Nationwide- flexdirect-multiple accounts

SMARTBLONDE

can anyone help please. I have recently opened 3 flexdirect accounts with nationwide, to avail myself of the 5% interest payable on £2500. I read their terms & conditions carefully before doing so & there is no prohibition on multiple accounts. I have today recieved a letter stating that in 2 months time they will reduce the rate to 1% on 2 of the accounts. Has anyone experienced the same? Has anyone held multiple accounts & recieved 5% on more than one?
I have of course lodged a complain.

innovate

What are you complaining about? It's stated very clearly on their website and in the T&Cs that you only get the 5% on one account. They are now enforcing this - as has been reported on this forum already.
https://forums.moneysavingexpert.com/discussion/4815847

Your complaint has absolutely no chance.

SMARTBLONDE

perphaps you would be kind enough to direct me to the specific term/ condition that states this.

typistretired

innovate wrote: »

What are you complaining about? It's stated very clearly on their website and in the T&Cs that you only get the 5% on one account. They are now enforcing this - as has been reported on this forum already.
https://forums.moneysavingexpert.com/discussion/481584

Your complaint has absolutely no chance.

innovate that link goes to a posting about a wrong direct debit taken not nationwide flexdirect.

EarthBoy

SMARTBLONDE wrote: »

perphaps you would be kind enough to direct me to the specific term/ condition that states this.

See under Important Information on this page:


http://www.nationwide.co.uk/current_account/flexdirect/rates-fees-charges.htm


Opening multiple FlexDirect accounts: Under the terms and conditions of this account customers are only entitled to one promotional credit interest rate of 5% AER. The only permitted exception to receive more than one promotional rate is if the additional account is held in joint names.
Any additional FlexDirect accounts held or more than one joint account held by you and another customer will result in the credit interest rate being reduced from 5% to 1% within 3 working days of the account being opened

Jevvers

I had the same letter and am of the opinion that it was good while it lasted. I am glad they have given 2 months' notice.

rb10

SMARTBLONDE wrote: »

perphaps you would be kind enough to direct me to the specific term/ condition that states this.

1.4 in the FlexDirect conditions.

leeroy2009

5% on multiple accounts has gone or is going - rip my other 3 flexdirects