Nationwide Flexplus warning - major downgrading of benefits

helibird

Just found out by accident that Nationwide are reducing the benefits on the Flex plus account again. (first we lost the Identity Theft coverage and the Extended warrantee coverage, then the age went down from 75 to 69). Now the 3% interest on in credit balances up to £2500 is going, Travel policy, Mobile Phone Policy is changing. The £250 fee free buffer is going. All in November. What's worse is I spoke to the travel desk about an extended holiday in October/November only a few days ago and none of this was mentioned and I am unable to find the new policy document only a summary of changes.
It is looking borderline on whether the Flex Plus fee is worth it now. I'm going to have to do some serious investigating.

[Deleted User]

Already posted on here many, many times.

Is it a joint account?

If so then £13 per month for two lots of worldwide breakdown cover, travel insurance and mobile phone cover is pretty good value.

Stormy

Yeh just had email confirmation of this, damn. We do have a joint account, is there anything out there that beats this now?

The loss of interest basically hikes this from around ~£7 to £13 per month.

ScoobyZ

helibird wrote: »

Just found out by accident that Nationwide are reducing the benefits on the Flex plus account again. (first we lost the Identity Theft coverage and the Extended warrantee coverage, then the age went down from 75 to 69). Now the 3% interest on in credit balances up to £2500 is going, Travel policy, Mobile Phone Policy is changing. The £250 fee free buffer is going. All in November. What's worse is I spoke to the travel desk about an extended holiday in October/November only a few days ago and none of this was mentioned and I am unable to find the new policy document only a summary of changes.
It is looking borderline on whether the Flex Plus fee is worth it now. I'm going to have to do some serious investigating.

Also the reg saver was reduced to £250 a month and has now gone. Time to look around.

Rich2808

Can you clarify how the mobile phone and travel insurance policies are changing.

Of course they have their excesses too - £50 for a travel claim and up to £100 if you lose or have an apple phone stolen (£50 for non apple phones).

The Yorkshire/Clydesdale bank equivalent product (signature account) which costs only 50p more a month - also includes gadget insurance (e.g. laptops and tablets/ipads) which NW doesn't cover, Identity theft protection, provides travel cover up to 75 (not 70) and I believe has no travel excess at all. I am starting to think that extra 50p may be worth paying.

[Deleted User]

Changes here: https://nationwide.co.uk/-/media/MainSite/documents/products/current-accounts/flexplus/P3767-flexplus-features-and-insurance-Summary-of-changes.pdf

Rich2808

!!! wrote: »

Changes here: https://nationwide.co.uk/-/media/MainSite/documents/products/current-accounts/flexplus/P3767-flexplus-features-and-insurance-Summary-of-changes.pdf

Thanks - I see the mobile phone excesses are going up. The non apple excess is going up from £50 to £100 for loss and theft and from £100 to £125 for apple phones. That is quite a rise.

They are raising the maximum claim from £1000 to £1500 (not clear if that is just for the phone or includes data/call misuse) - with up to 4 claims a year allowed. Given apple iphones retail for up to £1,450 for an xs that might be useful.

[Deleted User]

Yes.
Some trade-offs but still a good deal

System

!!! wrote: »

Yes.
Some trade-offs but still a good deal

That's obviously subjective - I think it will no longer be a good deal without 3% credit interest and £250 0% overdraft buffer.

I've already scheduled downgrade for the end of October.

parcival

Just done a few quotes and I think it is still good value compared to the alternatives even though it is a huge hike in cost.

We have a joint policy with 3 medical conditions covered and trip extension to 60 days so annoying but better than anything else I have found so far.......

karlie88

!!! wrote: »

Already posted on here many, many times.

Is it a joint account?

If so then £13 per month for two lots of worldwide breakdown cover, travel insurance and mobile phone cover is pretty good value.

You'll have to excuse me but where have these new FlexPlus changes been discussed many times?