Nationwide 1st year 5% coming to end for me, where next?

The_pc_tech

Ok you sharp eyed lot.


Had a Nationwide 5% account I've used as a bill account since March last year but I know the intro rate is about to come to an end so am looking for an alternative.


Already have a Halifax reward but it appears their system enforces the one account per customer rule so its a no go.


Looked at Lloyds Vantage, anyone know if that's just a one year deal?


I'd rather not pay a monthly fee.


All suggestions welcome.

rb10

The_pc_tech wrote: »

Looked at Lloyds Vantage, anyone know if that's just a one year deal?

No, lasts for as long as they fancy paying 3%.

Santander 123 is the obvious choice for bills.

When your FlexDirect account finishes, if you change it to a FlexAccount then you'll be eligible to re-upgrade to FlexDirect in a year and get another 5% (assuming they still offer it then).

YorkshireBoy

Lloyds Vantage
BoS Vantage
TSB Enhance
YB/CB Current Account Direct


First 3 require £3-5K balance for 3% AER. YB/CB has no minimum, but pays 4% AER on up to £3K. All have min £1K per month funding requirement.


There's also Santander 1-2-3, but it doesn't sound like you'd have enough to make it worthwhile after the £24 per annum fee?...unless you can cover that with DDs generating cashback? But again, it needs £3K min balance to get the 3% AER.

The_pc_tech

I knew you'd be the man in the know

YB looks to be good, I'll sit and do the app tomorrow when I get home from work.

Turnover on the account is just over 1k, don't really want to pay fees to banks after paying 12 quid a month to smile all those years ago for basically diddly squat

Thanks

The_pc_tech

@rb10

Thanks also

retiredin2011

Does the YB have to have DDs going out?

innovate

No, just £1K in.

Move fast if you want it, rumour has it they will withdraw the account in Jan.

grumbler

rb10 wrote: »

When your FlexDirect account finishes, if you change it to a FlexAccount then you'll be eligible to re-upgrade to FlexDirect in a year and get another 5% (assuming they still offer it then).

Sure?

Under the terms and conditions of this account customers are only entitled to one promotional credit interest rate of 5% AER.

Possibly they aren't that strict and forget in a year, but I think nobody had an opportunity to test this yet.

rb10

grumbler wrote: »

Sure?
Possibly they aren't that strict and forget in a year, but I think nobody had an opportunity to test this yet.

According to the actual T&Cs:

Nationwide wrote:

You will only be entitled to one introductory rate or offer (where applicable) on a Nationwide Group
current account product. If you have previously held the same Nationwide current account product in
the last 12 months, you will not be entitled to the introductory rate or offer under this agreement.

I take that to mean that once you've not had a FlexDirect for at least 12 months, you are entitled to any promotional offer(s).

chili1496

The_pc_tech wrote: »

I knew you'd be the man in the know

YB looks to be good, I'll sit and do the app tomorrow when I get home from work.

Turnover on the account is just over 1k, don't really want to pay fees to banks after paying 12 quid a month to smile all those years ago for basically diddly squat

Thanks

tried to apply online tonight, however the app needed to be done over the phone so i thought sod it cannot be !!!!!d with that.

System

It is a bit of a hassle, but once opened it's a good account and worth having. I use the Clydesdale Direct Current Account as my main current account and have no complaints. Surely a little time on the phone is worth it for the 4% interest?