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Nationwide - any point in keeping money coming in?
justme111
Posts: 3,531 Forumite
With the demise of a regular saver and me having used the 5% for £2500 already I keep it for the future saver . Is there any point in keeping standing order cycling in and out or not? I opened it long time ago so do not remember what precisely the requirements are.
The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
Often people seem to use this word mistakenly where "quandary" would fit better.
Often people seem to use this word mistakenly where "quandary" would fit better.
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Probably not. We have FlexDirect accounts, and if you make the pay-in requirements (£1000) it pays 1% interest!!!! So if you need that, then keep funding it. But we've got £0 balance in both of ours now.
Funnily enough, we recently had an offer to transfer into these existing accounts for £100 reward, which we've recently done, but does mean we can't close the accounts for 3 months, as they could re-claim the money. So we can't use them in time for the Santander refer a friend deal - oh well.How's it going, AKA, Nutwatch? - 12 month spends to date = 3.24% of current retirement "pot" (as at end December 2025)0 -
But if you have an older FlexAccount current account (not a FlexDirect or FlexPlus account, the names are so confusing) you need to keep £750+ cycling in each month in order to preserve the free European travel insurance which was a perk of this account (it was withdrawn for newer accounts a couple of years ago). Miss just one month's payment and the perk will be withdrawn.0
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I don't plan to keep mine when the RS matures in June - 1% on £2.5k simply isn't worthwhile when several of my savings accounts pay more than that. I have plenty of other current accounts, so it wouldn't hurt to have one less.0
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Funnily enough, we recently had an offer to transfer into these existing accounts for £100 reward, which we've recently done, but does mean we can't close the accounts for 3 months, as they could re-claim the money.
What was that offer? Was it just the long-running Nationwide Referral £100 offer or something else?0 -
I will keep my NW flex account open purely because It comes with an overdraft facility and if I use the facility they only charge 50p a day. My limit is £5000 and compare that to Lloyds its really very competitive.
However its not something I have used yet but may be useful if I need money quickly at a very affordable rate.0
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