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Nationwide flex direct -5%
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reecemoore
Posts: 4 Newbie

Not sure if anyone else has already asked this so apologies. I opened my account in June 2019, didn’t really use it much but now they are offering 5% I’m considering making use of it.
if I transfer 2.5K to the account from another bank. Will I get the 5%?
if I transfer 2.5K to the account from another bank. Will I get the 5%?
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reecemoore said:Nationwide flex direct -5%reecemoore said:Not sure if anyone else has already asked this so apologies. I opened my account in June 2019, didn’t really use it much but now they are offering 5% I’m considering making use of it.
if I transfer 2.5K to the account from another bank. Will I get the 5%?1 -
I know it’s a shame! Thanks for letting me know!0
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They've offered 5% since you opened the account.3
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And don't just put the £2.5K in. Remember to pass at least £1K (also from non-Nationwide account) through the account in May
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The Nationwide state: "To earn 5% AER (4.89% gross p.a.) interest on balances up to £2,500 you’ll need to pay in £1,000 a month, not counting transfers from other Nationwide accounts or Visa credits". Abiding by this requirement, after 12 month the account would hold £13,620.00 (fag packet calculation). Having paid in a total of £13,500.00 is the interest on the total closer to 1%?
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fslweb said:The Nationwide state: "To earn 5% AER (4.89% gross p.a.) interest on balances up to £2,500 you’ll need to pay in £1,000 a month, not counting transfers from other Nationwide accounts or Visa credits". Abiding by this requirement, after 12 month the account would hold £13,620.00 (fag packet calculation). Having paid in a total of £13,500.00 is the interest on the total closer to 1%?0
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I have opened another FlexDirect account today in order to receive the 5% interest for another year, as it states depending on when you opened your previous account, whether you will receive it. Mine was 3 years ago, so it's worth it to see if I get the 5%
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ioscorpio said:I have opened another FlexDirect account today in order to receive the 5% interest for another year, as it states depending on when you opened your previous account, whether you will receive it. Mine was 3 years ago, so it's worth it to see if I get the 5%0
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I downloaded this document during the application P7430 rates and charges. 5) If you’ve previously held a FlexDirect account and beneftted from the 5% or 2% AER introductory rate (depending on when you applied) you will not be entitled to this rate again and the 0.25% AER rate will apply, unless you’re opening a FlexDirect account in joint names and you haven’t previously held a FlexDirect account in those joint names
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ioscorpio said:I downloaded this document during the application P7430 rates and charges. 5) If you’ve previously held a FlexDirect account and beneftted from the 5% or 2% AER introductory rate (depending on when you applied) you will not be entitled to this rate again and the 0.25% AER rate will apply, unless you’re opening a FlexDirect account in joint names and you haven’t previously held a FlexDirect account in those joint names
As you have previously had a FlexDirect account and thereby received 5% interest for a year, why do you think the document you downloaded implies there is any possibility that you could receive the 5% again? I think it is absolutely clear you will not - unless the "unless" part applies.3
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