Help with Nationwide 'Flex Direct' & refer a friend

Woodger95

Hi,


I'm hoping someone can help, hopefully it isn't a silly question!


I like to take advantage of banks offering high interest rates on relatively low savings, and any cash offers they can give. I see the Nationwide has a 'flex direct' account, which offers 5% on £2,500 for year 1.


I would not want to use this as my main account, but I would put the £2,500 in to earn the 5% interest (plus apply for the 5% regular saver). It states I need to pay in £1,000 a month - can I set up a standing order from my main current account (Santander) each month, then transfer it straight back out - does this count as paying in £1,000 per month if it goes in then out from another account of mine?


Also, they have the 'refer a friend' - has anyone got any feedback on this? It seems I can open the account fairly easily (no switch/ direct debits), but my girlfriend is looking to switch to this account to get the savings benefit too - so If I open the account as mentioned above, then refer her, is it that straight forward to get £100 each?


Many thanks,
Danny

soulsaver

£1K In (from external ac)& immediately out? Yes.
Refer OH switch in for £100 each? Yes
AND OH subsequently refer you for a switch in for another £100 each? Also YES!

soulsaver

PS And open a 5% regular saver each...

Woodger95

Thanks soulsaver very helpful!