www.iva.co.uk

Hi, I currently have a Nationwide FlexAccount which I set up pre IVA and I have been very happy with it. I was wondering if anybody has had any experience of upgrading from the flexaccount to the flexplus account whilst in an IVA? I don't wont to try it if it can rock the boat in any way if you know what I mean? My main interest in doing this is that it costs £10 a month but it provides worldwide travel and mobile phone insurance for all family members at the same address. As my wife and I are both getting new mobile phone upgrades next week I was thinking it may be an idea to get them insured and this appears to be a cheaper option. Also, I have no interest in the overdraft facility and wouldn't want it for obvious reasons. Any experiences or thoughts on this would be appreciated:-) Thanks in advance

Just looking through and noticed this hadn't been answered so will bump it up in the hope that someone else with experience of Nationwide will be able to answer.

I have a basic account with Nationwide...tried to upgrade on on line for this account bit was declined instantly...

im a tad surprised youve got a flexaccount in the first place! Thought you could only hold a basic account while in an iva. we started with a natwest silver but within weeks of iva being agreed we got instantly downgraded to a basic account. Nationwide is a creditor so could be wrong about what they approve. Maybe someone will be more helpful.

Grayson got the Flexaccount pre IVA. It will really comes down to Bank procedures. I upgraded online to a Natwest Select account from their basic current account. You could to with establishing whether a credit check is done. Natwest didn't for my upgrade.

Select account!!! thats what we opened pre iva!!! then got letter a couple of weeks after iva up and running it got down graded and they refused to upgrade because of the iva. Maybe after a while of good use we could upgrade again but to be honest its fine how it is!! All banks seem to make their own rules! lol!

You cant upgrade from a basic account to a flexplus account - you can only upgrade from a flexaccount /flexdirect account with Nationwide

Hi, and thanks for you input. Just thought o would leave an update for you all. I spoke with the bank who told me no credit check would be necessary as I would be keeping the same bank account number etc. I decided to try it online and my upgrade was accepted to include all the benefits such as mobile phone insurance, travel insurance, car breakdown cover etc. not bad for £10 a month. The only thing was it came up with a message on the acceptance page to say that due to my personal circumstances they were unable to offer me the interest free overdraft facility, which was fine as I did't want it. I am now waiting for the new card in the post, but for now, it appears to be good news:-)

It asks when applying for the flex plus if you are currently in an iva or bankrupt.

Paul

Hi, and thanks for you input. Just thought o would leave an update for you all. I spoke with the bank who told me no credit check would be necessary as I would be keeping the same bank account number etc. I decided to try it online and my upgrade was accepted to include all the benefits such as mobile phone insurance, travel insurance, car breakdown cover etc. not bad for £10 a month. The only thing was it came up with a message on the acceptance page to say that due to my personal circumstances they were unable to offer me the interest free overdraft facility, which was fine as I did't want it. I am now waiting for the new card in the post, but for now, it appears to be good news:-)

If I remember rightly it doesn't ask any questions when you upgrade from an existing account PD.

The Flexplus account is pretty good. We had it for a while but closed it because we didn't want the travel insurance (due to the problems hubby has had this year we needed something that covered more) and they wouldn't let us remove it and didn't want the problems that can be caused by having 2 lots of insurance.

I was looking at it but dont want knocked back so will wait until may when things drop off my credit file.
Looks a decent account and co-op seem to have dropped any accounts with benefits.

Paul

Nice to hear that some IVA customers are able to get a 'premium' current account, rather than just a basic one.

If you use them, that £10pcm covers a lot of benefits, and works out a lot cheaper than buying the equivalent insurances separately. It's one of the little perks that I miss from my pre-IVA lifestyle.

There is nothing in an IVA limiting you to a basic account, just that you should open an account with a non-creditor institution.

I'm currently paying £12.50 for a 'Secure Trust' basic account, and all I get for that is 3-7% cash-back on purchases from a number of high street stores (better than nothing though I suppose).

Think I will try to open a basic account with Nationwide, wait 6-Months or so, and try to upgrade myself.

Are you already with Nationwide PD? I was with them for most of my BR and I upgraded my account with them before the BR had dropped off my credit files.

UpToMyNeckInIt, I don't think you will be able to open a basic account with Nationwide as you are in an IVA as one of the questions is are you BR or in an IVA.

Not with them just now. I was going to upgrade my co-op account but they dont do one with decent benefits now (phone insurance for all the family and breakdown cover for both cars easily worth 10-15 a month).

May go online today and apply. Then again I may bottle it through fear of rejection!!

Paul