Nationwide Flex Direct cashback

poblomov

Doesn't seem to have been mentioned on here yet?

Nationwide are now offering cashback on direct debits and debit card payments for 12 months for new (can't have had one in the last 3 years) Flex Direct accounts.

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

Section62

If I've understood the T&C's correctly it looks like you can get the 5% interest on up to £1500 as well if you last had a FlexDirect account more than three years ago. Prior to this offer the 5% had been treated as a once-in-a-lifetime thing.

clairec666

I thought the cashback offer looked good, but on closer inspection, it's not great for single people in small properties whose household bills are lower.

(Yes, I know I could set up a DD to Moneybox or something like that to make up the amount…. I just like any excuse to moan about the "single person" tax.)

HillStreetBlues

https://forums.moneysavingexpert.com/discussion/comment/82131767#Comment_82131767

On the other hand you wouldn't have to share it 😁

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82131988#Comment_82131988

True, true…. also I don't have to share my cheese. And all the many other benefits of living alone and not having to deal with other people every day.

Rich1976

https://forums.moneysavingexpert.com/discussion/comment/82132058#Comment_82132058

nobody should have to share their cheese with anyone , single or not.

I might remember that so I can scoff it all myself 🤣🤣

bagand96

Come on then MSE Forum.... Easiest way to spend £500 on a debit card each month?

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/82132356#Comment_82132356

https://forums.moneysavingexpert.com/discussion/comment/81895906#Comment_81895906

plus other posts in that thread for investment accounts and miscellaneous others…

ircE

If you spend £800pcm then I suppose you could spend the first £300 of that on a credit card with a DD set up from this account, and the remaining £500 on the debit card. You can keep the credit card repayment amount in that account (earning 5%) and get more on top if it's a cashback credit card. If that gets you the 2 x £5 payments then you're getting £10 on £800 (1.25%) + credit card cashback + interest, which must be better than most cashback payment methods currently available?

seriously

My wife and I had Flex Direct accounts over 3 IIRC so we should be able to each open one for the benefits. However, would it also count for a joint i.e 3 accounts between us two?