FlexPlus account charge

TheShape

Can anyone remember at which point you become liable for the £13 pm charge for the Nationwide FlexPlus account? I seem to remember there being no charge in the first month.

To explain the reason for the question:

With no in credit interest but happy to pay £13 pm for the insurances and breakdown cover, I was intending to downgrade my FlexPlus to a FlexDirect and open a new FlexPlus almost immediately. Don't want to leave myself without travel insurance cover for long as have a holiday booked.

I know I could open a new FlexDirect but I'd rather downgrade the FlexPlus and maintain my Sort Code, Account number, DDs, SOs etc on what would remain my main account. I'll just feed the FlexPlus each month to cover the fee and use it for fee-free foreign cash withdrawals.

Aim is to carry out the above and avoid paying two account fees (old + new FlexPlus) in the month.

TheShape

Had more than one tab open. Posted in wrong Forum. Could someone move to Budgeting and Bank Accounts please.

Rich2808

The £13 a month charge is payable from when you open the account – albeit it is not collected until the last day of the month (i.e. in arrears).

So I can't see there is any real benefit to what you are proposing – as the £13 charge is payable for each month a flexplus is open..

If you have already booked a holiday there may be benefits to keeping the account (and travel policy) anyway – as your insurable benefits will apply from the date you booked your trip. You could have issues with claims if you or a partner/relative fall ill (or other issues crop up) so have to cancel while you are between NW accounts/policies.