Make sure you get possible Nationwide Fairer Share bonus 2025

General_Grant

Ballard said:

Could I ask what the definition of ‘payment’ is? I’ve been sending faster payments, but should I consider debit card payments too?

I've received the payments for both years the scheme has operated.  I don't use the debit cards, only use FPs.
(If they changed the criteria by adding use of a debit card then I would, of course, miss out.)

gary1312

Bob2000 said:

I missed out last year because l wasn't even aware  of it, joined the MSE forum in October, and picked up loads of information. 
Anyway, I'm currently  doing £550 into my flexaccount  for Jan, Feb, and March and basically  using my debit card for grocery  shopping with my RS and bond savings. Should l be OK?

No-one can say for sure - if the terms for any payout are the same as last year, then you're golden - as long as you also have £100 in a qualifying savings account as per the original post. I can't imagine the Society risking a backlash by, say, tweaking it by doubling the pay-in requirement.

PRAISETHESUN

I bounce a few payments back and forth by SO and increased the amounts last year as a precaution in case they decided to increase the requirements; 1 payment in and multiple payments out, which met the criteria for me last year. As a fall back I've also done a CASS switch using a dummy Chase account, as in the past they've accepted a switch in lieu of meeting the pay-in requirements. For savings I have a RS which pays a decent interest rate. I'm expecting the criteria will be increased at some point, if only to keep pace with inflation, but they might just decide to do away with the incentive payment in place of something else entirely.

Nasqueron

The Flex Account with the 5% interest on £1500 needs £1000 in and out to qualify for the interest so it's easy enough

SickGroove

Can you buy Amazon £5 top ups as part of the required debit card transactions?

ChewyyBacca

Nasqueron said:

The Flex Account with the 5% interest on £1500 needs £1000 in and out to qualify for the interest so it's easy enough

Where in the app do you see 5% on current account? I dont see in app or in online banking. I called to confirm, the executive said im eligible for 4.89% on the current account. Im not sure I do, I held Nationwide Flex current account in 2020 & closed in 2021

PRAISETHESUN

ChewyyBacca said:

Nasqueron said:

The Flex Account with the 5% interest on £1500 needs £1000 in and out to qualify for the interest so it's easy enough

Where in the app do you see 5% on current account? I dont see in app or in online banking. I called to confirm, the executive said im eligible for 4.89% on the current account. Im not sure I do, I held Nationwide Flex current account in 2020 & closed in 2021

You only get 5% on the first ever FlexDirect account you hold. Even if you close and open a new account, you can only ever get the bonus once. Once upon a time you used to be able to get repeat bonuses but they cracked down and it's been this way for several years at least

boingy

Do you ever wonder whether NW read these sort of threads?

eskbanker

PRAISETHESUN said:

ChewyyBacca said:

Nasqueron said:

The Flex Account with the 5% interest on £1500 needs £1000 in and out to qualify for the interest so it's easy enough

Where in the app do you see 5% on current account? I dont see in app or in online banking. I called to confirm, the executive said im eligible for 4.89% on the current account. Im not sure I do, I held Nationwide Flex current account in 2020 & closed in 2021

You only get 5% on the first ever FlexDirect account you hold. Even if you close and open a new account, you can only ever get the bonus once. Once upon a time you used to be able to get repeat bonuses but they cracked down and it's been this way for several years at least

Nationwide's unhelpful account naming convention does tend to cause confusion - the FlexAccount is a different product from the FlexDirect account!

Nasqueron

Yes I should have said Flex account not Account, my mistake

In a way it's a pain as I should have done Santander 6% edge saver first then switched to Flex after the initial rate ran out as I don't use Flex very much now beyond the £1000 shuffle and their regular saver in the hope of the fair share