Nationwide Flex Direct after 1 year

colsten

bjbyorkshire wrote: »

Flipping Heck, I now get it,

congrats

bjbyorkshire wrote: »

which Tesco account I could use for setting up these direct debits from.

Internet Saver and/or Instant Access Savings account

bjbyorkshire wrote: »

can I set up more than one d debit on the Tesco account to pull from for instance Santander and Halifax?

yes

Just do it.

bjbyorkshire

Hallelujah! I will do it. My poor brain is now in melt down but at least I understand the principle here before I open a couple of accounts and find that they were not what I wanted.

Great help from this forum so thanks to you all.

darkidoe

YorkshireBoy wrote: »

As a couple, you can get £130.5K into 3-5% paying current accounts as follows:

£6K @ TSB paying 5%
£7.5K @ Nationwide paying 5%
£15K @ Lloyds paying 4%
£30K @ BoS paying 3%
£12K @ Tesco paying 3%
£60K @ Santander paying 3%


And those are listed in account opening priority (as I see it anyway). Obviously you've used up Nationwide but I post it for the benefit of others.

Lloyds and Santander require DDs (easily sorted!), with the former needing to pay out each month.

If you've an income on top, or simply want to drip-feed from the 3% accounts, then you can get £1.3K per month into 5% and 4% regular savers from TSB and Lloyds respectively.

Oooh tell me you have all of them opened and filled to the max! Bank accounts are like collectibles nowadays isn't it? It just excites me whenever I open a new account. Lol.

Vortigern

mapk wrote: »

Returning to the OP's original question, just wondering whether it's necessary to go in to a branch to close the FD account.

In Nationwide online banking, on the "Manage" tab, there is an option to "Close Account"

It apparently would allow me to close any of the accounts I have, including current account, ISA, and credit card.

Archi_Bald

Vortigern wrote: »

In Nationwide online banking, on the "Manage" tab, there is an option to "Close Account"

It apparently would allow me to close any of the accounts I have, including current account, ISA, and credit card.

The online function just provides you with a form to print.

To request to close this account, please complete, print and post this form

Might be easier to pop into a Branch and ask them to close it. They can do that at the welcome desk.

Vortigern

Archi_Bald wrote: »

The online function just provides you with a form to print.

Thanks. I wondered what might happen after the next click, but didn't dare to try it.

Archi_Bald wrote: »

Might be easier to pop into a Branch and ask them to close it. They can do that at the welcome desk.

I'm happy to pay the price of a stamp to avoid a trip to town (esp in December.)

:xmastree: :rudolf: :xmastree:

YorkshireBoy

Vortigern wrote: »

I wondered what might happen after the next click, but didn't dare to try it.

I was more brave (in post #26).

bjbyorkshire

Hello it's me again, can I just check this with you. I have opened 2 Tesco current accounts, one for hubby and one for me to get the 3% interest. If I immediately apply for 2 more exactly the same, one for each of us, does this still allow us to also have another joint account or are two accounts in each of our names the max. £12,000 maximum?

I will then open a Tesco Internet saver account just to use for the direct debit pull in facility. One account only would let me pull any amount of direct debits wouldn't it?

Thanks

YorkshireBoy

bjbyorkshire wrote: »

Hello it's me again, can I just check this with you. I have opened 2 Tesco current accounts, one for hubby and one for me to get the 3% interest. If I immediately apply for 2 more exactly the same, one for each of us, does this still allow us to also have another joint account or are two accounts in each of our names the max. £12,000 maximum?

I will then open a Tesco Internet saver account just to use for the direct debit pull in facility. One account only would let me pull any amount of direct debits wouldn't it?

Thanks

Max 2 current accounts each, held in whatever capacity. So that's 2 sole each (£12K), or a sole each and a joint shared (£9K).


Answer to your second question is yes, but according to the T&Cs only from an account in your name (whether sole or joint). If you want to pull from each others accounts you'll need a joint account.

polymaff

bjbyorkshire wrote: »

I will then open a Tesco Internet saver account just to use for the direct debit pull in facility. One account only would let me pull any amount of direct debits wouldn't it?

Thanks

We each have two Internet Savers so that the 2 DD pulls applied to a target account look more like two independent DDs (one by each IS).

Another suggestion. Don't make the DDs too small. It has been reported on MSE that wise guys setting up 99p DDs have been kicked out by Tesco which, once you've become dependant on this mechanism would be bad news indeed. We use £5.x9 - looks like a bona fide pull and, after all, you can always claw it back.