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Bonus and Incentive Eligibility Switching to Nationwide FlexDirect
Hello
I am looking to switch a TSB Current account to a nationwide FlexDirect account, and take advantage of the £175 switching bonus plus the 5% credit balance interest and 1% cashback incentives. I will be paying in over £1000 per month either from BACS Salary payment or a standing order from my other First Direct Current account.
£175 Switching Bouns Eligibility
The Top Bonuses for switching Notes on here say you must switch in an account that has 2+ direct debits, Can anyone advise if the the direct debits need to be regular payments or would direct debit mandates for irregular payments also meet the criteria I have 3 direct debits setup on my TSB Account none of which are regular every month payments, one is Council tax which I think pays 10 months in every 12 months, one is a credit card payment which clears the credit card balance and usually pays a direct debit 4 or 5 months in every 12 months and the other is a Currency Linked account which is only used when I go Abroad on Holiday so only pays the direct debits when I am spending abroad
Eligibility for 5% credit interest and 1% cashback for 12 months
The Top Bonuses for switching Notes on here seem to say these incentives are available on a Flex Direct account which is fee free as long as you pay in £1000 per month but then it goes on to distinguish between flex plus accounts (Not fee Free) being eligible and Flex accounts (Fee Free) being ineligible. I do not want a fee paying account as I do not have a car and only holiday abroad 1 or 2 times a year. Can anyone advise if these incentives are available on a fee free flex direct account
Likelihood of Eligibility for future Nationwide fairer share payments
I am not looking for an account that I want to be switching over and over again so the possibility of qualifying for future fairer share payments is also appealing
please would anyone give their opinion on weather running this type of account with over £1000 per month regularly paid in along with a linked nationwide regular saver account saving £100 per month would be likely to provide Eligibility for any future Nationwide fairer share pay outs
The last payout criteria for this type of account stated
pay in at least £500 / Month from a non-Nationwide account (Would that include BACS Salary payments from an employer?)
Thanks in advance for any advice received.
Comments
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£175 Switching Bouns Eligibility
The Top Bonuses for switching Notes on here say you must switch in an account that has 2+ direct debits, Can anyone advise if the the direct debits need to be regular payments or would direct debit mandates for irregular payments also meet the criteria I have 3 direct debits setup on my TSB Account none of which are regular every month payments, one is Council tax which I think pays 10 months in every 12 months, one is a credit card payment which clears the credit card balance and usually pays a direct debit 4 or 5 months in every 12 months and the other is a Currency Linked account which is only used when I go Abroad on Holiday so only pays the direct debits when I am spending abroad
If the DDs had to be a certain regularity or frequency then this would be specified.
Eligibility for 5% credit interest and 1% cashback for 12 months
The Top Bonuses for switching Notes on here seem to say these incentives are available on a Flex Direct account which is fee free as long as you pay in £1000 per month but then it goes on to distinguish between flex plus accounts (Not fee Free) being eligible and Flex accounts (Fee Free) being ineligible. I do not want a fee paying account as I do not have a car and only holiday abroad 1 or 2 times a year. Can anyone advise if these incentives are available on a fee free flex direct account
The 5% interest and 1% cashback applies to FlexDirect.
The last payout criteria for this type of account stated
pay in at least £500 / Month from a non-Nationwide account (Would that include BACS Salary payments from an employer?)
Yes.
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Re the Flex Direct accounts and benefits, this is answered here
FlexDirect
Our self-service bank account that pays you to bank with us. Get 5% interest on your money and 1% cashback on debit card purchases for 12 months. Conditions apply.
No monthly fee
Think the answer to all your other questions is Yes.
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2 active direct debts just to be on the safe side i would have them being paid in the 31 days after switch.
Make sure to use the debt card at least once on qualifing transactions
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The eligibility criteria for the Fairer Share isn't announced in advance. Based on previous years' conditions you would qualify, but none of us can be certain what the criteria will be in future.
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Fairer share has been, for the last few years, hold £100 in savings, pay in £500 a month, have 2+ transactions a month in the qualifying period (can be DDs, payments, moving money in and out etc). Switching in a certain period automatically qualified in previous years
It might change
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Isn't there a 2027 thread yet for the Fairer share? 😶
Let's Be Careful Out There0 -
I just start doing the shuffle of funds around October/November and doing a couple of small purchases + have the savings in, I am sure it will begin and then 4000 posts on the thread of people saying they got paid
If I was a mod here I would create 1 post saying "Fair Share has been confirmed and paid on XYZ date" and lock it, delete any new threads and ban anyone opening a thread to post they got paid :D
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Nationwide Fairer Share 2027
Just thought everyone would like to know that I have not yet received my Fair Share 2027.
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The cheque is in the post but delayed by Royal Mail until 2028.
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