Question Regarding M&S switching bonus from Nationwide

rangers_fc

Im considering switching my flexdirect account to M&S to take advantage of the switching bonus from M&S and utilise there regular saver. What concerns me is I also hold a flexaccount I want to retain in nationwide. So is it ok to opt to close my flexdirect account to M&S but retain my flex account. Is Nationwide a good account to switch from as I hold a regular saver there & want to remain within the terms and conditions for that also.

mwarby

I would personally open a new account with a bank you don't want to use in long term, setup direct debits then move to M&S.

My concern is that things could get mixed up, eg nationwide say your regular saver was tied to other account, it's also possible that it may influence your standing at the bank for other things in the future

In general though any account which meets the criteria and is part of switching scheme is as suitable as any other

rangers_fc

Yes I see where you are coming from, however I dont have surplus accounts, I try to utilise the best rates. I don't want to alienate banks either, just optimize the interest or switching bonus. Another reason to use the flexdirect account is it needs to be closed to qualify to be renewed in a years time

mwarby

If your planning on closing it anyway, to get a second round of offers, I don't imagine closing or switching would make all that much difference.

youngretired

As long as you have funded your FlexAccount with £750 for the last 3 months and keep funding it with £750 then you will meet the regular saver T&C's. Switching the FlexDirect will therefore not impact the other accounts.

rangers_fc

yes thanks, I will wait until I have funded the flexaccount 3 times over 3 months to ensure Im within the terms & conditions.I will then do the switch from the flexdirect account , if the M&S offer is still available.
Cheers for the clarification