nationwide flex plus account

older_wiser

I had a flex direct account but the 12 month 5% ended in august i've now switched to the plus account the insurance pays for the ten pounds fee itself.

But today i got the new card and its a contactless card i don't have an overdraft and even if i go into the overdraft settings it says an overdraft isn't allowed on this account. This also happend on my previous Flex direct account i was told previously in posts that perhaps it was a cashcard in all but name ?

Do you think the new Flexplus contactless card can be used on trains or can it only be used if a connection to the bank can be made at payment ?

for clarity i have other contactless cards with OD so other banks think i'm a safe bet.

dr_adidas01

older_wiser wrote: »

I had a flex direct account but the 12 month 5% ended in august i've now switched to the plus account the insurance pays for the ten pounds fee itself.

But today i got the new card and its a contactless card i don't have an overdraft and even if i go into the overdraft settings it says an overdraft isn't allowed on this account. This also happend on my previous Flex direct account i was told previously in posts that perhaps it was a cashcard in all but name ?

Do you think the new Flexplus contactless card can be used on trains or can it only be used if a connection to the bank can be made at payment ?

for clarity i have other contactless cards with OD so other banks think i'm a safe bet.

I can't comment on your personal overdraft with nationwide as I got one when I opened my account. It maybe that they want to see how you use the account before considering if they will give you an overdraft. You could always give them a call to see what your options are and if they will consider you for an overdraft in future.

As for the contactless bit of your card it depends on the retailer, sometimes when I've used it it doesn't take it from my account for a few days, then yesterday when I used it in M&S the amount had been deducted from my available funds immediately.

So I think its down to the way the retailer processes these types of payment.

As for trains I don't know as i've yet to use a train that offers contactless payment.

overlander

The original poster has a valid point, even if the overdraft is £10 hardly any risk. I know that accounts which you cannot take a overdraft out are treated differently from cards where you refuse an OD. Personally I would not touch an OD with a barge pole but got a card and refused the OD. As I too found out that if you use a card with no OD facility like cashcard it get rejected on trains etc.

older_wiser

thanks for the reply i've been with nationwide for over 16 months so i would expect that to be enough time to be evaluated it was my main account over that time but now that is the new TSB account i opened last june which again is contactless with OD but i've never used it.

I only upgraded the flex direct to a flex plus for the insurance and other benefits as it pays for itself in my circumstances i know for others it might not do though.

My query was more that i can't even request an OD as it says no OD can given to this sort of account which to me indicates a cash account.

I won't lose sleep over it lol but i've never really understood that bit and wondered if anyone could shed some light on it.

Joe_Bloggs

@older_wiser
The overdraft mystery is between you and Nationwide. Ask them if you think they should let you have one. It makes financial sense to you to have one, if it avoids the cost of an accidental unauthorized overdrawing charges due to some contactless card error.

It is understandable to run this account lean and keep most of your money elsewhere. The cost of doing this is eternal vigilance in monitoring your transactions.
J_B.

TheEffect

When I had a Nationwide Flex Plus account (closed now) they didn't offer me an overdraft, and I received the 'You cannot have an overdraft on this type of account' message. As for my debit card, it always seemed to connect to the bank and remove the funds from my available balance immediately, even at retailers that don't with my other debit cards, like my local Tesco (for small amounts).

overlander

I should point out I still use my cashcard as my main working account as I hate the thought of banks making a single penny of my account. Only open up any other account if they have a good interest rate like santander 1-2-3 then close it down. Banks hate these basic accounts and that sits well with me.

Toe-Jam

I too have a Flex direct with no overdraft. I used the contactless in Mc Donalds today for the first time and it authorised it "online". My other cards never do in Mc Donalds.

msallen

I don't see why the fact the card is contactless should have any bearing - are you getting confused between contactless and online/offline?

I have a FlexPlus account with an overdraft and a contactless card, but as it happens I haven't really used the account since the interest rate dropped after a year - I now just transfer £10 a month in to cover the costs as I consider £10 a month a good deal for the travel insurance, breakdown cover, mobile phone insurance and to enable me to get the FX fee free Select credit card.

Archi_Bald

msallen wrote: »

I have a FlexPlus account with an overdraft and a contactless card, but as it happens I haven't really used the account since the interest rate dropped after a year

The interest rate on the FlexPlus did not drop after a year. It is still 3%. You must be confusing the account with the FlexDirect although the FlexDirect has, of course, no insurance etc.

101problems

My understanding is a contactless card is a fully operational offline card, this is based on the fact that I have never once had a contacctless card transaction either declined or immediately show up on my pending transactions for my debit card and also a friend with another bank didn't want contacctless and they said no problem but you have to have an visa online Card if you don't want contactless.
funnily enough though my credit card does show pretty much straight away but I geuss there is no such thing as an online credit card...