Nationwide flex basic ?

debtorwithaquestion

Just really really curious as to why nationwides new basic account : flex basic is so good compared to the other offerings.

For the simple fact that you automatically get a contactless card which for even some of my full 'normal' current accounts I am still being denied this privalige ...

Why can't other banks offer contactless as standard and not credit check them: I know these cards can push people into debt but surely people should only spend what they have and if they abuse it the card is stopped or account closed.

Any thoughts?:eek:

Steve_xx

It's only good if you can't get a normal account that offers in-balance interest or some other perk, like an overdraft facility.

Most other banks do provide you with contacless cards if you open one of their accounts today. You seem to have made a link between the provision of a contactless card and a credit check. There is no such link between the two.

stclair

Who do you have normal current accounts with?

Steve_xx

stclair wrote: »

Who do you have normal current accounts with?

Santanders' 123 current account is an instance.

EarthBoy

debtorwithaquestion wrote: »

Why can't other banks offer contactless as standard and not credit check them:

You will be credit checked for a FlexBasic account due to the fact that you're only eligible for it if you don't meet the criteria for one of their other current accounts, so they have to credit check you to decide that.

debtorwithaquestion

I just find it weird (but equally good on nationwides part) that I have a DRO and therefore a bankruptcy market on my credit file- yet Santander and TSB which are full current accounts won't allow me a contactless card whereas RBS and nationwide do

colsten

It's because Santander and TSB take a different view from Nationwide and RBS about the risk they'd take, and also not everybody actually does want a contactless card. It's good that there are differences between banks and between accounts. It keeps competition, and thereby value for the customers, alive.