Nationwide FlexDirect Downgrade:

jrm

Hi. I have several Flexdirect accounts which are outside the 12 month period for earning interest. Rather than close them ( might come in useful later ). Is it possible to downgrade them to Flexbasic accounts therefore allowing me to apply for a new interest paying FlexDirect account.

YorkshireBoy

Not sure about FlexBasic, but FlexAccount is possible...

http://www.nationwide.co.uk/support/support-articles/faqs/current-account-faqs/flex-direct-faqs#xtab:i-have-a-flexdirect-account-can-i-change-it-to-a-flexaccount

EarthBoy

You definitely can't downgrade them to a FlexBasic because one of the criteria for getting a FlexBasic is that:

"You don't qualify for one of our other current accounts."

http://www.nationwide.co.uk/products/current-accounts/flexbasic/apply#tab:Howtoapply

As you clearly do qualify for one of their other current accounts, the FlexBasic is off limits to you.

Dan83

I'm not 100% sure, but I think I read in the T&C's when I opened my flex direct, you have to have the account !!!! for 12 months before they will let you have another with the 5% interest

ceredigion

Dan83 wrote: »

I'm not 100% sure, but I think I read in the T&C's when I opened my flex direct, you have to have the account !!!! for 12 months before they will let you have another with the 5% interest

Can't
.....

[Deleted User]

Wouldn't you have to "not hold a FlexDirect" for 12 months before opening another? i.e. Wait a year from doing the downgrade?

YorkshireBoy

I think Dan was intending to type "shut" and hit 'i' instead of 'u'.

ceredigion

And got !!!!

Kernel_Sanders

YorkshireBoy wrote: »

I think Dan was intending to type "shut" and hit 'i' instead of 'u'.

That's poppy !!!!.