Nationwide flexplus query

[Deleted User]

Now that you have the flexplus, you can open a flex regular saver which will give 5% interest - move £500 a month to that from the £2500 that you have in the flexplus over 5 months, and you'll make an extra bit too.

jimjames

MARTYM8` wrote: »

Just a heads up but if you want to apply for a NW current account you may be eligible for the refer a friend scheme - if a friend recommends you before you apply then you get £100 and so do they if you open an account within 90 days and switch in with two DDs.

Apply via quidco or topcashback and you may be lucky and get another payout on top of the £100 from £35 to £75 depending on the offer in place. But that's a bit hit and miss if you do refer a friend as well.

Even better if they then recommend you and you switch an account you both get another £100 each. (Obviously only if you've not switched to them before)

I've now had 2 occasions to use the breakdown cover, once in France and once here. Both were very efficient so definitely worth the £10

YorkshireBoy

jimjames wrote: »

Even better if they then recommend you and you switch an account you both get another £100 each. (Obviously only if you've not switched to them before)

If you've previously switched to them you can still get another £100 each, so long as the previous switch was more than 12 months ago.

ericonabike

Just to update - had to use their holiday insurance a few months back when my wife took a tumble in Portugal. Claim paid promptly with no need for anything other than a claim by phone on our return. Am delighted with product.

Kernel_Sanders

ericonabike wrote: »

So once the net interest is deducted from the £10 monthly fee, I'll be paying £60 a year for worldwide insurance for two 60+ customers [inc golf and winter sports] plus better breakdown insurance than I'm currently paying £140 a year for.

No, you'll still be paying £120 per year. I'm afraid the thinking behind Colsten's calculation is at fault. This is because you could just as easily get that 3% on a Tesco current a/c, which also has no obligations. To try and offset the interest against the account fee is a nonsense.

jem16

Kernel_Sanders wrote: »

No, you'll still be paying £120 per year. I'm afraid the thinking behind Colsten's calculation is at fault. This is because you could just as easily get that 3% on a Tesco current a/c, which also has no obligations. To try and offset the interest against the account fee is a nonsense.

It all depends on circumstances. If you're already using other accounts for that purpose then this could be a bonus and the interest will offset the fee.

jem16

jimjames wrote: »

Even better if they then recommend you and you switch an account you both get another £100 each. (Obviously only if you've not switched to them before)

Something to consider but I'm running out of direct debits as they're being used elsewhere to get rewards etc.

I've already got a Flex account but was interested in the extras provided as travel insurance and breakdown insurance are due for renewal.

I've now had 2 occasions to use the breakdown cover, once in France and once here. Both were very efficient so definitely worth the £10

Good to hear.

colsten

jem16 wrote: »

Something to consider but I'm running out of direct debits as they're being used elsewhere to get rewards etc.

No regular on the MSE Budgeting & Bank Accounts, or the Savings & Investment board should ever need to run out of DDs. :cool: