nationwide flex basic account

debtorwithaquestion

Hi all

On nationwides website they've revealed that as of 01st December their cash card account is changing to a FlexBasic account which will mean:

-there are absolutely NO bank charges at all for failed or missed payments or unauthorised overdrafts (eg pay at pump or contactless payments that aren't immediately checked)
- EVERYONE on this account gets a contactless card which is great as most banks require a certain credit score for this to be eligible.

- will be able to use card abroad and withdraw cash

- anyone on a cash card account now will be moved over on 01sr December to the new basic account.

Honestly this account seems brilliant for the very fact anyone can get one and it is generous in its features for those of us who have gone bankrupt. Advice is if you're going bankrupt or into an IVA or DRO this year set up a nationwide cash card account so you'll benefit when the change happens in December.

:j definitely switching to use my nationwide account now

tigerfeet2006

Have Nationwide changed their policy then and will allow people who are currently BR to have an account? Will be great if it is true.

Thunderballs_2

My account has changed to Flex Basic in my Nationwide online banking area.

No new card through the post as of yet (unless I already have this new card - how would I know ?)

Bank charge issue welcome ...

alltaken

Thunderballs wrote: »

My account has changed to Flex Basic in my Nationwide online banking area.

No new card through ther post as of yet (unles i already have this new card - how would i know ?)

Bank charge issue welcome ...

My partner has this account and you have to request the new card, otherwise it's a default replacement when your current card expires.

A4445

I wonder if they will let you upgrade to a normal flex account once you have a history with them.
Is the flex basic credit checked?

alltaken

They do credit check but solely to check your status for a more applicable account, let us not forget that these basic products bare no charges. They want charge paying customers and they will review the account regularly and upgrade you automatically unless you object when notified of the pending change.

TheGardener

Something similar happened to my cash card account with Barclays - I received a letter saying the account had been changed to a Barclays Basic Current Account and that the £8 unpaid transaction fee would no longer be charged (glad to say I've never had an unpaid transaction fee anyway) Nothing else appears to have changed except the name.

....it was closely followed by an application form for a Barclay Card...

betterdaysahead

TheGardener wrote: »

Something similar happened to my cash card account with Barclays - I received a letter saying the account had been changed to a Barclays Basic Current Account and that the £8 unpaid transaction fee would no longer be charged (glad to say I've never had an unpaid transaction fee anyway) Nothing else appears to have changed except the name.

....it was closely followed by an application form for a Barclay Card...

Just out of interest - how long after your BR did this happen? Whilst it was still on your credit file or once the 6 years were up?

TheGardener

The letter came 2 weeks ago but I'm still well within the 6 years and due to some issues with CRA's my file clean up is not yet complete so I thought it was a universal thing and they were doing away with the cash card account. :j

betterdaysahead

TheGardener wrote: »

The letter came 2 weeks ago but I'm still well within the 6 years and due to some issues with CRA's my file clean up is not yet complete so I thought it was a universal thing and they were doing away with the cash card account. :j

That's great news. Hopefully other banks will start doing the same now. It'd be nice to think that they can judge us more on how we are managing our finances now than any problems we have had in the past. I had two Cashminder accounts at Co-op but switched one of them to the Yorkshire Bank last week to take advantage of the £150 incentive. Hoping that I'll be upgraded on one of them at some stage in the next couple of years. I know I can do everything I need to with the basic accounts but it would maybe just be the feeling that things are improving if that makes sense.

A4445

I have a cash minder account with the CoOp they won't upgrade you to a normal account while your bankruptcy is on your credit file. I asked a few years back and was given that answer!