interest on balances up to 1,500 youll need to pay in 1,000 a month, not counting transfers from other Nationwide accounts or Visa credits. Nationwide FlexDirect reviews come from people like you! Nationwide FlexDirect Interest. Nationwide FlexDirect: Savers can get 5% interest rate before May 2020 This evening, he warned savers who may be interested in one particular saving account, that the deadline to apply for it Nationwide is cutting its market-leading 5% AER interest rate on its FlexDirect current account for the first time since its launch in 2012. We've long been fans of Nationwides FlexDirect current account.. That's because it offers an interest rate of 5% on balances in the account, and then another 5% on your savings in its linked Flex Regular Online Saver account. Its free to open and use, though you do have to pay in at least 1,000 a month to get the interest. With that in mind, questions 1 and 2 make sense, but with question 3 they seem to think they can get a years worth of interest in a month. Nationwide explains how former FlexDirect customers can access 2% interest offer Fintech firm Revolut takes aim at Stripe with payment software for businesses How to report a missing UPS package and file a claim online to earn a refund How to change the time and date settings on your Windows 10 computer, or set them to update automatically Nationwide offers 2% interest rate through account which gives savers more - check now NATIONWIDE customers could secure an attractive current account amid plummeting interest rates across many current options. To earn 2% AER (1.98% gross p.a.) By Rebekah Evans. Theres a network of branches you can access across the UK, and theres also a phone support line. 0. The building society says the rate will be reduced from 5% AER to 2% AER from 1 May 2020 as a direct result of ultra-low interest rates. 28 April 2020 at 5:56AM. General_Grant Forumite. The Nationwide FlexDirect account is a free, online offering from the building society. Nationwide says that anyone who starts an application to open its FlexDirect account before 1 May 2020 will have the current 5% AER rate applied for the first 12 months. If youve had a FlexDirect before, you wont receive this offer again, unless your new FlexDirect account is in a different name or names. After the first year, the rate will drop to 0.25% AER which will only be paid on the first 1,500 in the account. Nationwide Building Society, the second-most-switched-to bank at the moment, is offering a FlexDirect account which could be right for you. Nationwide is scrapping its 5% linked regular saver account, but if you head to a branch ASAP you could still grab one. One simple rate of interest no matter how much you borrow Whether you have a FlexPlus, FlexDirect or FlexAccount, the interest rate is 39.9% per year compounded (variable).FlexDirect also offers 12 months interest-free from the date you open your account. Sign In other account into NW and one SO from NW into the other account for 1000. The FlexDirect account is a current account from the Nationwide Building Society. With a simple set of overdraft fees and somewhere guaranteed for your savings, Nationwide FlexDirect pays 5% AER fixed for a year on 2,500 , which would give you a maximum 122.25 interest. You'll always know where you stand with a Nationwide arranged overdraft. The Flexdirect account only pays 5% interest on up to 2500, that's what OP is taking about. And remember, if you are a Nationwide customer, you can write a short review here to help other potential customers. 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