Nationwide flex direct query

Stu6781

Hi all,

With the nationwide flex direct account, to get the full interest, could you simply deposit £2500 into the account and then transfer £1000 into the account every month but transfer it straight back out so it’s just hitting the account for a few minutes? Is that enough to meet the requirement?

Many thanks

etienneg

Yes, that's correct. Note, however, that the £1000 must come from an account with a DIFFERENT bank or building society. It cannot come from another Nationwide account, even if it's in someone else's name.

Stu6781

Thanks for the reply. So essentially you only need £3500 to execute it. Brill

eskbanker

Stu6781 wrote: »

Thanks for the reply. So essentially you only need £3500 to execute it. Brill

You can do it with a lot less than £3500 - you obviously need £2500 if you aim to maximise interest earned, but the monthly funding can be broken down into multiple smaller payments for those who choose to or who don't have a spare £1000 available for shunting around....

Mnd

You can leave your balance at 2500, transfer 1000 out and back in same day.
No loss of interest, and minimum financial commitment