Spending in France

[Derek Uzzell]

Mel B - 2010-03-08 6:26 PM

 

1. Does the Nationwide Flex Account have to be your MAIN bank current account, and have your wages, direct debits and standing orders paid from it?

 

2. Or can you have a current account elsewhere, and just pay in a nominal amount to the Nationwide Flex Account to keep it 'active', just popping money into it as required?

 

I think the answer to 1 is PROBABLY "No". It certainly wasn't the case in the past as our 'main' current-account is not with Nationwide. (Suggest you try opening a Flex Account and see what happens.)

 

2. That's exactly what we do. A few quid are left in our Nationwide Flex Account to ensure it remains live and, before we go abroad, I deposit into the Nationwide account a good dollop of cash from which to make ATM withdrawals.

 

This method does require sone forward planning and includes the risk of going overdrawn if you've underestimated how much cash you'll need abroad and make too many trips to the ATM.

 

As far as I'm aware, if you've put, say, £1000 in your Flex Account, then withdraw the equivalent of 6 x £200 in euros while abroad, you'll get the money but you'll also incur some hefty 'penalty charges' as a consequence.

[cronkle]

Mel B - 2010-03-08 6:26 PM

 

 

 

 

Does the Nationwide Flex Account have to be your MAIN bank current account, and have your wages, direct debits and standing orders paid from it? Or can you have a current account elsewhere, and just pay in a nominal amount to the Nationwide Flex Account to keep it 'active', just popping money into it as required?

 

 

No, it does not have to be a main account with salaries etc paid in. Ours has a nominal amount in it throughout the year and we put our holiday money into it just before we go abroad.

 

We only use the debit card for ATM transactions and use the Nationwide credit card for purchases.

[GypsyTom]

Thanks to what I've learned on this forum, I've just applied for, and been granted, a Nationwide Flex Account. However, I intend to transfer everything to it and use it as my main bank account. 

Using it as a convenience just for when you go on holiday is all very well but, when Nationwide started this account I'm sure that they did  not intend it to be used in this way.

There's a chance that, if too many people take advantage of it, that Nationwide will ultimately pull the plug and only allow its generous foreign exchange facility to be used by bona fide current account holders. And who can blame them!