RIPP OFF !! Nationwide Flex Account

bridian

MarkyMarkD wrote: »

No, it is a case of putting trust in a bank (sic: building society, actually) and its manager and not being arsed to read the literature provided.

Why do people have this ludicrous idea that bank (or building society) staff should be 100% perfect in their description of their products, and fail to read the literature as a consequence? They are sales people, exactly like the person in Curry's trying to sell you an extended warranty.

For the same reason that people have this ludicrous idea that I have to be a perfectionist in doing my job which is saving lives and if I didn't do my job properly when it comes to you, then I'm sure you'd be saying something about it. It is a case of taking pride in your work and for the customer or whatever to be able to trust the people of the company. PERIOD!!

bridian

PBA wrote: »

This isn't the first time an advisor has sold a current account when a savings account should have been sold, and it won't be the last. Yes it's your word against theirs, but Nationwide have been making £££s out of you by paying you 0.1% on £22k. I'd suggest working out exactly how much interest you would have received if you'd been paid the full rate on the full balance, and demand that amount in your initial complaint letter.

We weren't even told it was a current account!!
And you are absolutely correct in that they are making ££££ of money out of, like so many think, foolish and stupid people just like me. Well if it takes this foolish person to warn other potentally foolish people from making the same mistake, then this thread has not been a complete waste. After all, we can't all be 100% perfect.

Inactive

bridian wrote: »

This is not a case of not being arsed to read it but a case of showing condfidence and trust in a bank and its manager that is reputable as a norm. These are people that many millions of people place their trust. I'm pleased that you havn't had any problems but I'm sure that there many who have. Thank you however for your time to reply.

I am still not sure how you can justify using the heading when the information is freely available to everyone, the fact that you didn't bother to read it is ultimately your own fault, whatever any member of Nationwide's staff may or may not have told you.

They were not trying to hide anything from you, had they have been, I could understand using the heading.

bridian

Inactive wrote: »

I am still not sure how you can justify using the heading when the information is freely available to everyone, the fact that you didn't bother to read it is ultimately your own fault, whatever any member of Nationwide's staff may or may not have told you.

They were not trying to hide anything from you, had they have been, I could understand using the heading.

I fully accept it's my fault for not reading but I still think they should have pointed out that the investment was way over for the 4%+. Especially as she sat with us and confirmed that yes, we would get the 4% on the balance of what we invested. That is the gripe for me, not the company.

Dunwunderin

Hi,
Have operated a Flexaccount coupled with E savings account for many years with excellent service,
It is clear that a Flexaccount is equivalent to a Bank current account and is designed for day to day banking NOT for long term savings. I keep the minimum cash in my flexaccount and move surplus to other Savings accounts as required.
It is a question of horses for courses!

noh

bridian wrote: »

We weren't even told it was a current account!!
..............

Didn't receiving a cheque book and maybe a debit card give you a clue? Did you not read the literature they would have sent to you after the account was opened?


Nigel

bridian

Dunwunderin wrote: »

Hi,
Have operated a Flexaccount coupled with E savings account for many years with excellent service,
It is clear that a Flexaccount is equivalent to a Bank current account and is designed for day to day banking NOT for long term savings. I keep the minimum cash in my flexaccount and move surplus to other Savings accounts as required.
It is a question of horses for courses!

This is what we were told the other day when we went to see somebody else in the branch. He was in fairness very nice to us. Not his fault. He then mentioned the e-savings. This is something else that was not mentioned when we opened the account originally. The question is now what to do with the money, as it has to go elsewhere. I have some in other online accounts and was looking at the B&B and teh ICICI but I'm being put off with some problems people are experiencing. What I want is for about 10k to go into a branch account where I can readily get access to some money quickly without waiting for days, plus if I don't need to use it, I obviously want it to gain the best possible interest. My isa's are to the limit so some more will go there in April. I won't go over 35k in any account so I have to leave room for interest in the others. This is why I need 1 branch account other than my current. I don't like the idea of all of it being in the online accounts, just in case my computer crashes

Calchas

Thank you for your post bridian. You wrote it in good faith, mainly to warn others of your mistakes and I am grateful for that.

In order for you to warn others of course, you had to endure the usual bores posting the bleeding obvious in order to show some sort of superiority.

This behaviour happens in many threads of this type, but hopefully it will not deter people such as yourself from alerting others when one recognises that there is a possibility someone else may learn from another's misfortune.

RayWolfe

You may well be right Calchas ... but the heading invites comment.
It ain't a RIP-OFF it's a !!!!-UP.
So many problems here are just that, they need to be sorted but not to do it via the standard Express, Daily Mail ignorance of situations and language.

bridian

Calchas wrote: »

Thank you for your post bridian. You wrote it in good faith, mainly to warn others of your mistakes and I am grateful for that.

In order for you to warn others of course, you had to endure the usual bores posting the bleeding obvious in order to show some sort of superiority.

This behaviour happens in many threads of this type, but hopefully it will not deter people such as yourself from alerting others when one recognises that there is a possibility someone else may learn from another's misfortune.

thank you Calchs. and you are correct that it is to warn others. As for the endurance of people who don't err in their lives, I have encountered many and none are more superior or inferior, I'm pleased to say. I would write the same agian if I had to, as I still think I was ripped off for not being told what I should have but I thank you for your support and understanding.:T