Switching bank account without income

Vincz

Hi ,I want to switch my nationwide flexacount for better account.I being made redundant with a good pay off,but know have no monthly income. At the moment I transfer money in and out through a linked post office instant savings every month, to keep my nationwide benefits £750.Could pay more , because of redundancy money.Anyone know how switch current account without income.

Westie983

You can switch to any current account, its the opening of the current account you may have difficulty with, if they require a monthly credit.

Have a look at the best current accounts, or ones that are offering an incentive currently and go from there.

Westie983

Kim_13

Vincz wrote: »

Hi ,I want to switch my nationwide flexacount for better account.I being made redundant with a good pay off,but know have no monthly income. At the moment I transfer money in and out through a linked post office instant savings every month, to keep my nationwide benefits £750.Could pay more , because of redundancy money.Anyone know how switch current account without income.

The FlexDirect allows you to keep your access to their Flexclusive offers and products without a minimum monthly pay in, though it would mean losing the free travel insurance they're honouring for FlexAccount customers who already have this (if you do.)

As you're already an existing customer it's an easy job online to upgrade. There's no monthly account fee, though it will only pay interest (it offers a year at 5% on £2,500 if you haven't already had this, and 1% thereafter) if you cycle £1,000 through the account each month.

The MSE guide to the best bank accounts is here if you'd prefer to leave Nationwide: https://www.moneysavingexpert.com/banking/compare-best-bank-accounts