Flexdirect nationwide

ad10

Ok, this seems to make more sense. I paid in some money half way through and a few days later transferred most of it out.

So if I put 2500 into the account and keep it in there for the whole month, transfer most of it out on the 1st of the next month and put another 2500 into the account, I should receive the correct interest?? Sorry, the way it was explained to me when I called them prior to opening the account was that they would just need to see 2500 going in to the account at some point and then the money can be transferred back out or can be used to pay for stuff as and when I wanted to.

badger09

ad10 wrote: »

Ok, this seems to make more sense. I paid in some money half way through and a few days later transferred most of it out.

So if I put 2500 into the account and keep it in there for the whole month, transfer most of it out on the 1st of the next month and put another 2500 into the account, I should receive the correct interest?? Sorry, the way it was explained to me when I called them prior to opening the account was that they would just need to see 2500 going in to the account at some point and then the money can be transferred back out or can be used to pay for stuff as and when I wanted to.

Why would you want to take out the whole £2500 on 1st of the month (or any other date) and pay another £2500 into the account :cool:

Pay in £2500. Every month on say 2nd or 3rd just after interest has been credited, pay in £1000, then immediately transfer out £1000 + the interest. Simples

ad10

ahh this makes a lot more sense now, keep £2500 in the account each month and just move £1000 in and out of the account at some point in the month to qualify for the interest to be paid in to account.

So if I keep £2000 in the TSB classic plus account and just transfer in a minimum of £500 and back out again, I would get the 4.89% interest on that account each month too?

badger09

ad10 wrote: »

ahh this makes a lot more sense now, keep £2500 in the account each month and just move £1000 in and out of the account at some point in the month to qualify for the interest to be paid in to account.

So if I keep £2000 in the TSB classic plus account and just transfer in a minimum of £500 and back out again, I would get the 4.89% interest on that account each month too?

Yup

You can just shuffle £1k between those 2 accounts