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  • FIRST POST
    • Munchkin08
    • By Munchkin08 15th Jan 20, 8:54 PM
    • 10Posts
    • 4Thanks
    Munchkin08
    Want to move everything - best accounts?
    • #1
    • 15th Jan 20, 8:54 PM
    Want to move everything - best accounts? 15th Jan 20 at 8:54 PM
    Hello!

    We have been with Nationwide for over 15 years and have had enough of them!
    Currently have Flex Plus accounts and select credit cards with them.

    We have literally no idea what the best accounts are?
    We will be moving a current account with very healthy salaries going in, savings, credit cards

    Any recommendations would be great - thank you!
Page 1
    • Neil Jones
    • By Neil Jones 15th Jan 20, 9:21 PM
    • 3,296 Posts
    • 2,415 Thanks
    Neil Jones
    • #2
    • 15th Jan 20, 9:21 PM
    • #2
    • 15th Jan 20, 9:21 PM
    https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/
    • Katiehound
    • By Katiehound 15th Jan 20, 9:55 PM
    • 5,177 Posts
    • 40,216 Thanks
    Katiehound
    • #3
    • 15th Jan 20, 9:55 PM
    • #3
    • 15th Jan 20, 9:55 PM
    Check that your select credit cards don't need a 'main bank account with Nationwide' to receive any perks. Mine certainly does

    Check if you want to get a switching bonus- you might want that little cash extra!
    Being polite and pleasant doesn't cost anything!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks


    • Ben8282
    • By Ben8282 15th Jan 20, 10:06 PM
    • 4,763 Posts
    • 2,635 Thanks
    Ben8282
    • #4
    • 15th Jan 20, 10:06 PM
    • #4
    • 15th Jan 20, 10:06 PM
    Why exactly do you want to move everything especially if you have no idea what the best accounts are.
    The grass is not always greener …..
    • MovingForwards
    • By MovingForwards 15th Jan 20, 10:33 PM
    • 3,040 Posts
    • 3,642 Thanks
    MovingForwards
    • #5
    • 15th Jan 20, 10:33 PM
    • #5
    • 15th Jan 20, 10:33 PM
    Why exactly do you want to move everything especially if you have no idea what the best accounts are.
    The grass is not always greener ..
    Originally posted by Ben8282
    https://forums.moneysavingexpert.com/showthread.php?t=6091782 is OPs reason
    • blue.peter
    • By blue.peter 16th Jan 20, 8:34 AM
    • 107 Posts
    • 70 Thanks
    blue.peter
    • #6
    • 16th Jan 20, 8:34 AM
    • #6
    • 16th Jan 20, 8:34 AM
    We have literally no idea what the best accounts are?
    We will be moving a current account with very healthy salaries going in, savings, credit cards

    Any recommendations would be great - thank you!
    Originally posted by Munchkin08
    As someone has already said, the grass is not always greener on the other side of the fence.

    The service offered by, as far as I can tell, all of the banks has deteriorated over the last ten years or so (i.e., after the banking crisis) as they cut costs to the bone. RBS is, in my opinion, particularly poor. I switched the them lat summer (having been sucked in by a switching offer), and almost immediately regretted it. I'll be switching away from them next summer, as soon as they've paid me the promised incentive for staying a year.

    Last week, I opened a second current account with, ironically, Nationwide (a FlexDirect). They seem much better than RBS so far.

    Having said that, your first step really needs to be to think about what you want from your new account, and see which bank offers the closest match. Your existing FlexPlus is a packaged account. So, do you want another packaged account? If so, what products do you want packaged with it? Or do you, perhaps, want some sort of cashback offer? Or current account interest? Or an account with no monthly fee?
    Last edited by blue.peter; 16-01-2020 at 8:38 AM.
    • RG2015
    • By RG2015 16th Jan 20, 9:03 AM
    • 1,780 Posts
    • 1,146 Thanks
    RG2015
    • #7
    • 16th Jan 20, 9:03 AM
    • #7
    • 16th Jan 20, 9:03 AM
    I have current account, savings accounts, credit cards and Isas with several banks and the best by far is NatWest.

    Howls of derision will coming flooding in. Am I mad, do I work for NatWest? (I don’t and never have).

    And that is the point. It is subjective. There is no single objective measure. I have several accounts with several banks, each one chosen for one or two areas where they are good. This includes Nationwide which has some good attributes.

    In my opinion there is not a better bank than NatWest for everyday current account banking and credit card services.
    Last edited by RG2015; 16-01-2020 at 1:28 PM. Reason: Correcting typo
    • blue.peter
    • By blue.peter 16th Jan 20, 9:13 AM
    • 107 Posts
    • 70 Thanks
    blue.peter
    • #8
    • 16th Jan 20, 9:13 AM
    • #8
    • 16th Jan 20, 9:13 AM
    And that is the point. It is subjective. There is no single objective measure.
    Originally posted by RG2015
    Absolutely. As I said in another thread:
    Different people look for different things in their bank and different people will have different experiences of the same bank. Even large surveys don't give terribly meaningful results for these reasons.
    Originally posted by blue.peter
    • Nic246
    • By Nic246 16th Jan 20, 11:02 AM
    • 20 Posts
    • 5 Thanks
    Nic246
    • #9
    • 16th Jan 20, 11:02 AM
    • #9
    • 16th Jan 20, 11:02 AM
    Use the page on MSE that compares the best bank accounts (sorry I can't post the link as i'm a new user!)

    I've just moved from HSBC as I was continuously experiencing issues with them. I moved to Barclays, who in my opinion have excellent customer service, and i've had no issues so far.

    Also if you want to earn a bit of cash, look at the banks that offer the switching service for money.
    • etienneg
    • By etienneg 16th Jan 20, 3:18 PM
    • 203 Posts
    • 177 Thanks
    etienneg
    Firstly, you don't say why you are fed up with Nationwide. I've had accounts there for over 30 years. I'm certainly less happy with them now (e.g. excessive CEO salary) than I was back then (good interest on whole balance in current account, best buy savings accounts, etc.), BUT when I look objectively I don't find significantly better alternatives. Of course, it depends on exactly what you want, but you will probably find you need different accounts with different institutions.

    When considering switching bank accounts, do look at what you will lose as well as what you will gain. Often there are advantages with existing accounts that are no longer available for those opening such accounts now, so you can't rely on rolling back the clock if you change your mind.

    For example, depending on when you opened the Select credit card, you may still be getting 0.25% cashback on UK purchases and fee-free overseas purchases. There are other ways of obtaining similar (or better) benefits, but not necessarily on a single card or from a single institution. So you then have to weigh up the pros and cons - simplicity versus complexity. The Flexplus is still the best value packaged account available IF you use sufficient of the insurances - in my case, travel for two and European-wide car breakdown for just one fee (joint account) - as well as fee-free ATM withdrawals abroad.

    I will add that I'm by no means glued to NW. I have current accounts, savings accounts and credit cards elsewhere as well. I just look for those with benefits that suit my circumstances. There is no one answer that's best for all, and SOME NW accounts (especially existing ones you might have) are just as good as, or better than, others.
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