Questions RE: Nationwide FlexDirect

Jibeddy

Hi All,

Apologies for making a new thread on this as I've seen the information before elsewhere on here and on the main site but cannot for the life of me find it when I need it!

I was considering opening the aforementioned account to take advantage of the 1 year of 5% interest but I've had a spanner thrown in the works (maybe). I've just received an annual statement from Nationwide on my savings account; problem is I didn't even know I had it! It must be from at least 10 years ago when I was back in school.

To get to the point my questions are:

- is the 5% offer only available to new customers?
And if so, if I were to close this account, which I intend to (0.25% AER!), and cease being a customer of there's. How long would it be before I was considered a 'new' customer and therefore eligible for the offer?

Any help would be greatly appreciated.

YorkshireBoy

Jibeddy wrote: »

- is the 5% offer only available to new customers?

Do you see any such restriction on the Nationwide website? Have you looked?


Depositing £2,500 for a year will return £122.25 gross interest. However, if you switch into the account, rather than just opening one, via their refer-a-friend promotion you can near double this return by grabbing a £100 switching incentive.

[Deleted User]

The 5% Flex Direct offer is not restricted to new customers. I have been a customer of Nationwide for 20 years, and got the 5% Flex Direct account earlier this year.

[Deleted User]

I've been a savings customer of Nationwide continuously since 1998 and opened a FlexDirect account in May this year, paying 5% for a year. No problems.

bigadaj

Jibeddy wrote: »

Hi All,

Apologies for making a new thread on this as I've seen the information before elsewhere on here and on the main site but cannot for the life of me find it when I need it!

I was considering opening the aforementioned account to take advantage of the 1 year of 5% interest but I've had a spanner thrown in the works (maybe). I've just received an annual statement from Nationwide on my savings account; problem is I didn't even know I had it! It must be from at least 10 years ago when I was back in school.

To get to the point my questions are:

- is the 5% offer only available to new customers?
And if so, if I were to close this account, which I intend to (0.25% AER!), and cease being a customer of there's. How long would it be before I was considered a 'new' customer and therefore eligible for the offer?

Any help would be greatly appreciated.

As described above you can hold a flex direct alongside other accounts, you only get 5% for one year, but can reopen or upgrade after another year and get the 5% again.

Jibeddy

YorkshireBoy wrote: »

Do you see any such restriction on the Nationwide website? Have you looked?


Depositing £2,500 for a year will return £122.25 gross interest. However, if you switch into the account, rather than just opening one, via their refer-a-friend promotion you can near double this return by grabbing a £100 switching incentive.

I did look on the website, I could not find anything to suggest it however just wanted to confirm it and knew someone on here would have the answer. Thanks for the refer advice as well, need to just find someone who has an account.

Thanks everyone, helpful as always!