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  • FIRST POST
    • rebeccakate
    • By rebeccakate 14th Jun 19, 1:22 PM
    • 1Posts
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    rebeccakate
    Nationwide Flex Direct 5% - can I send min payment back and forth between accounts?
    • #1
    • 14th Jun 19, 1:22 PM
    Nationwide Flex Direct 5% - can I send min payment back and forth between accounts? 14th Jun 19 at 1:22 PM
    Hello

    I'm looking at getting the Nationwide Flex Direct - 5% interest fixed on 2500!!

    You need to pay in 1000 each month to get the interest.

    So if I initially put in 2500, then if I sent 1000/ month into the account and then sent it back out (say 990 out/month), would I still qualify for the interest?

    (Also second question - they do a credit check. Would this appear on my credit score report?)

    Thanks!
Page 1
    • ColdIron
    • By ColdIron 14th Jun 19, 1:42 PM
    • 5,442 Posts
    • 7,471 Thanks
    ColdIron
    • #2
    • 14th Jun 19, 1:42 PM
    • #2
    • 14th Jun 19, 1:42 PM
    Yes and sort of yes. Your credit score is a meaningless number that banks do not see but the credit check will be available to them. It might or might not affect your number/score
    Last edited by ColdIron; 14-06-2019 at 1:45 PM.
    • xylophone
    • By xylophone 14th Jun 19, 1:43 PM
    • 31,458 Posts
    • 19,493 Thanks
    xylophone
    • #3
    • 14th Jun 19, 1:43 PM
    • #3
    • 14th Jun 19, 1:43 PM
    The 5% only lasts for a year - after that it is 1%.


    Yes - you can send 1000 from a non NW account to NW and back again in seconds by faster payment.

    As for a credit check, I'd be surprised if they didn't.
    • Audaxer
    • By Audaxer 14th Jun 19, 4:12 PM
    • 1,883 Posts
    • 1,181 Thanks
    Audaxer
    • #4
    • 14th Jun 19, 4:12 PM
    • #4
    • 14th Jun 19, 4:12 PM
    Hello
    So if I initially put in 2500, then if I sent 1000/ month into the account and then sent it back out (say 990 out/month), would I still qualify for the interest?
    Originally posted by rebeccakate
    Yes, but why 990 as you can move the whole 1,000 back out the day after, or even on the same day.
    • Madison
    • By Madison 15th Jun 19, 2:16 PM
    • 155 Posts
    • 75 Thanks
    Madison
    • #5
    • 15th Jun 19, 2:16 PM
    • #5
    • 15th Jun 19, 2:16 PM
    I kept this going beyond the 12 month higher interest rate due to opening it when it still came with free travel insurance. Apparently if you miss a month of paying in a grand, you lose the travel insurance so I pay 1000 in on the first of the month and transfer 500 to each of my TSB accounts and then from those back to my main account.
    • YorkshireBoy
    • By YorkshireBoy 15th Jun 19, 2:21 PM
    • 30,977 Posts
    • 18,989 Thanks
    YorkshireBoy
    • #6
    • 15th Jun 19, 2:21 PM
    • #6
    • 15th Jun 19, 2:21 PM
    I kept this going beyond the 12 month higher interest rate due to opening it when it still came with free travel insurance. Apparently if you miss a month of paying in a grand, you lose the travel insurance so I pay 1000 in on the first of the month and transfer 500 to each of my TSB accounts and then from those back to my main account.
    Originally posted by Madison
    Did the FlexDirect account ever come with free travel insurance?
    • badger09
    • By badger09 15th Jun 19, 3:10 PM
    • 7,432 Posts
    • 6,958 Thanks
    badger09
    • #7
    • 15th Jun 19, 3:10 PM
    • #7
    • 15th Jun 19, 3:10 PM
    Did the FlexDirect account ever come with free travel insurance?
    Originally posted by YorkshireBoy
    Must admit, I thought that was the (old) Flex Account. Now, for new customers, it only comes with the FlexPlus Account.
    • Madison
    • By Madison 15th Jun 19, 4:40 PM
    • 155 Posts
    • 75 Thanks
    Madison
    • #8
    • 15th Jun 19, 4:40 PM
    • #8
    • 15th Jun 19, 4:40 PM
    Maybe it's an old account but it paid 5 percent interest for the first year and I have free travel insurance with it, or at least I did and haven't received anything to tell me otherwise.
    • YorkshireBoy
    • By YorkshireBoy 15th Jun 19, 5:34 PM
    • 30,977 Posts
    • 18,989 Thanks
    YorkshireBoy
    • #9
    • 15th Jun 19, 5:34 PM
    • #9
    • 15th Jun 19, 5:34 PM
    Maybe it's an old account but it paid 5 percent interest for the first year and I have free travel insurance with it, or at least I did and haven't received anything to tell me otherwise.
    Originally posted by Madison
    I'd double check if I was you, and certainly before travelling abroad and relying on it.
    • Terry Towelling
    • By Terry Towelling 15th Jun 19, 8:55 PM
    • 1,992 Posts
    • 1,683 Thanks
    Terry Towelling
    Maybe it's an old account but it paid 5 percent interest for the first year and I have free travel insurance with it, or at least I did and haven't received anything to tell me otherwise.
    Originally posted by Madison
    If it did ever come with travel insurance, you must have received a travel insurance certificate and have that in a safe place. Don't forget, (this is to anyone with travel insurance on a packaged bank account) you still need to declare all of your pre-existing conditions to the insurer or you may find yourself with no medical cover when you most need it. Even raised cholesterol in a blood test for my other half was considered a 'declarable' pre-existing condition in a policy we had many moons ago.
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