Nationwide FlexPlus?

nicetomeetyou

I heard nationwide is difficult to obtain a overdraft with and difficult to open a FlexPlus account. How accurate is that?

I was able to upgrade a FlexPlus account from a FlexAccount. They also transferred my £500 overdraft facility and it gives me the option to increase it further.. I only have £500 a month paid into that account. I only have one direct debit for £10 which is soon going to come out my Yorkshire One account...

This this normal to be accepted for a FlexPlus account with minimum income going in it?

colsten

AFAIK, there have not been any reports on MSE so far saying that it is difficult to get a FlexPlus, or an overdraft for it. You pay Nationwide £13 a month for it, presumably because you have decided that the account is worth it for you, and they'll like the income. I doubt they care how much, or how little, you pay in every month as if they did, they'd make minimum monthly deposits a condition. It's your decision how much you keep in the account. As to overdrafts - they are one of the most expensive ways of borrowing money, so should be avoided at all costs. Nationwide are no exception - they charge a lot for overdrafts, and it's becoming even more expensive from November onwards. Nationwide will use their risk assessment procedures to determine whether an account holder will get an overdraft, and how much.

[Deleted User]

Did you decide that the benefits were worth the £13 then?

Willing2Learn

You are the same guy who has the £1,050 mobile phone. I don't want to sound harsh, but I think you need to take a good look at how you're running your monthly budget, if you are getting an expensive mobile, yet require an overdraft. Hope this does not come across as rude

jackieblack

Willing2Learn wrote: »

You are the same guy who has the £1,050 mobile phone. I don't want to sound harsh, but I think you need to take a good look at how you're running your monthly budget, if you are getting an expensive mobile, yet require an overdraft. Hope this does not come across as rude

Having an overdraft facility is not the same as being overdrawn.

I’ve always had an overdraft facility, for over 30 years on my main current account. Never used it though. :huh: