Nationwide Flex plus

Daddy942

could I just transfer £10 a month and get all of the benefits apart from the interest ?

colsten

It seems so....but are the benefits worth £120 to you a year?

Mr_Goodkat

Yes you can, the only requirement on the account is to pay the £10 per month fee.


But you can also get 3% on up to £2.5k as well so useful as a savings pot as well.


I have a Flex Plus and is great especially as a joint account and the total cover for a couple are easily worth £120 a year however if some of the benefits do not apply to you e.g. international travel insurance or you are a single account holder then suitable cover could be achievable elsewhere for less than £120 per year.

jimjames

colsten wrote: »

It seems so....but are the benefits worth £120 to you a year?

I got the ad when I logged on to NW Internet banking this morning. I've never bothered with packaged accounts before but this caught my eye so I did some calcs.

My RAC was due for renewal as was my travel insurance. I'm off to Europe this month and was going to take out breakdown cover.

Just on those 3 things alone it would have cost me £240

RAC £100
Travel Ins £60
Euro Breakdown £80

So I'll save £120 and not have to pay it all out in one go plus I get phone cover for 5 phones in the family which I've never bothered with before. I just need to keep an eye on the cost if it increases in future.

Unlike most packaged accounts this one from Nationwide actually looks worthwhile.

colsten

jimjames wrote: »

Unlike most packaged accounts this one from Nationwide actually looks worthwhile.

I agree and I have had the account myself ever since it became available. But this doesn't need to hold true for everybody - e.g. someone not driving, or having a company car, might not see the value of a breakdown cover.

I also keep £2,500 in my FlexPlus so the monthly interest effectively halves the monthly fee (I couldn't get more interest on the £2.5K since I am maxed on the higher paying accounts).

msallen

I _currently_ just pay the £10 per month for the insurance (I travel a lot and the insurance is better than many cheap policies, add that to the breakdown cover and its easily worthwhile) - the interest is an extra bonus of course, but as I'm currently only just about using all the higher interest accounts I have, this account is only a fallback to actually keep a balance in.

Lomcevak

Like others, I have a FlexPlus account for the insurance, as it's considerably cheaper for me than buying separately.

I've just had a letter from Nationwide saying that there are changes to the FlexPlus insurance policy terms, accompanied by a 20-page policy changes booklet and a second 18-page phone insurance policy changes booklet. As far as I can tell from a first read through there's nothing in there that's a significant change to the insurance coverage, but it's far from clear. Wondered if anybody else has looked through and spotted something nasty that I might have missed?

TheEffect

Quidco are now offering £80 cashback for the Flex Plus account.

Bargain!

http://www.quidco.com/nationwide-flexplus-current-account/?ac

Bertie_Cheapskate

Fantastic tip there from TheEffect That really does settle it for me.

Vortigern

Bertie_Cheapskate wrote: »

Fantastic tip there from TheEffect That really does settle it for me.

This thread (and that tip) is from 2014.

Quidco cashback is still available for account switches, but is now only £35. (or £38.50 from TCB)

ceredigion

Bertie_Cheapskate wrote: »

Fantastic tip there from TheEffect That really does settle it for me.

06-09-2014
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