FlexDirect -> FlexAccount -> FlexDirect

ricz_1

Hello Moneysavers,

I currently hold a Flexdirect account which is about to hit the 12 month anniversary and so drop down to 1% interest. I'm planning on changing this to a FlexAccount to take advantage of the free European travel insurance, and then back to a FlexDirect in 12 months to get the 5% interest again.

From the Ts & Cs it seems like this would be all fine and dandy (they stipulate that you cannot have held a FlexDirect within 12 months to take advantage of the 1st year bonus) but was wondering if anyone else had been in the same position and had it all work out?

Cheers!

Rich.

Archi_Bald

FlexDirects became available on 01/03/2013 so nobody can as yet have had a clear 12 months between FlexDirects. Whether anyone gets paid 5% on their second round will not be known until late on March 31 at the earliest.

There's obviously nothing stopping anyone from opening another FlexDirect when their 12 months 'rest period' is up, and expecting that they would get 5% for 12 months on that account.

ricz_1

Thanks Archi.

vixen1500

Archi_Bald wrote: »

FlexDirects became available on 01/03/2013 so nobody can as yet have had a clear 12 months between FlexDirects. Whether anyone gets paid 5% on their second round will not be known until late on March 31 at the earliest.

There's obviously nothing stopping anyone from opening another FlexDirect when their 12 months 'rest period' is up, and expecting that they would get 5% for 12 months on that account.

Thanks for the info - we had two flexdirects that closed in April 2014 so hoping that they will let you have another one

Archi_Bald

vixen1500 wrote: »

Thanks for the info - we had two flexdirects that closed in April 2014 so hoping that they will let you have another one

Unless you already hold 4 Nationwide current accounts, you can certainly get another FlexDirect. Whether it pays 5% or 1% is a different matter.

anna42hmr

Archi_Bald wrote: »

Unless you already hold 4 Nationwide current accounts, you can certainly get another FlexDirect. Whether it pays 5% or 1% is a different matter.

Fingers crossed they will allow it, I am going to give it a go, my previous one matured on 31 March 2014 and I closed the account on 4 April 2014, i have started the process of applying for their normal Flex account this weekend with the intent to upgrading to the FlexDirect after 5 April 2015.

So I will see what happens and if they pay the 5% again or not (if the rate stays at 5% by then)