Direct Debits for Nationwide FlexDirect

Sue58

I have just opened a Nationwide FlexDirect account and would like to introduce my husband for the intro fees, however, in the switch it this has to include 2 Direct Debits.

He wants to switch his account but does not have anymore direct debits so apart from using 2 charities at a cost of £2 per month (against the interest) is there any other way?

I have a Tesco account so I think somebody on the forum said that you can use them for direct debits? If that is the case can I start 2 separate direct debits from my Tesco account into my husband's new Nationwide FlexDirect account? Will this be acceptable to the Nationwide? Or do I have to go the charity route?

ColdIron

Which Tesco accounts do you have? You can't set up DDs from the current account, you can from the Internet Saver and the Instant Access Savings Account

xylophone

Your husband should open the two Tesco savings accounts and set up the DDs to come from his NW account.

Sue58

ColdIron wrote: »

Which Tesco accounts do you have? You can't set up DDs from the current account, you can from the Internet Saver and the Instant Access Savings Account

We both only have Tesco Current Accounts so basically can he open either of these accounts and then do 2 separate direct debits from his Tesco account to his new Nationwide account?

Would that work?

Sue58

xylophone wrote: »

Your husband should open the two Tesco savings accounts and set up the DDs to come from his NW account.

He already has 2 Current Accounts that pay the 3% interest, we both do. However ColdIron said we can't do DD's from a current account but only from a Internet Saver or Instant Access Savings Account?

ColdIron

You can't use the current accounts but you can use the savings accounts as xylophone suggests. It should be your husband that opens them for himself as the DDs are intended to be used on accounts held in the same name

youngretired

It's the account that is being switched that must have the 2 active DD's on not the new Nationwide account for the £200 recommend a friend T&C's.

If his account that he is switching already have the required 2 DD's then he is OK, if not then he can open the Tesco Internet Saver and Tesco Instant Saver and these all allow you to set up DD's but they will all require 10 days minimum to take 1st payments. These need to be set up on his existing account that he wants to switch NOT the new Nationwide.

So if he opens them today, instructs the 1st payment to be claimed in March and then he can switch in April. Active DD's mean that they are live and not dormant, some people say that they only need to be set up on the account but others say that it's best that they actual debit the old account 1st.

The DD's do not need to be kept active on the Nationwide account though best to keep them active until £200 payment received.

jquirke

if there any good ones going, you could get a credit card to bank transfer which would give you extra money in these accounts to earn interest on and also give you one or two direct debits to pay off.Alternatively, when they send you the set up instructions give them the details of one DD, eg phone bill to transfer. I did both and it is a bit inconvenient having one DD in a separate place but it is worth it.

Sue58

youngretired wrote: »

It's the account that is being switched that must have the 2 active DD's on not the new Nationwide account for the £200 recommend a friend T&C's.

If his account that he is switching already have the required 2 DD's then he is OK, if not then he can open the Tesco Internet Saver and Tesco Instant Saver and these all allow you to set up DD's but they will all require 10 days minimum to take 1st payments. These need to be set up on his existing account that he wants to switch NOT the new Nationwide.

So if he opens them today, instructs the 1st payment to be claimed in March and then he can switch in April. Active DD's mean that they are live and not dormant, some people say that they only need to be set up on the account but others say that it's best that they actual debit the old account 1st.

The DD's do not need to be kept active on the Nationwide account though best to keep them active until £200 payment received.

Thank you youngretired for all this information it is appreciated.

My husband is switching from the Halifax on a recommend a friend basis from me. Does he have to open both a Tesco Internet Saver and a Tesco Instant Saver and do 1 DD from each account or can he just open 1 of these Tesco accounts and do 2 separate DD's from the 1 account?

Sally57

ColdIron wrote: »

Which Tesco accounts do you have? You can't set up DDs from the current account, you can from the Internet Saver and the Instant Access Savings Account

I'm about to recommend a friend to switch to Nationwide FlexDirect but she does not have any spare DD's. Can she just open one of these Tesco accounts and do two separate direct debits to her existing current account or does she have to open both the Internet Saver and the Instant Access Savings Account and do one DD from each account? Thanks.

teddysmum

Surely Sue could have DD going into her Tesco saver from her husband's account, as it would be like any company selling a product having a DD set up, but her husband would need to give the instruction as it's from his money.