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

purplestar133

Is anyone that has moved the balance from their 2nd, 3rd, 4th or even 5th FlexDirects keeping the accounts open? If so are you just leaving say £1 in? And are you bothering to move the £1000 in and out every month?

ColdIron

purplestar133 wrote: »

Is anyone that has moved the balance from their 2nd, 3rd, 4th or even 5th FlexDirects keeping the accounts open? If so are you just leaving say £1 in? And are you bothering to move the £1000 in and out every month?

I've only got the one and it's ending in March, I'll leave £100 in it and fund it with £1,000 en route to their regular saver. I need to maintain a 'main current account relationship' with them to be eligible for the Select CC and any future flexclusive offers which are often quite decent

Joe_Bloggs

I have a FlexDirect that fizzles out March 1st. I also have a long standing Flexaccount which is for keeps. I only used the FlexDirect for the savings rate so I intend to switch the account and £2500 to Satander for the 3% rate.

The interest on the first £1000 of the balance effectively pays for Santander's account fees. I have saved for My Cash ISA allowance in Nationwide's regular saver and will move this for the 3% rate.

Nationwide have also stuffed me with a successive reductions on my cash ISA and Loyalty saver rates. My Flexclusive ISA will be transferred asap (I'll leave a few pounds in it).

The total to be moved is over sixteen thousand pounds. I do find it galling that every time I log in I am reminded of the FlexDirect rate that I can't have any more.

It was very good while it lasted but one must be pragmatic where money is concerned.
J_B.

rb10

Joe_Bloggs wrote: »

I have a FlexDirect that fizzles out March 1st.

It's worth checking the letter they sent/will send you about the drop in the rate - although I opened my FlexDirect at the start of March 2013, the rate doesn't drop until 1st April (so I'm actually getting just short of 13 months at 5%).

purplestar133

rb10 wrote: »

It's worth checking the letter they sent/will send you about the drop in the rate - although I opened my FlexDirect at the start of March 2013, the rate doesn't drop until 1st April (so I'm actually getting just short of 13 months at 5%).

I noticed that and wondered whether it was just a standard letter they sent to everyone. Well, clearly it was, but I suppose they can't drop the rate any earlier than 1st April now they've stated it in writing.

Gers

My letter says my offer rate ends on 24 March.

YorkshireBoy

Gers wrote: »

My letter says my offer rate ends on 24 March.

...and mine on 2nd April (the account was opened/funded on 3rd April last year).

Conclusion: They're individual letters, rather than a standard letter as suggested by 'purplestar133' above.

Archi_Bald

Mine ends on 28 Feb, exactly at the end of the 12 months I have had the account for

purplestar133

But rb10's and my letter state a date later than when we opened our accounts. Never mind!

ColdIron

Are you mixing up the date you applied and the date it was opened. It took them 9 days from applying to convert my FlexAccount