Nationwide FlexDirect Account

radoslaff

RG2015 wrote: »

Definitely a good point. I have just checked this year's transactions and my Nationwide SO frequently is posted at the weekend before my external funding which does not. I will need to change the date if I take the balance down to £1.

There will be at least one such occasion during the year, so instead of trying to catch it and eventually forget it it's much easier to set an incoming SO 3 days before the reg sav outgoing. This will cover the weekends and honestly £250 will not give you significant interest for 3 days wherever they stay.

Yorkshire_Pud

I can't see any requirement in the reg saver T&C to have to continue funding a Nationwide FlexAccount with £750+ per month beyond the initial 3 months prior to opening the reg saver?

I do fund my FlexAccount with £750 per month to retain the travel insurance otherwise I wouldn't need to (except in the preceding three months before opening a new reg saver when the existing one matures).

RG2015

radoslaff wrote: »

There will be at least one such occasion during the year, so instead of trying to catch it and eventually forget it it's much easier to set an incoming SO 3 days before the reg sav outgoing. This will cover the weekends and honestly £250 will not give you significant interest for 3 days wherever they stay.

Thanks, but I meant changing the date of my SO so it would apply every month not just for the compromised months.

ceredigion

Yorkshire_Pud wrote: »

I can't see any requirement in the reg saver T&C to have to continue funding a Nationwide FlexAccount with £750+ per month beyond the initial 3 months prior to opening the reg saver?

You've been looking at the "summary box"
look at the actual T&C's and you get.

Account holding and eligibility
1. The account is for individuals aged 18 or over who meet one of the following two criteria:
i) hold a FlexOne, FlexStudent, FlexDirect or FlexPlus account, or
ii) hold a FlexAccount and: • have been paying in £750+ a month for the last 3 months (excluding transfers from any Nationwide account held by you or anyone else);
or •
4 completed an account switch to us (from a non-Nationwide account) using our Current Account Switch Team in the last 4 months.

I am sure you could argue the point but is it worth it.

Yorkshire_Pud

ceredigion wrote: »

You've been looking at the "summary box"
look at the actual T&C's and you get.





I am sure you could argue the point but is it worth it.

Yes I was looking at the actual T&C as stated in my post.

Whether its worth it or not is up to the individual who could decide not to pay in £750 a month after qualification and still have the regular saver for 12m.

Same as switching qualifies without any further need to switch every month.

[Deleted User]

I'm in the same boat at the OP but am considering changing the account to the Flexplus. No need for any regular payment, 3% on £2500 and able to keep the regular saver. Sure there's a £13 fee but if you keep the £2,500 balance it will reduce that by £6.25pm and roughly the same for the regular saver. So, you're getting your worldwide Travel, breakdown and mobile phone for next to nothing. Seems like a no-brainer to be honest.

roddydogs

Be aware if you go to Flexplus, you CANT then go back to flex direct & still get European TI, its lost forever, disgusting I know but thats the rules. Aparrantly its a right song& dance to downgrade as well.

[Deleted User]

That's a surprise to me. I went from FlexPlus to Flex-direct without any problems whatsoever in February. I'm not envisaging any problems reversing the journey. Having said that it's not a biggie, I understand Nationwide have dropped the amount you can put in to the regular saver down from £500pm to £300pm so not such a great pull.

To be honest I think we may have turned the corner savings wise so wont be jumping in too quickly when they announce another rise.

badger09

Deleted_User wrote: »

That's a surprise to me. I went from FlexPlus to Flex-direct without any problems whatsoever in February. I'm not envisaging any problems reversing the journey. Having said that it's not a biggie, I understand Nationwide have dropped the amount you can put in to the regular saver down from £500pm to £300pm so not such a great pull.

To be honest I think we may have turned the corner savings wise so wont be jumping in too quickly when they announce another rise.

Your understanding is incorrect;)

https://www.nationwide.co.uk/products/savings/flexclusive-regular-saver/features-and-benefits

ceredigion

Yorkshire_Pud wrote: »

Yes I was looking at the actual T&C as stated in my post.

Whether its worth it or not is up to the individual who could decide not to pay in £750 a month after qualification and still have the regular saver for 12m.

Same as switching qualifies without any further need to switch every month.

My interpretation of the T&C's is, To remain eligible to hold the account you need to have paid in at least £750 per month for the proceeding three months