Switch current accounts from a non-Nationwide provider for £100.
cashback conditions:
Go via links in moneysupermarket or moneysaving expert (unable to post as removed due to moderator saying the link was for an individual trader? and then when I tried again I got message saying moneysupermarket had been banned)?
only applicable to the Flex direct current account.
Current account conditions:
Pay in £1k a month;
5% interest on £2,500 for the first 12 months, 1% thereafter;
No interest on any amounts over £2,500;
No authorised overdraft fees for the first 12 months, 50p a day thereafter = £15.50 a month if overdrawn for 31 days; and
no monthly fee.
£35 quidco not available in conjunction with offer
- ikskwizituk
Top comments
m1chaels
14 Sep 159#3
Beats Santander who plan to charge 60 quid a year up from 24...thieving gits.
DominicPTS
15 Sep 158#17
Yep like we all have £20k sitting around in savings....
karlie88
15 Sep 153#31
Whilst Santander's fee increase is a kick in the balls, it's still a decent rate - especially considering the BoE base rate being at 0.5% for many years. You're effectively still looking at over 2.5% and that's not taking into account any cashback from Direct Debit payments.
You can earn far more interest if you're pro-active (and with no risk to your capital) via the following accounts:
1. First Direct Regular Saver - 6% on average balance of £1800.
2. HSBC Regular Saver - 6% on average balance of £1500.
3. M&S Bank Regular Saver - 6% on average balance of £1500.
4.TSB Classic Plus - 5% on up to £2000.
5. TSB Monthly Saver - 5% on average balance of £1500.
6. Nationwide FlexDirect - 5% on up to £2500.
7. Lloyds Club - 4% on up to £5000.
8. Lloyds Club Monthly Saver - 4% on average balance of £2400.
9. Tesco Bank - 3% on up to £3000.
10. Bank of Scotland Vantage - 3% on up to £5000.
Santander would then be the next best option. Of course, if you want hassle-free then it's the easiest option, but not necessarily the most lucrative.
There are also several local building societies that offer regular savers with interest rates between 3-4% and their service can be excellent.
sam3110
15 Sep 153#30
Does anybody know if this is nationwide?
All comments (66)
cruisecars
14 Sep 152#1
this has been on for a long time..
dealsschmeal to cruisecars
14 Sep 152#2
Yes quite a few days, according to the terms of the offer it started on 11 September 2015.
m1chaels
14 Sep 159#3
Beats Santander who plan to charge 60 quid a year up from 24...thieving gits.
gluke21 to m1chaels
15 Sep 151#16
You do not seem a happy bunny.Even after
the rise in the monthly fee from £2 to £5 per
month if you have £20,000 in it then you can
get around £40 per month interest. This is
way better than any other current account
out there.
TheMev to m1chaels
15 Sep 15#18
Just starting to look into alternatives, if they think they can make changes like that and people arn't going to move... well more fool them.
chezvegas85 to m1chaels
15 Sep 15#40
glad ya said this as was gonna open a joint account for bills for santander
pennyfarthing88
14 Sep 153#4
I've been with nationwide for donkeys years how much do you get for staying? :confused:
dealsschmeal to pennyfarthing88
14 Sep 153#5
If you haven't received a reward from Nationwide for opening a current account, open another current account with Nationwide. Switch that account to somewhere like M&S which has no requirements for monthly pay ins, only that you set up direct debits, then after receiving the M&S reward - currently £110 in M&S vouchers via moneysaving expert - then switch back to the nationwide.
pennyfarthing88
14 Sep 151#6
Well I'm voting this hot based on the good sound advice provided by the OP!
:smiley:
DominicPTS
15 Sep 152#7
I opened an account online with M&S late July. Had acceptance email then had welcome pack and letter to say all set up and debit card would be with me in a few days. Couldn't switch until I had the card (according to their website) so waited. Busy life... Phoned early this month to ask where card was. After much head scratching they told me they hadn't received some forms back from me so account never set up. I ask how I have letter in front of me saying it's all set up and ready to go then? Couldn't answer that. Couldn't sort as over a month had passed so "sorry sir but you'll need to reapply". Up yours M&S you bungling incompetents.
