nationwide flexdirect vs flexaccount

tiger135

hi i have both of these accounts and dont know any difference.between them, id like to close one and just use one current account.
is there any difference, is one better than the other?

Section62

tiger135 said:

hi i have both of these accounts and dont know any difference.between them, id like to close one and just use one current account.
is there any difference, is one better than the other?

FlexDirect pays interest (subject to T&C's) but doesn't allow full use of branch services.

Assuming you aren't still getting the first year boosted interest then I'd close the newer of the two accounts and keep the older one, as that may benefit you in future if Nationwide have an offer or payout based on length of time an account has been open for.

On the other hand, there is no overwhelming reason (other than tidiness) to close either account.  Just pick one, stop/transfer all outgoing transactions, reduce the balance to £1, and leave it like that until you either want to use it again, or switch it to another provider, or (very unlikely) Nationwide decide to close unused accounts.

tiger135

Thanks, I think the flexdirect originally paid 5% many years ago. Thats the older account. 

km1500

Flexdirect does not allow paper statements

grumbler

https://www.nationwide.co.uk/current-accounts/compare/