High interest but headache - read and be warned (nationwide.co.uk)

Member Name: jonyee

Product:	nationwide.co.uk
Date:	04/07/00 (258 review reads)
Rating:

Advantages: Highest interest around for £1

Disadvantages: Very difficult to set up

The Nationwide are currently paying out 7% on their high interest e-savings account, which pays at that rate from just £1. As a long term Internet account Egg customer I was interested to try out this new higher paying account. They do say that Internet Bank loyalty is low, and that's probably true. Tempted to sign up a couple of weeks ago I did.

Please be warned, this service is not easy to use. It is based on two accounts, a Flexaccount which can be used in normal Nationwide branches, then your e-savings account. You have to transfer money between the two and all payments in and out must go through the Flexaccount first.

That's the easy part! The difficult part is signing up and logging in. I have yet to log in, as I have been assigned so many different numbers, I'm too confused. The help line were of little use as well. First of all I have a Flex account number, then an e-savings number, then a card number, registration number, reference number, four pieces of 'memorable data', customer number and pass code! Get my point? I'm just too confused, I'm asked for my customer number to log in, something which I am sure I haven't been given so after getting advice from the phone help line I was told to reregister which means that I would have to remember a more new numbers.

The web site is not particularly well designed and not easy to understand. Egg customers like me would be used to a simple account number and password and you don't even need to know your account number to log in. This system in comparison seem to want to confuse you. I know I certainly am and I am used to online banking.

I'd love to tell you how the actual banking works but I haven't got that far yet! I still can't log in. I'll let you know how it goes.

If you do want the attractive 7% Gross interest then do try www.nationwide.co.uk but please be warned, it is no easy task. Make sure yo
u have a good memory as well and write down the customer numbers, etc they give you otherwise you may find yourself in my position having to go through it all again. If you already have an Internet Egg account, I would seriously consider whether the move would be worth the effort

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