Nationwide axing interest on Flexplus A/C

hollie.weimeraner

Just read NW are axing the 3% interest on balances up to 2,500 from November due to rising insurance costs. This comes shortly after getting rid of the 5% on the linked savings a/c.

[Deleted User]

True - but are adding fee-free overseas spending.

I think I may have to re-think my relationship with NW going forwards and look to move on...

Organist

Makes you wonder what NW now offers to customers

hollie.weimeraner

Organist wrote: »

Makes you wonder what NW now offers to customers

For the time being for me it’s affordable worldwide travel insurance with pre existing issues.

harz99

hollie.weimeraner wrote: »

For the time being for me it’s affordable worldwide travel insurance with pre existing issues.

And that will be the only thing holding me there, however this years age and pre existing supplements may make me rethink that, certainly a lot of research to do in the next few weeks before renewal date.

harz99

hollie.weimeraner wrote: »

Just read NW are axing the 3% interest on balances up to 2,500 from November due to rising insurance costs. This comes shortly after getting rid of the 5% on the linked savings a/c.

Out of interest, where did you read this news?

18cc

google it there are several hits

18cc

https://www.dailymail.co.uk/money/saving/article-7284681/Nationwide-FlexPlus-users-spend-abroad-no-fees-August.html

Rich2808

!!! wrote: »

True - but are adding fee-free overseas spending.

I think I may have to re-think my relationship with NW going forwards and look to move on...

You do of course already get free overseas cash withdrawals.

So this is just about debit card purchases - presumably world wide and not just in Europe.

Oh well I suppose all good things come to an end!

The Yorkshire/Clydesdale signature current account costs £13.50 a month - and it includes gadget insurance (laptops and tablets) not just mobile phone insurance and free ID defender to protect you against fraud/identity theft but no commission free overseas withdrawals or payments.

wiseonesomeofthetime

Having just moved my banking to Nationwide FlexPlus in the last month, I am not impressed with this latest news.

My decision was based on the interest received paying for half of the cost of the package.

Should have stayed with my previous provider, however, too late to return now.

As I am unlikely to use the Travel Insurance or Mobile Insurance any time soon, it looks like another rethink is required!

intalex

Slightly off-topic, but same theme - a conversation with Nationwide earlier this year seemed to suggest they'll be removing the free European travel insurance for eligible (legacy) FlexAccount holders at the end of this year.