Nationwide Flexaccount

chelseablue

Its never been communicated to me if I did have it

I only started having my salary paid into it this year so before that had less than £750 going in a month

SpanishBlue

chelseablue wrote: »

Its never been communicated to me if I did have it

I only started having my salary paid into it this year so before that had less than £750 going in a month

You only have to miss one month of paying in £750 to no longer have the free insurance.


So it does sound like you don't have it.

badger09

Legacy Flex accounts do indeed come with free European travel insurance providing funding criteria are met.

It is also possible to upgrade to an annual worldwide policy, even for those of us of advanced years and with several pre-existing health conditions.

I recently renewed our joint policy for £325. Cost of comparable cover elsewhere ranged between £725 and £1025, so we'll be keeping our joint trusty Flex account, used for all household expenditure, for as long as possible;)

abz88

chelseablue wrote: »

Just have to be careful not to spend my savings, as my Nationwide current account is my spending account.

Can I open a new flex account with Nationwide now?

Still have my salary paid into the flexdirect to satisfy the £1,000 a month pay in but move my spending money over to the new flex account

So treating the flexdirect as a savings account to keep £2,500 in

Yes, you can keep your current account and apply for a new FlexDirect to use as a savings account. Just make sure you meet minimum pay in requirements on it and then once it drops to 1% you can use it to get a switching bonus from somewhere else.

colsten

chelseablue wrote: »

Its never been communicated to me if I did have it

The travel insurance was part of the T&Cs that you accepted when you applied for the account :cool:. The change to the T&Cs was clearly communicated, in personal letters or emails.

If I were you, I would clarify with Nationwide whether I still have the travel insurance. If yes, it's almost certainly worth keeping it alive - unless you never travel outside the UK. If you have lost it, there are a few potential other reason for why you might want to keep the account: having a longstanding account looks good on your credit files; also, Nationwide operate a 'loyalty' programme for existing customers (15+ years). Whilst the benefits of that programme are currently pants, you never know whether it might come in handy again.

Apart from that, there's no reason for why you couldn't have another account, with Nationwide or with someone else, for your day-to-day banking.

chelseablue wrote: »

Can I open a new flex account with Nationwide now?

Nationwide allow you to have 4 current accounts. They can be any combination of FlexAccount, FlexDirect and FlexPlus. Although you are limited to one FlexDirect, I think, and it would be a bit silly to have more than one FlexPlus.

abz88

colsten wrote: »

The travel insurance was part of the T&Cs that you accepted when you applied for the account :cool:. The change to the T&Cs was clearly communicated, in personal letters or emails.

If I were you, I would clarify with Nationwide whether I still have the travel insurance. If yes, it's almost certainly worth keeping it alive - unless you never travel outside the UK. If you have lost it, there are a few potential other reason for why you might want to keep the account: having a longstanding account looks good on your credit files; also, Nationwide operate a 'loyalty' programme for existing customers (15+ years). Whilst the benefits of that programme are currently pants, you never know whether it might come in handy again.

Apart from that, there's no reason for why you couldn't have another account, with Nationwide or with someone else, for your day-to-day banking.

Nationwide allow you to have 4 current accounts. They can be any combination of FlexAccount, FlexDirect and FlexPlus. Although you are limited to one FlexDirect, I think, and it would be a bit silly to have more than one FlexPlus.

Believe its 2 FlexDirect accounts but one must be a joint account

ceredigion

abz88 wrote: »

Believe its 2 FlexDirect accounts but one must be a joint account

No you can have 5 FlexDirect's , but there is a big caveat

EarthBoy

colsten wrote: »

The travel insurance was part of the T&Cs that you accepted when you applied for the account

Did the travel insurance exist 20 years ago when chelseablue opened their account? It's been around quite a few years, but I don't think it's that old, so it's possible that chelseablue was never told about it if they've never met the qualifying criteria.

keef-WhatStandards

Is the 5% account still available? Had a issue 8 account I think last year and had to open an issue 9 this year to gett he interest. This years is comming to an end this month, so need a replacement, but I can't see an issue 10?

IvanDP

I did consider swapping my basic FlexAccount for the flexPlus account, but, as I still get the free European travel insurance, and we travel a lot, having to pay for Annual multi trip travel insurance would eat into the £100 odd that we would earn in interest.
If as the OP has said, they do not get, or have no need for the insurance, then the FlexPlus is a no brainer.