New Nationwide Switch - both new and existing?

AndyPK

So if I already have a FlexDirect, and transfer my Tesco to them, will I end up with 2 FlexDirect ? 

colsten

AndyPK said:

yeah I couldn't find that on their website

Assuming your comment is about the interest rate on the FD, it's all there: https://www.nationwide.co.uk/current-accounts/flexdirect

schiff said:

Having waded through these 28 pages for the useful information (TYVM) I find it a miracle of biblical proprtions that there has been no mention of:

- 2% AER fixed savings interest on up to £1,500 in year 1 (then 0.25% AER variable) if you pay in at least £1,000/mth.
(from the MES email). Have I missed it?

Most of the Forum regulars probably have not qualified for the introductory interest rate on the FlexDirect for several years now. That's presumably why nobody has got excited about it (though I do recall one person asking whether they could have a second helping).

In any event, this is about the switch offer, not about the individual merits (or lack of them) of the Nationwide current accounts that you can switch into.

Zanderman

AndyPK said:

So if I already have a FlexDirect, and transfer my Tesco to them, will I end up with 2 FlexDirect ? 

Not if you switch into your existing FlexD.

Tharweb

AndyPK said:

yeah I couldn't find that on their website

It's mentioned here https://www.nationwide.co.uk/current-accounts/flexdirect/

Speaking of this 2% in credit interest. Has anyone who has opened a FlexDirect since 18th August seen this interest mentioned on their account, there's nothing showing on mine and I have never had a Flex Direct before.

Zanderman

Tharweb said:

AndyPK said:

yeah I couldn't find that on their website

It's mentioned here https://www.nationwide.co.uk/current-accounts/flexdirect/

Speaking of this 2% in credit interest. Has anyone who has opened a FlexDirect since 18th August seen this interest mentioned on their account, there's nothing showing on mine and I have never had a Flex Direct before.

What are you expecting to see? 
If you're eligible for the 2% it'll be paid, monthly iirc, so wait a while (it's been less than a week so far).

pearl123

Fingerbobs said:

pearl123 said:

I've just set up a water direct debit to come out on the 7th. Do I need to apply for a switch with Nationwide after this date or fill out the switch now. And then request a switch after th 7th?

You would probably be ok applying for the switch now, but personally I am going to wait until after each DD has been taken at least once from my donor account before even applying for a switch. Just removes any doubt. 

I started the process of switching early, as just in case they pull the offer. I actioned it to go through after both direct debits had been processed, which would be around the 17th. 

Tharweb

Zanderman said:

Tharweb said:

AndyPK said:

yeah I couldn't find that on their website

It's mentioned here https://www.nationwide.co.uk/current-accounts/flexdirect/

Speaking of this 2% in credit interest. Has anyone who has opened a FlexDirect since 18th August seen this interest mentioned on their account, there's nothing showing on mine and I have never had a Flex Direct before.

What are you expecting to see? 
If you're eligible for the 2% it'll be paid, monthly iirc, so wait a while (it's been less than a week so far).

My other savings account clearly shows the rate of interest payable, this one doesn't. I'll check again in a few days. Just wondering if anyone is seeing the same. 

eskbanker

Tharweb said:

Zanderman said:

Tharweb said:

AndyPK said:

yeah I couldn't find that on their website

It's mentioned here https://www.nationwide.co.uk/current-accounts/flexdirect/

Speaking of this 2% in credit interest. Has anyone who has opened a FlexDirect since 18th August seen this interest mentioned on their account, there's nothing showing on mine and I have never had a Flex Direct before.

What are you expecting to see? 
If you're eligible for the 2% it'll be paid, monthly iirc, so wait a while (it's been less than a week so far).

My other savings account clearly shows the rate of interest payable, this one doesn't. I'll check again in a few days. Just wondering if anyone is seeing the same. 

Is there any money in it yet?  I could be wrong but seem to recall that they don't show the interest rate until the account is funded (as no interest is payable on a zero balance)....

General_Grant

Tharweb said:

Zanderman said:

Tharweb said:

AndyPK said:

yeah I couldn't find that on their website

It's mentioned here https://www.nationwide.co.uk/current-accounts/flexdirect/

Speaking of this 2% in credit interest. Has anyone who has opened a FlexDirect since 18th August seen this interest mentioned on their account, there's nothing showing on mine and I have never had a Flex Direct before.

What are you expecting to see? 
If you're eligible for the 2% it'll be paid, monthly iirc, so wait a while (it's been less than a week so far).

My other savings account clearly shows the rate of interest payable, this one doesn't. I'll check again in a few days. Just wondering if anyone is seeing the same. 

The Flex Direct account is not a "savings account".  

AndyPK

Flex Direct has always paid a good interest in the first year. (unless you have had one previously)

The interest rate doesn't show in the app, like savings accounts