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soulsaver

FTAOD: You'll only be able to get 2 Flex Direct 5% incentive interest rates between a couple, not 3.. because you can't be first named on the JtAc to get the 5%.. so that means your OH couldn't hold one & get the 5% as she can't have one in her own name & be first named on 'your' joint...

From T&Cs page 18 Flex Direct

1. Account holding and ownership: 1.4 You will only be entitled to one introductory rate or offer (where applicable) on a Nationwide Group current account product.

Eco_Miser

The T&Cs certainly say that, but http://www.nationwide.co.uk/products/current-accounts/flexdirect/rates-fees-overdrafts says

Opening multiple FlexDirect accounts:
Under the terms and conditions of this account customers are only entitled to one promotional credit interest rate of 5% AER. (4.89% gross p.a) fixed. The only permitted exception to receive more than one promotional rate is if the additional account is held in joint names.

ETA This is mentioned in numerous threads such as https://forums.moneysavingexpert.com/discussion/5589897

00jjwill

Great, thanks for the responses.

The other thread on FlexDirect is a little inconclusive. Does anyone have first hand experience of 3 FlexDirect Accounts being set up between a couple (2 individual, 1 joint) that can vouch for whether you can get 5% on upto £7,500?

The other question I had is whether I'm likely to encounter an issue trying to set up so many new current accounts in a short space of time (given my HSBC account was opened in the last few months too). I have a reasonable credit score but I'm aware each account application would impact upon it.

Thanks.

adindas

00jjwill wrote: »

Great, thanks for the responses.

The other thread on FlexDirect is a little inconclusive. Does anyone have first hand experience of 3 FlexDirect Accounts being set up between a couple (2 individual, 1 joint) that can vouch for whether you can get 5% on upto £7,500?

Thanks.

00jjwill or other. Would you please shed the light where the link of this discussion please ?

Jo_Blogs

adindas wrote: »

00jjwill or other. Would you please shed the light where the link of this discussion please ?

I think it's this one: https://forums.moneysavingexpert.com/discussion/5589897

Jo_Blogs

00jjwill wrote: »

Great, thanks for the responses.

The other thread on FlexDirect is a little inconclusive. Does anyone have first hand experience of 3 FlexDirect Accounts being set up between a couple (2 individual, 1 joint) that can vouch for whether you can get 5% on upto £7,500?

Soulsave has already answered and clarified.........I also got in touch with Nationwide this morning to double check, and the following is correct :

soulsaver wrote: »

FTAOD: You'll only be able to get 2 Flex Direct 5% incentive interest rates between a couple, not 3.. because you can't be first named on the JtAc to get the 5%.. so that means your OH couldn't hold one & get the 5% as she can't have one in her own name & be first named on 'your' joint...
.

The other question I had is whether I'm likely to encounter an issue trying to set up so many new current accounts in a short space of time (given my HSBC account was opened in the last few months too). I have a reasonable credit score but I'm aware each account application would impact upon it.

MPO - Open accounts slowly. Decide on a particular bank/building society, get all the accounts you are entitled to before going on to the next.

HTH - all the best

adindas

Jo_Blogs wrote: »

I think it's this one: https://forums.moneysavingexpert.com/discussion/5589897

I think you could only say you get 5% once you have seen that interest is paid into your A/C.

How do you know you will be getting 5% on your third RSA ?

ceredigion

soulsaver wrote: »

FTAOD: You'll only be able to get 2 Flex Direct 5% incentive interest rates between a couple, not 3.. because you can't be first named on the JtAc to get the 5%.. so that means your OH couldn't hold one & get the 5% as she can't have one in her own name & be first named on 'your' joint...

From T&Cs page 18 Flex Direct

1. Account holding and ownership: 1.4 You will only be entitled to one introductory rate or offer (where applicable) on a Nationwide Group current account product.

Wrong.

00jjwill wrote: »

Great, thanks for the responses.

The other thread on FlexDirect is a little inconclusive. Does anyone have first hand experience of 3 FlexDirect Accounts being set up between a couple (2 individual, 1 joint) that can vouch for whether you can get 5% on upto £7,500?
Thanks.

Yes we have in the past, Between us. Two personal, a joint, and two RS

soulsaver

ceredigion wrote: »

Wrong.




Yes we have in the past, Between us. Two personal, a joint, and two RS

Not wrong - see post#4994. it's only 2 above...
In the past? Maybe they changed the T&Cs since then?

Jo_Blogs wrote: »

Jo Bloggs

Soulsave has already answered and clarified.........I also got in touch with Nationwide this morning to double check, and the following is correct :

Quote:
Originally Posted by soulsaver
FTAOD: You'll only be able to get 2 Flex Direct 5% incentive interest rates between a couple, not 3.. because you can't be first named on the JtAc to get the 5%.. so that means your OH couldn't hold one & get the 5% as she can't have one in her own name & be first named on 'your' joint...
HTH - all the best

.

Vortigern

We, as a couple, have 3 FlexDirect accounts (2 sole, 1 joint). All 3 accounts received £10.38 interest last month. It can be done!

What you can't have is 3 Flexclusive Regular Savers. For those a couple is limited to one sole account each.

ETA: I think some of the posts above this are confusing the FlexDirect current account with the Flexclusive Regular Saver.