Nationwide Flexaccount

System

Existing customers (those who never had a FlexDirect before) can get or convert their existing current account to a FlexDirect and obtain the intro 5% for the year.

Nationwide used to let you obtain this again after one calendar year without a FlexDirect (by closing/converting the account) but this rule was scrapped.

Now it's just 1% after the initial time.

abz88

ceredigion wrote: »

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

Just spotted this reply now, how do you 5?!

badger09

abz88 wrote: »

Just spotted this reply now, how do you 5?!

If you mean 'how do you have 5 FlexDirect accounts' - the answer is simple.

You apply for them.

However, you will only receive 5% on one, and one joint, as previously discussed.

colsten

keef-WhatStandards wrote: »

Usual trick of paying new customers more than loyal ones.

There is no trick involved at all. All customers, new and existing, have exactly the same opportunity and T&Cs: they can have 5% AER on up to £2,500 for 12 months, and 1% AER thereafter, on one sole, and one joint account.

abz88

badger09 wrote: »

If you mean 'how do you have 5 FlexDirect accounts' - the answer is simple.

You apply for them.

However, you will only receive 5% on one, and one joint, as previously discussed.

So no point/benefit in having 5 then...

MothballsWallet

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

I have one and I get a letter every year when the cover is renewed.

YorkshireBoy

abz88 wrote: »

So no point/benefit in having 5 then...

When I last had 3 FlexDirect accounts I was stoozing a total of £7.5K of 'free for a year' overdraft facility (£2.5K per account). That's a "benefit".

abz88

YorkshireBoy wrote: »

When I last had 3 FlexDirect accounts I was stoozing a total of £7.5K of 'free for a year' overdraft facility (£2.5K per account). That's a "benefit".

Yes, that would a benefit of 3 accounts, but would you have had a overdraft facility of £2.5k on accounts 4 and 5?

ceredigion

abz88 wrote: »

Yes, that would a benefit of 3 accounts, but would you have had a overdraft facility of £2.5k on accounts 4 and 5?

You seem fixated on this. Back when Nationwide introduced their FlexDirect account on to the market. The only restriction was the amount of accounts that they would allow you to open, quite possibly an over site on their part. Many on here at the time quickly discovered that the sixth application was declined. About five months later they obviously couldn't stand it any more and changed the T&C's to remove the interest from all but one account. So I know their computers will allow five at any one time, whether they will give someone free overdrafts is of course business decision of theirs.

BoxerfanUK

Can someone please clarify? If we open one flex direct in my name, one in my OH's name, and one joint, will we get the 5% interest on each of these accounts?