MSE News: Nationwide to hike fee on flagship packaged bank account

pashby

They state they are increasing the fee as it is costing them too much. They then give enhanced travel insurance cover to children of the policyholder . . . Surely this is an added cost? What about singles and people without children? Appears that group are being penalised - again!

Perhaps if complaints were made to N/W , they would review this decision.

Mr_Goodkat

I will be keeping it as a joint account amongst my / our portfolio of current accounts.

As a joint account £13 a month is good value for joint policies on worldwide travel (have multiple world wide holidays) breakdown (run two cars) and mobile cover (both on latest iPhone).

The 3% is a nice off setter with £2.5k held there and struggling to get that or better elsewhere.

Only claimed on the phone insurance but was very impressed with the speed and service.

The other packaged accounts still are not as good value all things considered. Could get Halifax for £1 cheaper but already getting £3 a month on both a single and joint reward account and not sure if you can hold a joint reward and joint ultimate reward? Coop drops to £11 with everyday rewards but loads overseas spend and not sure if you can have a single and joint account both getting everyday rewards?

Flex plus also gives fee free cash withdrawals overseas and access to the Select Ctredit card giving fee free overseas spending plus 0.5% cash back on UK spend

Even at £13 a month as a joint account loaded with £2.5k and select credit card the account still stacks up for me

[Deleted User]

Yes, it's still good but for me the main reason is the travel insurance. However I got back from Holiday two weeks ago (third of the year), don't have another planned until next May, so I'm paying £10, soon to be £13 for basically nothing. Closing the account will save me approx £100, then I'll open again when my holiday season starts.

I've said before, I think it's important to close accounts when banks make negative changes, am in the process of closing both my HBOS accounts, otherwise what's the deterrent for them to keep doing so?

Kim_13

I also got a letter today trying to sell me the account on the old terms..

bigadaj

Kim_13 wrote: »

I also got a letter today trying to sell me the account on the old terms..

......well, current terms as things are.

roddydogs

Even more annoying, you cant downgrade to the old Flex a/c & still get the European Travel, as you now count as a "New" customer, therefore invalid!.
(or has anyone done this?)Phone advisor's arn't always right.

Kim_13

roddydogs wrote: »

Even more annoying, you cant downgrade to the old Flex a/c & still get the European Travel, as you now count as a "New" customer, therefore invalid!.
(or has anyone done this?)Phone advisor's arn't always right.

They withdrew the travel insurance for any new FlexAccounts opened after a certain date in December (I think) last year. It would still be a new FlexAccount, albeit downgraded to from something else so I would think the advice is correct unfortunately.

bigadaj

roddydogs wrote: »

Even more annoying, you cant downgrade to the old Flex a/c & still get the European Travel, as you now count as a "New" customer, therefore invalid!.
(or has anyone done this?)Phone advisor's arn't always right.

The alternative is to switch an account in before the end of September, this seems to then qualify so long as you are cycling the £750 a month through the account every month from an external account.

Archi_Bald

bigadaj wrote: »

The alternative is to switch an account in before the end of September, this seems to then qualify so long as you are cycling the £750 a month through the account every month from an external account.

This sounds interesting - have you got the link to the supporting T&Cs please as I couldn't find them? I still need to open a FlexAccount, so wouldn't this count as a new account then?

roddydogs

"Seems to qualify" is very vague, are you sure?