Timing current account transfer?

pollypenny

Thinking about moving to Nationwide Flex Plus, after being with Midland/HSBC all my adult life. Fed up with their carp interest rates, although we've always had good service.


Wondering when it's best to initiate the transfer. Probably immediately after our pensions go in?

Be interested to hear thoughts of those who have transferred before.

grumbler

pollypenny wrote: »

Fed up with their carp interest rates,

What interest rates are you attracted by at Nationwide?

nearlyretired2004

maybe 5% on up to £2500.....?????


(bare with me, but maybe he should of opened seperate accounts so that he could definately have been guarenteed unlimited withdrawels?)


Sorry ... just a bit of fun and I love reading peoples signatures!!!

Mr_Goodkat

grumbler wrote: »

What interest rates are you attracted by at Nationwide?

3% up to 2.5k on flex plus part funds the £10 a month and if the account is a joint one decent cover for a couple or family

Throw in the Halifax fivers, 123 interest & cash back, lloyds club, couple of TSB plus (multiple vantage and enhance whilst they last) , nationwide flex direct and Yorkshire bank plus couple of regular savers and the monthly fee is easily absorbed.

Plus 15 month interest free on purchases with the select credit card and 0.5% cash back

pollypenny

grumbler wrote: »

What interest rates are you attracted by at Nationwide?

3% on current account, 1.4% on instant savings.

However, the rest of the package suits us well: worldwide travel induce, insurance for two smart phones, breakdown.

grumbler

3% is just on £2.5K.
To apply for Loyalty Saver you have to wait for a year, and 1.4% isn't that much.
Do you really need mobile insurances in your age (no offense intended)?
Travel insurance is free with FlexAccount (+~£25 if you need worldwide).
UK fully comp breakdown costs just £39.

Just my thoughts - reasons why I prefer Santander123 + FlexAccount combination.

And when switching to any Nationwide account don't miss the opportunity to get £50 (at least): http://www.nationwide.co.uk/products/current-accounts/landing-page/recommend-a-friend

Re the timing, I don't see why you think that it's of any importance.

pollypenny

We both have smart phones. Mine is an iPhone for free iMessages to family in the USA. And yes, travel insurance for the USA is very important to us.

I wouldn't want leave more than a couple of thousand in a current account anyway. As for instant access savings, anything has to be better thsn HSBC at the mo!

grumbler

pollypenny wrote: »

We both have smart phones.

This doesn't answer the question I asked.
We have smartphones too, but we don't need the insurance. We have never had our phones damaged, lost or stolen. If this happens we can easily afford buying a replacement. Over the years we saved on insurance much more than a replacement can cost.

pollypenny

But for £120 a year we get the package, all of which we can use.

I wouldn't like to fork out the replacement price for my iPhone. And OH has had to pay £260 for travel insurance since he's now over 70 and doesn't qualify for it from HSBC.

grumbler

I can only repeat my point that you keep missing: 'can use' isn't the same as 'need'.

FlexAccount travel insurance is for up to 75 y.o.

It's not that I am advocating against FlexPlus. I am just making the facts clear.

Vortigern

pollypenny wrote: »

Wondering when it's best to initiate the transfer. Probably immediately after our pensions go in?

Best to do it just after your main direct debits have gone out.