OZforex and Nationwide flexaccount - anyone had any problems.
 

Just wanting a wee bit of advice before I close all our bank accounts except the Nationwide Flex account, has anyone had any problems transferring their money to Oz with this bank (as have seen probs with Barcleys with limiting transfer amounts). Asked the girl in the branch today and she said there would be no problems, but really need to ask the real people in the know:p .

Just starting to get the finances sorted as we have a closing date for the house sale for friday :eek: .

Thank you in advance.
Clairex

Re: OZforex and Nationwide flexaccount - anyone had any problems.
 

We were told they have an online limit of £10,000 per transaction - but you can do as many of them as you like (unlike Barclays).

Re: OZforex and Nationwide flexaccount - anyone had any problems.
 

Grand, that's all I need to know :lol:, so you didnt have any problems with them?
Clairex

Re: OZforex and Nationwide flexaccount - anyone had any problems.
 

You might like to check out the timescale, practicalities and fees for larger transfers too.We have a Virgin One account and have found it expensive to transfer funds if you are buying forex on a spot rate. This is because the standard transfer takes 7 days to complete and Ozforex require the funds pretty quickly. This forces you into using Electronic Money Transfer, for which they charge 23-25ukp.

Mark

Re: OZforex and Nationwide flexaccount - anyone had any problems.
 

I've used them to pay for a forward contract - and have sent funds to their Barclays account 3 days before they were due. No problems.

I suppose it would depend on how much you're transferring. If it's say proceeds of house sale - £30 or so isn't that much really.

Re: OZforex and Nationwide flexaccount - anyone had any problems.
 

I used Nationwide flexaccount online to transfer my money through to Ozforex and then onto my Westpac account - no problems whatsoever. Did a few tranches too. There is a limit on the amount you can transfer from the Nationwide each time but no limit on the number of times so I just input a few everytime and Ozforex tied them up without any problems

Re: OZforex and Nationwide flexaccount - anyone had any problems.
 

Thanks for that, I can now scratch all my other accounts.
Clairex

Re: OZforex and Nationwide flexaccount - anyone had any problems.
 

Agreed. But with larger amounts the bank will only authorise transfers in 100k amounts so you end up paying 50-60ukp for the pleasure of transferring your own money. There has been a lot of talk about illegal fees UK banks charge their customers. I wouldn't be surprised if the EFT soon joins them.

Mark