Any need to keep direct debits on Nationwide?

ValiantSon

philng wrote: »

Thanks for the comments but sorry in the main they are largely irrelevant as we have already previously done the First Direct/COOP/HSBC/Halifax etc. etc. switches.

In which case the answer is simple: you don't need the direct debits on the FlexDirect account, and you never did.

If you want the 1% interest then you still need to credit the account with £1,000 per month, but I wouldn't bother as you can get more on your £2,500 balance elsewhere. I would, however, keep the account open so that you can make use of a new regular saver each year.

Superscrooge

My solution when my Flexdirect account dropped to 1% was to keep it open with a minimal balance so that I was eligible for the 5% Regular Saver and just transfer £1,000 in and out each month.

Mogley

The direct debits would have been needed if the OP switched in to the flexdirect using refer a friend to get the £100. After that, the direct debits are not required to get the 5% interest (now 1% after a year). Crediting £1000 is all that is required.

jimjames

aj23 wrote: »

I didn't say he needed direct debits...

Except the question was "do I need DD?", a reply of yes gives confirmation

aj23 wrote: »

Yes. The only thing that has changed is the interest rate, all other conditions of the FlexDirect still apply.

philng wrote: »

Thanks for the comments but sorry in the main they are largely irrelevant as we have already previously done the First Direct/COOP/HSBC/Halifax etc. etc. switches.

As I've filled most other accounts I've found the Nationwide quite useful for short term overspill, it's only 1% but better than nothing

aj23_2

jimjames wrote: »

Except the question was "do I need DD?", a reply of yes gives confirmation





As I've filled most other accounts I've found the Nationwide quite useful for short term overspill, it's only 1% but better than nothing

I've had the account so I know you don't need them. I was saying he needed to pay in £1,000.

surreysaver

aj23 wrote: »

I've had the account so I know you don't need them. I was saying he needed to pay in £1,000.

Do I still need to keep the 2 direct debits running & crediting £1000 per month?

Whatever..