Ending N&P Reg Save Early

Are you referring to using the Current Account Switching Service to switch a current account from N&P to Nationwide?

If so, then the separate N&P regular saver would continue unaffected unless there is anything in the Ts & Cs that specifies that it's only available to those with an N&P current account.

SalarySlave wrote: »

Hmmmm it says I can only pay into the Reg Saver from the Gold current account. That means if I switched the current account I would no longer be able to pay into it, I also might have difficulty transferring the money to my nationwide too as their savers do not seem to allow external transfers.
Think I will just wait til maturity.

Good plan.

Any reason not to open the nationwide account now and switch your N&P current account as soon as the regular saver matures? You could even start the switching process towards the end of October, with a switch date of say 3rd or 4th November:cool:

Just to check - are you sure that N&P actually support the Current Account Switching Service? My impression is that they don't.

Norwich and Peterborough is a trading name of Yorkshire Building Society and, as mentioned above, they are not a member of the Current Account Switch Service, so you wouldn't get any bonus for moving your N & P current account to Nationwide.

wmb194 wrote: »

I think the data on the switching site are out of date.

Last week I initiated a switch from my N&P current account to Santander and whilst it hasn't yet completed I've received a letter today from N&P stating that it's received the request to switch from Santander, it's passed on the details of my "recurring credits" and will write to me again once the switch has been completed and my account closed.

They offer a switching service alright, but it's not the official CASS one which comes with the 7 day guarantee and promises that all payments to and from your old account will be redirected to your new account for 3 years. Rather, it's the old style switching service where they just ask your old bank for a list of payments and set them up on your new account. You can choose to switch some and not others, and it retains the option to keep your old account open if you prefer: "They'll also instruct your old bank to close your old account if you ask them to." This is sometimes called a partial switch, or a manual switch.

With the CASS service, closing the old account is obligatory.

http://www.nandp.co.uk/current-account/Our-Switching-Service/

If you're leaving N & P and going elsewhere, it will be the same process. Many banks will still use that process on request, but they don't promote it and they won't pay you a joining bonus if you use it. Only switching through the CASS scheme will guarantee you a joining bonus, where one is on offer.

Nationwide's recommend a friend offer specifies: "..your friend needs to open a FlexAccount, FlexDirect or a FlexPlus account AND complete a full account transfer using the Current Account Switch Service - This will close their old account."

http://www.nationwide.co.uk/products/current-accounts/our-current-accounts/recommend-a-friend-tab#tab:Recommendafriendandshareand163200