Nationawide Flexaccount Visa Debit - Minimum Balance

LZL03

I've just opened a Flexaccount and the only requirement was to credit the account with a minimum of £100.

What I'm miffed about is Nationwide's point blank refusal to allow people a Visa Credit Card unless they deposit a minimum of £500 each month. It does not matter if you have £30k £40k £50k deposable income , if your not working and cant get credit card. So I now have to stay with a Yorkshire bank Visa Credit Card and paying through the exortionate transaction charges on foreign exchange on purchase abroud until I get another job. I wouldn't mind, I've never had to pay interest on my credit card in over 30years.

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roddydogs

You dont need to keep anything in the a/c and theres no charges-but you could have found this out by phoning them!

Biggles

I always keep £100 in my accounts (most of it in the e-Saver, obviously).

It earns interest, it makes sure the account remains open, it's a start for next time I go abroad, plus it would qualify me for a windfall payment if Nationwide ever became a PLC.

Inactive

LZL03 wrote: »

I've just opened a Flexaccount and the only requirement was to credit the account with a minimum of £100.

What I'm miffed about is Nationwide's point blank refusal to allow people a Visa Credit Card unless they deposit a minimum of £500 each month. It does not matter if you have £30k £40k £50k deposable income , if your not working and cant get credit card. So I now have to stay with a Yorkshire bank Visa Credit Card and paying through the exortionate transaction charges on foreign exchange on purchase abroud until I get another job. I wouldn't mind, I've never had to pay interest on my credit card in over 30years.

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They don't, I have a NW Flexaccount, I certainly don't pay in £500 a month, yet I also have a NW Visa Credit Card.

igraev

LZL03 wrote: »

I've just opened a Flexaccount and the only requirement was to credit the account with a minimum of £100.

What I'm miffed about is Nationwide's point blank refusal to allow people a Visa Credit Card unless they deposit a minimum of £500 each month. It does not matter if you have £30k £40k £50k deposable income , if your not working and cant get credit card. So I now have to stay with a Yorkshire bank Visa Credit Card and paying through the exortionate transaction charges on foreign exchange on purchase abroud until I get another job. I wouldn't mind, I've never had to pay interest on my credit card in over 30years.

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You opened your bank account while being unemployed? I am asking because I'd like to open it mainly for travelling purposes, but am worried that I get rejected by them mainly for 2 reasons:
- I am a student and will only start working from September (have a contract to prove it - but guess that's irrelevant for their credit check)
- I recently (a couple of weeks ago) increased my credit limit on my second credit card-so it may have an effect on my credit history, although I had a good credit rating before moving properties last month, which also probably had an impact on my credit rating as well.

Can anyone else confirm if it's worth trying to open a bank account now or wait until employed? I will travel this summer, so I guess, if I try to open the account now, I can always try to do it later, once I'm employed....