Nationwide FlexDirect Account

MARI

Can you open more than one of these accounts from different bank accounts? I know Martin states you can only have one which lasts a year but what I mean is , can I have a FD account for one year with £1k pay in from X bank account and then the next year open another one with £1K pay in pay in from Y bank account?

ceredigion

You can have 4
But that is not the whole story

Zanderman

MARI wrote: »

Can you open more than one of these accounts from different bank accounts? I know Martin states you can only have one which lasts a year but what I mean is , can I have a FD account for one year with £1k pay in from X bank account and then the next year open another one with £1K pay in pay in from Y bank account?

Am not sure I understand your question.

You can have several FlexDirect accounts. But only one that pays 5% interest, and that will reduce to 1% after 12 months. Terms say that you can't have another paying 5% until 12 months after the original one stopped paying 5%. So if you're after the 5% interest it's one account at 5% every other year. But several at a lower rate.

Where the money is paid in from, or which accounts you switch to them from, is probably irrelevant.

MARI

Ceredigion - can you explain please?

darkidoe

MARI wrote: »

Ceredigion - can you explain please?

uh I think Zanderman just did?

jimjames

MARI wrote: »

Ceredigion - can you explain please?

Simple answer is no if you're planning on doing it for the interest.

ceredigion

MARI wrote: »

Can you open more than one of these accounts from different bank accounts? I know Martin states you can only have one which lasts a year but what I mean is , can I have a FD account for one year with £1k pay in from X bank account and then the next year open another one with £1K pay in pay in from Y bank account?

MARI wrote: »

Ceredigion - can you explain please?

:undecided
"Can you open more than one of these accounts" Yes'
"from different bank accounts?" Doesn't make sense.
"I know Martin states you can only have one which lasts a year". If that was actually said which I doubt it is incorrect.
"can I have a FD account for one year with £1k pay in from X bank account and then the next year open another one with £1K pay in pay in from Y bank account". Well you could if you wanted to.