Nationwide Flexdirect Second Account

B_G_B

10_66 wrote: »

What did they come back with? I'm waiting to "re-open" an qualifying Flex Direct account and Nationwide aren't able to give me a consistent date for the closure of the last one. The date that I requested closure is not the date they close the account, they say it takes 3 working days to effect the closure. However, they've also given me 3 different dates on which they say I can qualify for 5% on a new one. Goodness knows which one I take notice of, so it looks like it'll be eeny, meeny, miny, moe.

I use the closure date that they report to the CRA’s. I have not had a problem. Using this date, i believe would give me a pretty strong argument in case of dispute.

Speculator

Ed-1 wrote: »

If this was done at the same time as your new one was opened then IMO it's still too close to the end of the month to be sure that it will continue to pay 5% indefinitely. If it's still paying 5% at the end of this month then you can be sure.

I can confirm I have been paid £10.05 interest for September 30th on my second Flexdirect account so what the advisor told me in August was correct.

Despite what it says in the Flexdirect T&Cs, if you've previously held a Flexdirect account but have not closed it or transferred it to a flexaccount when the 5% rate ended, you will get 5% if you open a new Flexdirect account provided you've not had the 5% rate for 12 months.


4.89% of £2500 = 122.25/368 x 30 = £10.05

(My wife has also been paid £10.05 interest on her sixth FlexDirect account)

10_66

Can someone confirm, please, as I've been given conflicting info from Nationwide (nothing new there); myself and OH both have Flex Direct accounts in sole names (having recently opened them after waiting for the 12 month "sabbatical" to earn the 5%). Can we also hold a joint one and earn the 5% interest?

Speculator

10_66 wrote: »

Can someone confirm, please, as I've been given conflicting info from Nationwide (nothing new there); myself and OH both have Flex Direct accounts in sole names (having recently opened them after waiting for the 12 month "sabbatical" to earn the 5%). Can we also hold a joint one and earn the 5% interest?

Yes, we opened a Joint a/c in August and it has paid the full 4.89% in August and September.

madhat

Can you help me with his.

Can both people in a Nationwide FlexDirect Joint Account get the 5% interest for 12 months each and if so what does the account balance need to be maintained at?

soulsaver

madhat wrote: »

Can you help me with his.

Can both people in a Nationwide FlexDirect Joint Account get the 5% interest for 12 months each and if so what does the account balance need to be maintained at?

In a word no, it's the account that attracts the incentive. One account in joint names.

madhat

Thanks for the info