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

rb10

Mine was converted from a FlexAccount on 3rd March, funded with £2,500 on 4th March, and was definitely earning 5% interest from that date.

Yet my letter says the rate remains at 5% until 1st April 2014.

Win!

Archi_Bald

ColdIron wrote: »

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

I deposited my £2,500 on March 2 2013 into a new FlexDirect. So I suppose I should be getting interest up to and inclusive March 1 2014 but Feb 28 2014 will do for me, especially since I also had nigh on eleven months of 5% on oodles of other FlexDirects.

badger09

I moved all but £5 from each of my 3 'additional' Flexdirects on 14 January (day after rate dropped to 1%) into Flexclusive Saver. I'm keeping them open for now, in case I decide to chase a new switching offer , but won't bother funding them every month.

The rate drops on my 1st Flexdirect, opened 19 March, on 18 March, at which point I'll also transfer all but £5.

Assuming cash ISA rates don't rise much in April, I'll probably whack the lot into my S&S ISA.

retiredin2011

I need to maintain a 'main current account relationship' with them to be eligible for the Select CC

I have just received a Select credit card for my holiday spending, does that mean I cannot close my flex account without Nationwide closing my credit card?

apt

Don't you want the free European travel insurance (which you can upgrade to worldwide for a small fee)?

iAMaLONDONER

retiredin2011 wrote: »

I have just received a Select credit card for my holiday spending, does that mean I cannot close my flex account without Nationwide closing my credit card?

Just leave the account open- I'm not sure if you're obliged to fund it with 750+ a month to have that CC

retiredin2011

Don't you want the free European travel insurance

What free travel insurance?

luci

retiredin2011 wrote: »

What free travel insurance?

The FlexAccount comes with free European travel insurance if you pay in £750 every month. You can upgrade to worldwide for £20.

YorkshireBoy

retiredin2011 wrote: »

What free travel insurance?

The free travel insurance that comes with your FlexAccount...

does that mean I cannot close my flex account

Unless you're confused and you don't actually have a FlexAccount, but a FlexDirect account instead (which is what this thread is about)?


Anyway, as to your question, their website says you need to maintain a 'main account' relationship with them in order to receive the (0.5%) cashback. I can't see anything that says you'll lose the 0% introductory rate or the free overseas usage, can you? Have you looked?


In your shoes I'd either keep the FlexDirect, or downgrade to the FlexAccount (in which case you'd need to cycle £750 a month) in order to secure all the benefits of the Select credit card. The added bonus of downgrading is the aforementioned free travel insurance.

xxdeebeexx

Very strange!


I received 'the' letter to say that the 5% interest was only going to be kept on the first Flexdirect account I opened and they gave the account number - the others would only get 1%.


The interest has been added this evening and my 'first Flexdirect 'had 1% interest added and the others 5% !!


dx