Deposit Money into my Nationwide Current Account?

JohnSwift10

Does anyone think it would be worthwhile to deposit £100 into my Nationwide Flexdirect Current Account (currently £0 balance)  and open a savings account to maybe get £100 bonus from Nationwide?

Nasqueron

It depends on the qualifying criteria dates - if you need it in by say 1/1/24 to qualify for a payment say 1/9/24 then there is no point, if it has to be in by 1/9/24 for a payment 1/1/25 then it would be!

flaneurs_lobster

If the criteria for receiving a(ny) bonus this year are the same as last year (and there's no reason why they should be) then you would have had to have an active current account and savings/mortgage during March this year.

If you've got a spare couple of hundred quid then it's not going to do any harm leaving it with Nationwide, but don't assume it's going to qualify you for any freebies this year.

 

WillPS

As others have said, likely to be too late for anything this year, and probably too early for anything next year (if anything happens).

See what happens on May 23rd and make a judgment based upon that, I would advise.

wiseonesomeofthetime

Is May 23rd the target date this year then?

Checked earlier and my email from Nationwide, confirming eligibilty (on that occasion) was dated 19 May 2023

WillPS

https://www.nationwide.co.uk/about-us/fairer-share/

"Look out for an announcement on 23 May"

TheBanker

JohnSwift10 said:

Does anyone think it would be worthwhile to deposit £100 into my Nationwide Flexdirect Current Account (currently £0 balance)  and open a savings account to maybe get £100 bonus from Nationwide?

It can't hurt, but look at the criteria from last year (which others have linked to), and I think it's unlikely you'll qualify for any bonus this year. Last year you had to have an 'active' current account which meant depositing and making two withdrawels in two out of three months. It's not dissimilar to some of the criteria banks use for switching bonuses.

If anything, I would expect this year's criteria to be stricter, since they could spread the requirements out over a full year. I would expect there are lots of people who've made a series of in/out transactions over the first three months of 2024, based on last year's requirements, in the hope of qualifying.

jameseonline

WillPS said:

https://www.nationwide.co.uk/about-us/fairer-share/

"Look out for an announcement on 23 May"

Ahh I was going to ask if this was to do with Fairer Share, that or a switch offer or something.

The OP didn't say anything about what the thread was about.

It was like some sort of secret discussion where only certain people knew what was being talked about 🤣

WillPS

jameseonline said:

WillPS said:

https://www.nationwide.co.uk/about-us/fairer-share/

"Look out for an announcement on 23 May"

Ahh I was going to ask if this was to do with Fairer Share, that or a switch offer or something.

The OP didn't say anything about what the thread was about.

It was like some sort of secret discussion where only certain people knew what was being talked about 🤣

I'm not sure what other £100 bonuses to do with Nationwide there have been?

JohnSwift10

I deposited £200 anyway and used it to open a Flex Regular Saver Issue 3 account at 6.5%.

Another £86 approx in a year.

jameseonline

JohnSwift10 said:

I deposited £200 anyway and used it to open a Flex Regular Saver Issue 3 account at 6.5%.

Another £86 approx in a year.

Good luck, pretty sure if Nationwide do issue a fair payment it will be for people that have a current account, savings accounts etc already and have held a relationship with them for a while, not someone who just decided to open an account/deposit etc🤣

A lot of my money starts in Nationwide (then goes in Virgin then elsewhere)so my FlexDirect is active, I also have regular savings with them, which I pay into every month, 1 of which is ending next month (Start To Save Issue 2 @ 5.5%), the other in September (Flex Regular Saver Issue 2 @ 8%), also got a couple of other savings accounts with them.

Going forward I plan on getting the Flex Regular Saver Issue 3 if it's still available when my Issue 2 ends.

Got the £100 last time so if they do issue it again I'm pretty sure I'll get it again