Switching to Nationwide FlexDirect

MorganaLF

Hi,

I'm thinking of switching to Nationwide FlexDirect, partly to take advantage of a TopCashBack offer, but mostly for the 5% interest.

Looking at the T&Cs I can see £1000 needs to go in a calendar month, but can't see anything about having to set up DD. Is that the case?

Thanks.

Paully232000

You don't have to set up any direct debits for this account

http://www.moneysavingexpert.com/banking/compare-best-bank-accounts

look here for the info on the requirements of many good interest accounts.

Joe_Bloggs

The Nationwide's account benefit lasts a year and then turn to mush. It will become another account transfer project needing some other account transfer incentive, etc .Clearly the Nationwide board think that fleeting short term consumer engagement is the way forward.
J_B.

Paully232000

Joe_Bloggs wrote: »

The Nationwide's account benefit lasts a year and then turn to mush. It will become another account transfer project needing some other account transfer incentive, etc .Clearly the Nationwide board think that fleeting short term consumer engagement is the way forward.
J_B.

Maybe so, but the amount of time it takes to swap at the end of the 12 months is worth the 5% i would say:)

Archi_Bald

Joe_Bloggs wrote: »

The Nationwide's account benefit lasts a year and then turn to mush. It will become another account transfer project needing some other account transfer incentive, etc .Clearly the Nationwide board think that fleeting short term consumer engagement is the way forward.
J_B.

Most people don't have a problem changing their clothes and shoes from time to time. Why they would want to keep a bank account for life when changing it can be faster, and less expensive, than buying a new shirt is a mystery to me.

MorganaLF

Thank you everyone for the replies.

I am aware it is only an introductory offer and have no problem swapping accounts when the 5% is up.