Nationwide £100 share ... children's accounts??

balsingh

Today the whole family got separate letters from Nationwide saying we were eligible for the £100. Surprisingly, this included my kids who both have Future Saver and Child Trust Funds with Nationwide. The confusing part of this is that it says the £100 payment will be paid into a current account. My kids don't have current accounts ... is that likely to impact them getting the payment?

Thx.

ForumUser7

balsingh said:

Today the whole family got separate letters from Nationwide saying we were eligible for the £100. Surprisingly, this included my kids who both have Future Saver and Child Trust Funds with Nationwide. The confusing part of this is that it says the £100 payment will be paid into a current account. My kids don't have current accounts ... is that likely to impact them getting the payment?

Thx.

One of the requirements for the £100 is to hold a current account with a certain level of activity (eligibility varies between account types). Do your children not hold a FlexOne current account? Have they ever held one (particularly at the end of March 2023)?

If not, might be worth getting in touch with Nationwide to check, as if I’ve understood correctly they are not eligible. Alternatively, given you have the letter you could wait and see, and query it if it doesn’t arrive. If you get in touch, it may set off alarm bells as they realise. Perhaps you could consider opening a FlexOne for each of them in the meantime, pretty sharpish so in advance of the payment dates, so there is a CA for the payment to go to. YMMV of course, but good luck!

balsingh

I stand corrected. They do have FlexOne accounts as well as the others. All makes sense now! Under my internet banking, I can see their CTF and saver accounts ... but the FlexOne is self managed so I forgot those, Thanks.