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Current Account.. Which?

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Hi

I would like to open a new current account. I am currently with Nationwide and wish to remain with them, so I will not be switching accounts. (Shame as I would quite like to receive a sum of money for switching; only, I cant as my mortgage term is up soon and I wish to remain with Nationwide)

Which would be the best account to setup a direct debit to each month? This would be the account that I would use on a day to day basis? No more than £150 a month in there.

Thanks
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  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    This doesn't answer your question, but presents you with an opportunity to both stay with Nationwide and get a £100 switching incentive from them...

    Open an account elsewhere (any account), put two direct debits on it, and then switch it into your Nationwide account by asking a family member/friend to refer you under their refer a friend scheme.

    But to answer your question directly...

    An account paying 3% AER with no minimum pay in such as Tesco. But you wouldn't fund it by DD, you'd set up a standing order from Nationwide.
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Hi

    I would like to open a new current account. I am currently with Nationwide and wish to remain with them, so I will not be switching accounts. (Shame as I would quite like to receive a sum of money for switching; only, I cant as my mortgage term is up soon and I wish to remain with Nationwide)
    Well, you can open a new account, then switch it for a bonus.
    Which would be the best account to setup a direct debit to each month?
    Do you mean a standing order?
    This would be the account that I would use on a day to day basis? No more than £150 a month in there.
    Any free current account will do the job and most banks offer such accounts. Surely you don't expect any bonuses/perks for £150. Why just not open a second account with the same Nationwide?
  • Can I open a second account with Nationwide?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Can I open a second account with Nationwide?
    Your T&Cs say you can have up to four...don't they?
  • It seems to be one and one more if in a joint name?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    It seems to be one and one more if in a joint name?
    For a 5% AER paying FlexDirect, yes. But that's not the only account they do.
  • Ah. Okay. I may see if I can open another Nationwide Flex Account.. may become a little confusing having two blue cards mind ! Haha
  • agrinnall
    agrinnall Posts: 23,344 Forumite
    10,000 Posts Combo Breaker
    Ah. Okay. I may see if I can open another Nationwide Flex Account.. may become a little confusing having two blue cards mind ! Haha

    I don't think they will allow you to open a second FlexAccount. And you don't need to: simply do what everyone else is telling you and open a sacrificial account anywhere else.
  • System
    System Posts: 178,340 Community Admin
    10,000 Posts Photogenic Name Dropper
    agrinnall wrote: »
    I don't think they will allow you to open a second FlexAccount. And you don't need to: simply do what everyone else is telling you and open a sacrificial account anywhere else.

    Of course, someone can open more than one FlexAccount.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • agrinnall
    agrinnall Posts: 23,344 Forumite
    10,000 Posts Combo Breaker
    Heng_Leng wrote: »
    Of course, someone can open more than one FlexAccount.

    There's plenty of accounts that will only allow you to open 1 or a limited number (e.g. Tesco, max 2 accounts) but if you say that doesn't apply to the FlexAccount I'll believe you.
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