The FlexDirect account could be right for you if you're after an account that pays you interest when you have money in your account and you prefer to do your banking online or over the phone. It also has a really simple set of overdraft fees. To benefit from in-credit interest, you'll need to pay in a minimum of £1,000 per calendar month (excluding transfers from any Nationwide account held by you or anyone else).
FlexDirect is based on a simple self-service concept – you'll be automatically registered for our online and telephone banking services to manage your account. If you ever have a transaction that can't be completed via our self-service options then our branches and UK call centres will be here for you.
Here's what you get with FlexDirect In-credit interest 5% AER (4.89% gross p.a.) in-credit interest on balances up to £2,500 (fixed for the first 12 months). Find out more - In-credit interest Fee free overdraft for 12 months No fees on arranged overdrafts for the first 12 months (Overdrafts are only available to those aged 18 or over and are subject to approval). Find out more - Fee free overdraft for 12 months No monthly account fee That's right, no monthly fee just for keeping your account with us! Find out more - No monthly account fee
Also can have linked saver for up to £250 at 5% too! Not a bad deal tbh and for all those fed up with the TSB trying to rip off existing customers for new customers only!
All comments (35)
clonereeco
10 Aug 17#1
Been with Nationwide for a couple of years now after changing from RBS and can't reccomended them enough, you can also be reccomended for a referral for £100 each (referrer & referee) if you switch your current account to them
fish323
10 Aug 17#2
Is this automatically on my account or do I have to apply?
Anon32 to fish323
10 Aug 17#4
Think you have to apply for that account specifically for it to work
kauyeung
10 Aug 17#3
It's automatically added for the 12 months of the account
simba2585
10 Aug 17#5
shame they only pay the 5% upto £2500 balance - is there a reduced interest on the remaining balance over this amount or is it 0?
Jetset1981 to simba2585
10 Aug 17#12
Zero on anything over £2500.
cricky12 to simba2585
10 Aug 17#20
Close after the 1st year or switch to another account like Halifax for switch reward, then open another for 12 more months 5% interest
PopcornSanta
10 Aug 17#6
Cold
Smcgie
10 Aug 17#7
I have both of these accounts (the %Savings and the 5% Current) one major downside is their IT system.
If you have a fingerprint sensor on your phone - you're in luck its easy to login.
If you need to access from the web its so archaic, stupid customer number that's 9 digits, memorable word and the another stupid pin number.
Then your card reader to needs to be used to view statements, transfer money, SO, DD Etc, Total pain in the testicles all the time. Stay away from using it as a main current account until they realise IT infrastructure is abysmal. Fine for dumping in 2500k
~S
Somnus to Smcgie
10 Aug 17#13
Agreed. I really try to avoid logging in if I can. I set up the standing orders to fund it all and then don't touch it for 12 months.
TomBoyNI to Smcgie
11 Aug 17#27
Good on you! But there is definitely better places to 'dump' £2.5 million quid in!
However I agree with you on the IT side. The app is fine. The website is grim.
pidgeofcdf
10 Aug 17#8
I switched from tsb to this last month, very smooth transfer and had the £100 switch money already. Agree the it isn't as good as others but I don't use it as my main account.
Anon32 to pidgeofcdf
10 Aug 17#10
I went to hsbc last month switch to complete on monday to get the £150 plus £50 if still there after a year. Even though a bit long winded its been good so far! Even though app is more secure than tsb i will have to use a calculator thingy because the digital key can only be worked via a smart phone and not an ipad
GrantD
10 Aug 17#9
Is this for new customers only? I closed my nationwide account a few months ago.
Opening post
FlexDirect is based on a simple self-service concept – you'll be automatically registered for our online and telephone banking services to manage your account. If you ever have a transaction that can't be completed via our self-service options then our branches and UK call centres will be here for you.
Here's what you get with FlexDirect
In-credit interest
5% AER (4.89% gross p.a.) in-credit interest on balances up to £2,500 (fixed for the first 12 months).
Find out more - In-credit interest
Fee free overdraft for 12 months
No fees on arranged overdrafts for the first 12 months (Overdrafts are only available to those aged 18 or over and are subject to approval).
Find out more - Fee free overdraft for 12 months
No monthly account fee
That's right, no monthly fee just for keeping your account with us!
Find out more - No monthly account fee
Also can have linked saver for up to £250 at 5% too! Not a bad deal tbh and for all those fed up with the TSB trying to rip off existing customers for new customers only!
All comments (35)
If you have a fingerprint sensor on your phone - you're in luck its easy to login.
If you need to access from the web its so archaic, stupid customer number that's 9 digits, memorable word and the another stupid pin number.
Then your card reader to needs to be used to view statements, transfer money, SO, DD Etc, Total pain in the testicles all the time. Stay away from using it as a main current account until they realise IT infrastructure is abysmal. Fine for dumping in 2500k
~S
However I agree with you on the IT side. The app is fine. The website is grim.