Nationwide FlexDirect

1884

The Nationwide FlexDirect account is currently one of the top recommendations for a bank account with good saving options as it gives a fixed 5% - see here http://www.moneysavingexpert.com/savings/savings-accounts-best-interest#nationwideflexdirect

My question is - does anyone know if there are any T&Cs that restrict benefits if you also want to get the £100 for you and a friend if you sign up via the recommend a friend? The only terms I can see are that you have to pay in £1000 each month to get the 5% interest on the balance (up to £2500) and that the switch must be a full switch including transfer of two active direct debits and closure of previous account. I presume the direct debits do not need to stay active to receive the £100 recommendation or the monthly interest?

Thanks in advance for any help.

[Deleted User]

I switched & cancelled a DD within the 3 months & was told this would not affect the switch referral of 100.00.

Dxxx

1884

Deleted_User wrote: »

I switched & cancelled a DD within the 3 months & was told this would not affect the switch referral of 100.00.

Dxxx

Ah great, thanks for the reply! Are you getting the 5% interest on your balance too? Do you know if that is affected by the DDs at all?

Thanks

TheShape

1884 wrote: »

Ah great, thanks for the reply! Are you getting the 5% interest on your balance too? Do you know if that is affected by the DDs at all?

Thanks

The 5% interest is dependent on the £1000 pay-in not the DDs.

1884

TheShape wrote: »

The 5% interest is dependent on the £1000 pay-in not the DDs.

Okay great thanks! So it appears you are able to get both the £100 free cash and the 5% interest. Seems like a no brainer compared to either getting more free money but then having to drip feed money into a regular saving account or going straight to another 5% balance interest without a free cash incentive.

bigadaj

1884 wrote: »

Okay great thanks! So it appears you are able to get both the £100 free cash and the 5% interest. Seems like a no brainer compared to either getting more free money but then having to drip feed money into a regular saving account or going straight to another 5% balance interest without a free cash incentive.

It's possible to get what you suggest and cashback from tcb or quidco, though not certain. I managed to get both on a switch I referred with my partner, but her cashback as turned down. However she ended up getting my £100 for her raf so it sort of balanced in the end.