you want the guarantee that comes with the 7-day switching, you have no choice - your old account does get closed, full stop.

Banks may or may not still offer any switcher service that doesn't necessitate the closing if the old account. If they do, and you choose to use that service, you do not get any guarantee of whatever sort.

It's been mentioned lots and lots and lots of times that 'DIY switching' is a doddle, so you can open a second bank account easily without sacrificing your existing one. Though you shouldn't expect any of the banks to pay you a switching incentive now unless you can give them a sort code and account number to be closed.

anoncol

I got my letter at the weekend. I've got 2 months of 5% on all my accounts remaining. As it happens we just spent loads of it on a kitchen any way so sod you NW .

roxy28

Got mine as well yesterday.

phred

Mine arrived today.
I suppose I'll have to go in to my local branch on 14th January and close the three accounts no longer paying 5%.