Nationwide Reducing Flexaccount Interest rates???

DaveK

LittleVoice wrote: »

I fear that the Nationwide branch didn't know what it was talking about. Almost all of my payments into my Flex account are by cash or cheque - and I certainly received the appropriate amount of interest last year. I can't believe they have changed their rules on this.

Now that wouldn't be the first time Nationwides staff have told total rubbish!

Mind you at least they are in the same country and do actually speak English.

simax

So, does anyone know if I can hit the threshold by using my debit card idea?

Cheers

Coveredinbees!!!!

I sent a message to nationwide asking why they have slashing my innterest rate and all I have had back so far is a this

Thank you for your recent message and for giving us the opportunity to
deal with the issues you have raised.

The Nationwide Group uses the Financial Services Authority rules when
dealing with customers' concerns. I've enclosed a link which will
explain our Internal Complaints Procedure.

http://www.nationwide.co.uk/contact_us/making_a_complaint/making_a_compl
aint.htm
<http://www.nationwide.co.uk/contact_us/making_a_complaint/making_a_comp
laint.htm>

In accordance with our complaints procedure, your complaint is being
investigated by our relevant business areas. You will receive a full
response within 28 days.

Regards,

Internet Services

http://www.nationwide.co.uk <http://www.nationwide.co.uk/&gt;

Nationwide. Proud to be different.

Different as in the same as the rest, I been with NW for 30 odd years in one form or another but I think I'll be much longer

Dylanwing

Is it not easier to just have one of the E Savings acounts with an instant transfer facility rather than sitting a large balance on the Flex Account? My old Bank Manager always used to tell us what a great product a current account was, all standing orders, direct debits and cheques for free, as long as you stayed in credit. He opposed paying interest because 'We are not here to manage peoples money for them'. And as the good times end, the wheel will turn full circle back to that philosophy.

olly300

Dylanwing people in this country are used to banks giving them free banking and lots of interest on their current account. They don't realise that compared to other European countries where people have to pay charges for having a current account with a debit card that we are spoilt.

losthour

Does anyone know whether it is OK to withdraw cash then re-pay it in to hit the 1.5k yet? I only get around 1.1k p/m so would have to take out money twice to do it.

I'm annoyed with nationwide about this and my ISA still hasn't been set up from April 30th.:mad:

noh

losthour wrote: »

Does anyone know whether it is OK to withdraw cash then re-pay it in to hit the 1.5k yet? I only get around 1.1k p/m so would have to take out money twice to do it.

I'm annoyed with nationwide about this and my ISA still hasn't been set up from April 30th.:mad:

Yes it probably would be ok but is it worth the effort?
If your average balance is £500 a month you would make yourself an extra £6 a year (50p a month) after tax.

Nigel

losthour

noh wrote: »

Yes it probably would be ok but is it worth the effort?

Certainly is

noh

losthour wrote: »

Certainly is

Really?
You would be better off tansferring yuor money to an esaver and transferring it back to the flex accout when needed. That way you dont need to leave home and potetially spend more than 50p on transport.

Nigel

losthour

noh wrote: »

Really?
You would be better off tansferring yuor money to an esaver and transferring it back to the flex accout when needed. That way you dont need to leave home and potetially spend more than 50p on transport.

Nigel

I wouldn't need to leave home anyway to do bank transfers from accounts etc. Just a few clicks. I'm not moving accounts again for a bit as I'm moving my ISA currently and that is enough hassle as it is.

I walk everywhere too so no 50p transport anyway