Nationwide Flexdirect question

Kips247

I was stupid and hadnt realised it only had the 5% rate for 12 months - i've switched to a halifax reward account last weekend. Can i open a new flexdirect account or is there a waiting period before i can open a new one?

grumbler

12 months after closing this one (if you want to get 5%).

• Opening Multiple accounts?

MABLE

Kips247 wrote: »

I was stupid and hadnt realised it only had the 5% rate for 12 months - i've switched to a halifax reward account last weekend. Can i open a new flexdirect account or is there a waiting period before i can open a new one?

You can open another account at any time and provided your credit score is good enough you can have an overdraft facility on that account. However to get another 5 percent your old account has to be closed for 12 months otherwise you will only get 1 percent.

jimjames

Kips247 wrote: »

I was stupid and hadnt realised it only had the 5% rate for 12 months - i've switched to a halifax reward account last weekend. Can i open a new flexdirect account or is there a waiting period before i can open a new one?

Are you aware the Halifax reward pays no interest? You get £5 per month if you meet criteria but you get that on £0 balance.

TSB still pay 5% on their account.

Biggles

I thought the interest was paid on the last working day? Nothing so far.

Ed-1

Biggles wrote: »

I thought the interest was paid on the last working day? Nothing so far.

It's paid on the last day of a month (working day or not if I remember rightly) in the update around half ten at night.

Biggles

Ed-1 wrote: »

It's paid on the last day of a month (working day or not if I remember rightly) in the update around half ten at night.

Thanks, Ed, I hadn't remembered that it was usually that late.