Nationwide Flex Account (Merged)

jimmyjim_uk

I have just been accpeted for a Flex Account. The reason for opening it is purely for free cash withdrawals when abroad.

I don't intend to have my wages paid into it at present.

Do you need to pay money into this account each month to benefit from the free cash withdrawals when abroad?

The reason I ask is, I have to credit at least a £1000 every month to my Halifax Extras Current Account to get the free travel insurance, higher interest, etc..

grumbler

jimmyjim_uk wrote:

Do you need to pay money into this account each month to benefit from the free cash withdrawals when abroad?..

NO. This only affects interest rate on credit balance and, possibly, overdraft limit in future.

jimmyjim_uk

Thanks grumbler!

pinkonion

As a long term user of the account I can confirm this is true. I use it for my main account and find it really good for getting cash abroad - I prefer getting small amounts regularly rather than a large amount and walk around with it.

richardmk

If you dont make regular credits to the Flexaccount.
There is a good likleihood of the debit card being replaced with a cashcard when it expires

John_M_Business

I have a flexaccount and it is an upretentious, rather dull, but nevertheless trustworthy account. No bell but no stings. Yes, it is good for money abroad.

steady__eddie

If you don't make regular payments in, I believe that they only pay you something like 0.1% gross interest. Mind you, you're gonna be in pocket from the free overseas transactions so it's swings & roundabouts isn't it ?

Peter-Pan_5

I`ve had the Flexaccount for 20 years,only a small amount goes into the account now,I can`t sing their praises enough, for transactions abroad.

pin

John_M_Business wrote:

I have a flexaccount and it is an upretentious, rather dull, but nevertheless trustworthy account. No bell but no stings. Yes, it is good for money abroad.

Dull? It saves a fortune when using abroad, how can you call that dull?

Also the online banking is not too bad. Get an Esaver account with it, keep most of you money in the esaver, which attracts a decent 5% interest. Transfers between Esaver and FlexAccount are instant.

M_Thomson

empfun wrote:

I take it you mean cash card being replaced with the debit card.

No, Debit card replaced with a Cash Card.

empfun

Yes you definitely meant that M Thomson.