nationwide flex plus account

msallen

Archi_Bald wrote: »

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.

Really? I must check that then thanks. I made a note of (what I thought were) the main T&Cs on opening it, and have relied on that rather than checking directly with NW again. As it happens it doesn't really matter as 3% is my 'base level' for interest (in my Santander 123) before I move it elsewhere for more, so I haven't actually lost anything. That'll teach me to be more careful though!

Toe-Jam

101problems wrote: »

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 .

There are at least 1/2 a dozen contactless cards that are online cards. All prepaid contactless cards authorise in real time. The Nationwide one I have definitely takes a few seconds longer to beep when you tap it and you can see on the screen is says authorising then approved. The balance on the account updates straight away also.

dr_adidas01

101problems wrote: »

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...

No there are quite a few contactless cards that are online cards, and will always check to see if funds are available before authorising a payment.

My Nationwide contactless card 9 times out of 10 doesn't show as as a pending transaction or reduce my available balance. There have however been instances mostly when using it in M&S food hall where for some reason it does an online authorisation and reduces my available balance immediately.

I'm guessing its the way that M&S have decided to process contactless payments by making them online authorisations.

Archi_Bald

msallen wrote: »

Really? I must check that then thanks.

Yes, really. 3% AER variable on up to £2,500, no time limit.
http://www.nationwide.co.uk/products/current-accounts/flexplus/rates-fees-overdrafts#tab:Ratesfeesandampoverdrafts

As you say, it might not make any difference if you manage to get the 3% (or more) elsewhere.