Nationwide or Tesco bank account

Kev17

Hi, it's been a while since I have switched one of my banks accounts, I'm looking to switch an account to either Nationwide or Tesco.

Nationwide - if a 'friend' recommends me do they still have the £100 each incentive? The current accounts interest is attracting me to the account

Tesco - the ISA rate is one of the best for a bank that I've heard of, I'm not keen on depositing funds with a bank that is not in the UK, the current account interest is good and the savings rates are 1% which although poor is better than the accounts I have just now, plus clubcard points on purchases.

Anyone bank with either of them? Are they any good?

YorkshireBoy

I bank with both and have had no problems that weren't quickly resolved to my satisfaction. I can recommend both. But...

Nationwide FlexDirect, at 5% AER, is nearly twice the Tesco interest rate.

They also have a 5% regular saver, useful if either you're saving from income or drip feeding funds from lower paying accounts.

Yes the RAF incentive is still running.

TheShape

My main account is the Nationwide FlexDirect. With the 5% interest, the 5% Flexclusive Regular Saver and the refer a friend incentive it would be the one to go for first. They've been good enough for me to have my current account with them for a decade.

Tesco are a good place for any funds that won't immediately fit into the higher paying Nationwide account. Their customer service was good on the occasion I needed it.

Kev17

Thanks, I will go with Nationwide. Could any of you recommend me?

Zanderman

Kev17 wrote: »

Thanks, I will go with Nationwide. Could any of you recommend me?

The proper place to look for referrals is the referrals thread on nationwide here: https://forums.moneysavingexpert.com/discussion/5280147

Lots to choose from there

Or you can simply send a PM to any of the helpful people here!

xylophone

But remember that the 5% on Flexdirect only lasts for a year - don't forget the regular pay in/out as required.

The Tesco current account (you can have 2) pays 3% on up to £3000, no regular pay in required.

There is no reason why you cannot have both Tesco and NW.

Robisere

xylophone wrote: »

But remember that the 5% on Flexdirect only lasts for a year - don't forget the regular pay in/out as required.

The Tesco current account (you can have 2) pays 3% on up to £3000, no regular pay in required.

There is no reason why you cannot have both Tesco and NW.

That is one reason why I switched to another bank. Another reason is that NW do not have many branches outside of major towns and cities. They closed all the branches in Estate agencies some years ago: when the 5% deal ended, so did my NW account. I had a 44 mile round trip for any branch business.