Nationwide Flexdirect account

mind555

Just wanted to put this out there.

I have been a Nationwide Flexdirect customer for the last 3 years. Usually I get a letter at the end of 12 months telling me the 5% period is about to expire and you need to open a new account to continue the benefits.

This time I get no letter and unable to see how to apply fo the account online. But I still see they are advertising the same account. What gives? Contacting their customer support I get confirmation that existing customers can no longer apply for the benefit and "
As the FlexDirect is an online account we would not have sent any communication".

If your 5% period is coming up to expiry it's time to consider your options.

RG2015

The Flexdirect current account only gives 5% for one year. The regular saver used to give 5% for one year and then a new one could be opened. The regular saver was discontinued last year.

eskbanker

mind555 wrote: »

I have been a Nationwide Flexdirect customer for the last 3 years. Usually I get a letter at the end of 12 months telling me the 5% period is about to expire and you need to open a new account to continue the benefits.

This time I get no letter and unable to see how to apply fo the account online. But I still see they are advertising the same account. What gives? Contacting their customer support I get confirmation that existing customers can no longer apply for the benefit and "
As the FlexDirect is an online account we would not have sent any communication".

If your 5% period is coming up to expiry it's time to consider your options.

The loophole whereby an individual could obtain another year of 5% was closed off two years ago in January 2018, as announced in October 2017: https://forums.moneysavingexpert.com/discussion/5727599/flexdirect-latest-ts-cs-from-nationwide-effective-january

The 5% always was advertised as an introductory 12-month promotional rate but has been enforced as such since then....

Zanderman

mind555 wrote: »

I have been a Nationwide Flexdirect customer for the last 3 years. Usually I get a letter at the end of 12 months telling me the 5% period is about to expire and you need to open a new account to continue the benefits.

As others have said, you can't renew the 5% on a FlexD account at all anymore - that change was made 2 years ago.

But even before that Nwide never wrote to tell you that you need to open a new account to continue the benefits every 12 months.

Indeed you couldn't even back then , you had to have NOT had a FlexD account for 12 months before opening another if you wanted 5% again. I think you're mis-remembering how things were!