Nationwide flexdirect question

ericlered

YorkshireBoy wrote: »

Thanks to all who have shared their experience with this. My FlexDirect has just had 5% re-applied (the day after my anniversary) for another 12 months, in one 10 minute phone call.

Hello, can you let me know which telephone number you used and the department as new accounts opening on 0800 302010 are insisting that I'll need to change my Flexdirect account to a flex account and then upgrade it again 24 hours later in order to get the 5% again! Thanks

xylophone

Did you read post 30 suggesting that you send a secure message citing the information given to me/Badger?


https://forums.moneysavingexpert.com/discussion/comment/72291604#Comment_72291604

badger09

xylophone wrote: »

Did you read post 30 suggesting that you send a secure message citing the information given to me/Badger?


https://forums.moneysavingexpert.com/discussion/comment/72291604#Comment_72291604

hard work earning those repeat fees xylophone:p

dales1

Yes indeed, many thanks to Badger.
No need to listen to scripts on the phone, no need to switch accounts around.
I just modified Badger's secure message and sent it.
They actioned it straight away as follows:

Dales to Nationwide
For my FlexDirect account, I understand that it is possible to start earning 5% again if the account has not had interest at 5% for over 12 months (providing £1k is paid in every month from outside Nationwide).
(This seems to be a recent change in your Terms and Conditions, so that loyal customers do not have to close their accounts to re-qualify).

Apparently, if you would send them a Corrections form, your ISA and Savings Helpdesk will amend the account to show the 5% interest rate.
I would be very pleased if you could do this for me.

[FONT=&quot]Nationwide to Dales,
Thank you for your message.[/FONT]
[FONT=&quot]You’re correct we can apply the 5% again.[/FONT]
[FONT=&quot]I have now requested this for you now so you will start earning the higher interest within the next 3-5 working days. If there is anything else I can help you with...etc[/FONT]
[FONT=&quot]
[/FONT]
[FONT=&quot]Dales[/FONT][FONT=&quot][/FONT]

King_Of_Fools

Seems like Nationwide need help to communicate this to their staff. This was the reply I got to my secure message:

Nationwide wrote:

As you've had the account at 1% for more than 12 months, then you will be eligible for the 5% interest again.

However I won't be able to action this for you through this messaging service.

In order to do this, you will need to close the current Flex Direct account and open a completely new one.

Upon doing so, you will have the 5% for another 12 months.

xylophone

Send secure message[/B]citing information given to Badger/Dales1/me......

No_Name

There doesn't seem to be any clear cut answer to this.

My flexdirect 5% account has recently expired - do I hold on at the lower rate and hope for the best this time next year?

soulsaver

No_Name wrote: »

There doesn't seem to be any clear cut answer to this.

My flexdirect 5% account has recently expired - do I hold on at the lower rate and hope for the best this time next year?

Who knows what will happen next year? Safest would appear to be close it and reopen in 12 months... or downgrade it for 12 months. What they are allowing now may not be what's allowed in 12 months time...

teddysmum

It is very unclear as this from the T&Cs seems to disagree with the message King of Fools received, as it says that ,to get 5%, you must not have held a Flexdirect account at all, rather than one only paying 1%.


If you have previously held a FlexDirect account in the last 12 months, you will not be entitled to the introductory rate or offer under a new agreement and therefore you will receive the standard 1% gross p.a/ AER (variable) interest rate.

No_Name

So I guess I'll have to

- wait until my Flexclusive Reg Saver matures middle of next month
- downgrade my flexdirect to a flexaccount
- wait 3 months?
- then open another flexclusive reg saver?