Nationwide Flexdirect

redux

Does this mean you've been asking generic questions without details, or specific ones but supplying wrong information yourself, and then complaining that the answers are wrong?

Oh dear.

colsten

Dear God. :wall:

It is, of course, possible that there's some person in Nationwide, calling themselves a manager, who doesn't have a clue about their T&Cs. Such people are not entirely unheard of in the financial services industry.

What is clear, however, is that the written T&Cs overrule anything an employee says, or even writes in an email. You might be able to screw out a few pounds of compensation if you can prove that an employee gave you incorrect information but the T&Cs will not get invalidated by such incorrect information.

redux

colsten wrote: »

Dear God. :wall:

It is, of course, possible that there's some person in Nationwide, calling themselves a manager, who doesn't have a clue about their T&Cs. Such people are not entirely unheard of in the financial services industry.

What is clear, however, is that the written T&Cs overrule anything an employee says, or even writes in an email. You might be able to screw out a few pounds of compensation if you can prove that an employee gave you incorrect information but the T&Cs will not get invalidated by such incorrect information.

Yes, but it depends what the exact question was.

If a customer asks can I open another account with that interest rate more than a certain time after a change to my other account, the answer would be yes.

If the customer also says then would you please check my original account, as I can't remember when I opened it, that is slightly different.

Without that specifically being asked, and on some platforms even if it is, the age of the account might not be immediately visible to the staff member.

And without that question it might also be fair to assume by default that a customer would know the age of an account, as a mixture of online access to the account and letters about opening the account and especially the start date on the debit card might be sufficient help

Hazzanet

I was told something similar to Derrick.

In a nutshell, they said I can have 5% for one year, 1% for one year, change the FlexDirect to a FlexAccount at the end of year two then next day re-'up'grade to a FlexDirect the next day and I can have the 5% again.

I have a recording of the call and have listened to it several times to ensure that I didn't misunderstand.

colsten

Hazzanet wrote: »

I was told something similar to Derrick.

In a nutshell, they said I can have 5% for one year, 1% for one year, change the FlexDirect to a FlexAccount at the end of year two then next day re-'up'grade to a FlexDirect the next day and I can have the 5% again.

Totally wrong, too, as it does not meet the T&Cs. Also it's total poppycock that you have to have the FD for a year on 1%.

Hazzanet

colsten wrote: »

Totally wrong, too, as it does not meet the T&Cs. Also it's total poppycock that you have to have the FD for a year on 1%.

I know. Which is why I insisted it be moved back to a FlexAccount rather than leave it as a FlexDirect.

Seems they don't know their own product.

bristolleedsfan

colsten wrote: »

Also it's total poppycock that you have to have the FD for a year on 1%.

Note the words/term used by the poster you quoted was "can have" as opposed to "have to have"

Grandad's_Offspring

I don't understand.
I have had a flexaccount since the beginning of banking it seems. Last december I called NW because I had £2500 to put into a good account. They said: no worries, apply for a flexdirect. So I did. Which means I now have a flexaccount and a flexdirect. In december 2016 my 5% on balance of up to £2500 from the flexdirect will come to an end. I'll get 1%.
After december 2016 I will have to wait another 12 months before I can open another flexdirect with the 5% interest.
What do I do with the intial 'matured' flex direct account? Do I downgrade it? Do I upgrade the flexaccount to a flexdirect after the 12 months

Reading this thread only added to the confusion. I thought the easiest way was to close it, wait 12 months, open another flexdirect.

Archi_Bald

Grandad's_Offspring wrote: »

What do I do with the intial 'matured' flex direct account? Do I downgrade it? Do I upgrade the flexaccount to a flexdirect after the 12 months .

In order of preference:

1. switch it to a bank that pays you a switching bonus
2. downgrade it to FlexAccount (e.g. to have it in reserve for future switching offer by another bank)
3. close it

You must have a clean 12 months period without having a FlexDirect account before you can hope for another one with 5% again.

Ashen

How easy is it to downgrade to a FlexAccount? And if it needs to be done by phone rather than internet, what sort of details would you need?

Thanks