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Verifying Nationwide Monthly Pay-in
JarkayColt
Posts: 11 Forumite
I have just opened a FlexDirect account with Nationwide and want to take advantage of its one-year interest rate of 5% on the first £2,500, assuming a pay-in of £1,000 a month.
I don't earn £1,000 a month (yet) to add to the account, but I have read it is possible to move money through external transfers to meet the pay-in instead, so I could therefore move it from my ISA. However, after depositing this money into the account through a different bank, I see no way of checking if this has satisfied the monthly pay in.
I intend to move my ISA to a Flexclusive ISA but when attempting the transfer I encounter a page which states I cannot do this until I have opened a main current account and have paid in at least £750 in a month. So, as I now own the FlexDirect account, presumably my pay-in as described above did not register?
I have thought about moving it through paypal instead but was just wondering what other ways FlexDirect users have found that work (or any other accounts with monthly pay-ins). Any suggestions would be greatly appreciated.
I don't earn £1,000 a month (yet) to add to the account, but I have read it is possible to move money through external transfers to meet the pay-in instead, so I could therefore move it from my ISA. However, after depositing this money into the account through a different bank, I see no way of checking if this has satisfied the monthly pay in.
I intend to move my ISA to a Flexclusive ISA but when attempting the transfer I encounter a page which states I cannot do this until I have opened a main current account and have paid in at least £750 in a month. So, as I now own the FlexDirect account, presumably my pay-in as described above did not register?
I have thought about moving it through paypal instead but was just wondering what other ways FlexDirect users have found that work (or any other accounts with monthly pay-ins). Any suggestions would be greatly appreciated.
0
Comments
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If the ISA was with Nationwide, it'll count as an internal transfer and won't count towards the £1,000.
Any external current account/Paypal will do.
They have a graph view on their internet banking which will show you what was paid into your account in the month that you choose. You need £1,000 showing as bank credits to qualify for interest. It's possible to view a graph for the current month.
I do mine via £500 from my Tesco Current Account (feeding Flexclusive Regular Saver) and swapping £500 from TSB to Nationwide and back again (£500 pay in required by TSB to earn interest.)
Part of my deposit last month was Paypal (rather than the usual, above) and I got the interest.0 -
I just got paid today and £1k from BOS1 went to BOS2 and from BOS2 to Nationwide to TSB to BOS3. and as soon as I get my Tesco bank up and running all the money will end up topping up Tesco bank account
What happens if you push this button?0 -
Short of maybe phoning them, you will know if the deposit has qualified when it comes to pay interest for that month.0
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