Nationwide Flexdirect Question

Diego_Francis

Read their T's&C's about multiple accounts.

It states:

'Under the terms and conditions of this account customers are only entitled to one promotional credit interest rate of 5% AER. (4.89% gross p.a) fixed. The only permitted exception to receive more than one promotional rate is if the additional account is held in joint names.
Any additional FlexDirect accounts held or more than one joint account held by you and another customer will result in the credit interest rate being reduced from 5% (4.89% gross p.a) fixed to 1% gross p.a/AER (variable) within 7 working days of the account being opened.'

The question:

If my partner and I were to separately open one Flexdirect account each, then open a second account but as a Joint account, would this adhere to the T's&C's?

My logic tells me that this would entitle us to 5% interest on 7.5k providing this setup doesn't disqualify us.

Please discuss
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I am aware that there are savings accounts that may or may not assist in gaining interest on more funds hint hint

ValiantSon

Yes, you can both have one individual account each and a joint account. This would give you access to 5% on £7,500.