Blackgang
15 Sep 152#8
I've been with them donkeys years, they are crap looking for another bank, a bank that does not **** their customers about, wish me luck. The bankers are still at it!
dealsschmeal to Blackgang
15 Sep 151#11
The Nationwide overdraft fees are quite high after the 12 month "honeymoon", and I understand that despite having an account which gives favourable overseas spending rates, they still stop people's cards when spending aboard, on the suspicious transaction basis, even after being told in advance that the account holder is going away.
cruisecars to Blackgang
15 Sep 15#22
Really they are better than most banks !
dealsschmeal
15 Sep 15#9
Oh dear, not an ideal picture of customer service. I and other members of my family timed joining M&S after they bumped the cashback up to £125 - they tend to do this every 6 months - we didn't experience the mess M&S clearly made of your application. As M&S has very few street branches and the points incentives are minimal we are all switching again, telephone and online banking isn't for everyone.
manicmidlander
15 Sep 153#10
better deal using the refer a friend offer and Topcashback. You get £100 and potentially £78 from Topcashback and the friend who refers you gets £100.
dealsschmeal to manicmidlander
15 Sep 15#12
The terms of the refer a friend specify at point 11 that "This offer may not be used in conjunction with any of our other current account cash reward offers".
Having said that I've received cashback before despite the disclaimer, not with Nationwide though.
The risk is that if Nationwide choose to honour the Top Cashback payout instead of the refer a friend payouts, then there is a small difference of £20 odd pounds the applicant might lose.
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Opening post
cashback conditions:
Go via links in moneysupermarket or moneysaving expert (unable to post as removed due to moderator saying the link was for an individual trader? and then when I tried again I got message saying moneysupermarket had been banned)?
only applicable to the Flex direct current account.
Current account conditions:
Pay in £1k a month;
5% interest on £2,500 for the first 12 months, 1% thereafter;
No interest on any amounts over £2,500;
No authorised overdraft fees for the first 12 months, 50p a day thereafter = £15.50 a month if overdrawn for 31 days; and
no monthly fee.
£35 quidco too, http://www.quidco.com/nationwide-flexdirect-current-account/?st=nationwide&tr=8963&fn=home&fr=related
- Gentatsu
£35 quidco not available in conjunction with offer
- ikskwizituk
Top comments
You can earn far more interest if you're pro-active (and with no risk to your capital) via the following accounts:
1. First Direct Regular Saver - 6% on average balance of £1800.
2. HSBC Regular Saver - 6% on average balance of £1500.
3. M&S Bank Regular Saver - 6% on average balance of £1500.
4.TSB Classic Plus - 5% on up to £2000.
5. TSB Monthly Saver - 5% on average balance of £1500.
6. Nationwide FlexDirect - 5% on up to £2500.
7. Lloyds Club - 4% on up to £5000.
8. Lloyds Club Monthly Saver - 4% on average balance of £2400.
9. Tesco Bank - 3% on up to £3000.
10. Bank of Scotland Vantage - 3% on up to £5000.
Santander would then be the next best option. Of course, if you want hassle-free then it's the easiest option, but not necessarily the most lucrative.
There are also several local building societies that offer regular savers with interest rates between 3-4% and their service can be excellent.
All comments (66)
the rise in the monthly fee from £2 to £5 per
month if you have £20,000 in it then you can
get around £40 per month interest. This is
way better than any other current account
out there.
:smiley:
http://www.nationwide.co.uk/products/current-accounts/service/raf-conditions
Having said that I've received cashback before despite the disclaimer, not with Nationwide though.
The risk is that if Nationwide choose to honour the Top Cashback payout instead of the refer a friend payouts, then there is a small difference of £20 odd pounds the applicant might lose.