For those that have not already received the email, Nationwide breakdown cover is changing from 1st March 2022 from being provided by Britannia Rescue, to the AA.
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is that a good thing or a bad thing?
To be fair I can’t rubbish the AA. I’ve only ever suffered two breakdowns in my driving career in my personal vehicle and as it happened, the same vehicle, both during warranty, both a manufacturer fault. The AA responded, recovered the vehicle to the dealership, job done.
It’s fair to say however, that the vast majority of breakdowns are entirely avoidable, i.e. car owners who absolutely fail at all costs to do even the most basic of maintenance, like inflate their tyres or check their oil/water or even notice when the car battery is failing.
My Wife has her Suzuki serviced at our local Suzuki dealership and AA Assist is complimentary for a whole year following a service. Either way, as from March, she’ll only have to call one number now whatever happens, it’ll be the AA either way.
For the price of the Nationwide Flexplus package, I still think the £13 a month is entirely reasonable for worldwide travel insurance for us both, breakdown cover for both of our vehicles if needed and of course the mobile phone insurance which Nationwide have also increased the item value from £1500 to a maximum of £2000 for a single phone. We’d struggle like hell to find anything similar via standalone polices for £156 a year. What’s more, we’ve actually chosen to pay for a packaged account, so they’ll be no clammoring for missold compo later down the line 
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It’s unbeatable - I’ve tried! The mobile insurance on its own is worth more than £13/month, considering it covers all phones in the household. That includes the latest, expensive iPhones and Pixels.
You know it, I know it, but they’ll always be someone who says they can find a better deal elswhere or they’ll argue the toss that overall, packaged bank accounts aren’t worth it for most banking customers. Of course that may well be correct for those that don’t travel frequently, or don’t have a knack of smashing up their £2k smartphones
Yes, it’s never worth it unless you would have those insurances anyway. If you don’t drive, for example, it would never add up - that’s obvious! But what is perhaps less obvious is that some people get sucked into packaged accounts because of the supposed “banking benefits”, which are not worth it and can often be had for free elsewhere. Those are the people who often don’t even use the insurances, so presumably don’t actually need the account.
The other thing is that the value is much less substantial if you are single or don’t have a joint account. For an individual, you probably still couldn’t get the same bundle of insurances for less - although the deal is not quite so great, so alternatives may appeal more.
I’m also not totally convinced that Nationwide is the world’s best packaged account for everyone, as it depends on what insurances you want. For some, Halifax Ultimate Reward (with £5 off the fee, provided you meet the account conditions), Virgin Money Club M or even Co-op Everyday Extra might be better.
MSE do a decent summary:
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Email received announcing increase in rates on two savings accounts wef 1 February 2022
We’re also increasing the rates on two accounts in our current range
These are still available to open, if you don’t already have one:
- Flex Regular Saver : this 12 month limited-access account was launched on 24 November 2021 for members with a Nationwide current account. The rate will increase from 2.00% AER/Gross a year (variable) to 2.50% AER/Gross a year (variable). If you make more than three withdrawals, the rate will go down to 0.35% AER/Gross a year (variable) for the rest of the term and this rate isn’t changing. This account will only be available for a limited time – so if this is something you’re interested in you can find out more on our website.
- Future Saver : this limited-access account was especially designed to help parents save for their children’s future. The rate will increase from 1.00% AER/Gross a year (variable) to 1.25% AER/Gross a year (variable) if you have a Nationwide current account. If you don’t have a current account, it will increase from 0.50% AER/Gross a year (variable) to 0.75% AER/Gross a year (variable). If you need to make more than one withdrawal, the interest rate reduces until the anniversary of account opening, when it will reset to the higher rate. This lower rate will be increasing from 0.05% AER/Gross a year (variable) to 0.25% AER/Gross a year (variable).
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Do we know whether they are likely to offer instant transaction notifications anytime soon?
We have heard nothing about it coming, so don’t hold your breath!
Just logged into my Nationwide FlexPlus account in app to see the now increasingly frequent warning of delays affecting payments.
Not sure what’s going on with Nationwide, but they need to get their crap in one sock on this because personally I don’t think it’s good enough.
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Auden or Tolstoy?
I can never remember 
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A quote from Wuthering Heights, I think. Mr Lockwood says to Heathcliff, “Better get your crap in one sock, Sir.”
I can’t remember the rest, but it goes on a bit after that.
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Ah, Wuthering Heights….
Good old Enid B hasn’t written a bad one yet 
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Today, Nationwide have launched their Start To Save 2 product, with an interest rate of 2.50% AER/gross a year (variable) for 24 months.
"This regular saving account is designed to get you into saving. Put away money regularly and we’ll enter you into our £250 prize draw.
Increase your balance by at least £25 (but by no more than £50) in each of the 6 months leading up to a prize draw to be in with a chance of winning."
Prize Draw dates
- Prize draws will take place on 21 February 2023, 22 August 2023 and 20 February 2024.
Click the link for further details, including terms and conditions.
You can hold this in conjunction with the original Start To Save Regular Saver, which itself will raise its rate on 1 July 2022, from 1.25% to 1.35% AER.
Information on the forthcoming interest rate changes to other accounts wef 1 July 2022, can be found here
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It’s a shame they aren’t offering a £100 max, as for issue 1.
Looks like the 5pc current account is back.
I still wouldn’t touch them with a bargepole after my last interactions with them…
It’s not that impressive an offer really. £75 maximum benefit once per lifetime. Meh.
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Shame they’re not offering it to existing members 
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From Nationwide website:
Important:
Have you had a FlexDirect account before?
If you’ve had a FlexDirect account before, you won’t receive the 12 month credit interest offer or the interest-free overdraft offer again. However, you will get the offer on a new joint account, as long as you have not shared a FlexDirect account with that person before.
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