Nationwide BS Only Offering 75.00 for Current Account Switch

Milarky

bristolleedsfan wrote: »

Can you offer any input to the point I made in the last part of post no 4 pse. ( If i undertake all Abbey 100.00 switching in requirements and continue to fund Abbey Account 1000.00 a month and keep income going direct to Abbey Account, after Standing orders/direct debits have moved from A+L to Abbey can I then switch them to my Nationwide account without risking 100.00 Abbey payment being as Abbey dont state that the direct debits/standing orders have to stay with them for any period of time. :think:

I had exactly the same thought too, being into the Abbey £100 switching offer currently. I can't see that switching away from Abbey at any time after switching to them nullifies their offer (which also relies on a separate monthly funding for a period) but YB seems to have studied that offer more closely than anyone else.

On the other part of the offer - leaving £1000 on deposit until 31 March 2009 - as I already make extensive use of my e-savings account (money in-money out) then it might make sense to open a separate e savings account and simply leave £1000 untouched in that?

bristolleedsfan

Milarky wrote: »

IOn the other part of the offer - leaving £1000 on deposit until 31 March 2009 - as I already make extensive use of my e-savings account (money in-money out) then it might make sense to open a separate e savings account and simply leave £1000 untouched in that?

Would appear prudent to stick 1000.00 of " new money" into Nationwide E-Saver plus ensuring of course that this requirement is adherred to

"3 free instant access withdrawals per year (more than this will result in a lower rate of interest) "

Pity Nationwide cant compete with Abbeys Instant Access Saver 2 :think:

Kavanne

bristolleedsfan wrote: »

Im :shocked: that you dont have a debit card with your Flexi-Account YB, I also assumed most people would do as well.

I don't have one either. Even though I also have a nationwide credit card. Go figure.

YorkshireBoy

bristolleedsfan wrote: »

Can you offer any input to the point I made in the last part of post no 4 pse.

Not really, I haven't gone for the Abbey offer.

But it shouldn't be even necessary if you already have a Nationwide FlexAccount? The way I read it is there are two routes to the £75...

EITHER

switch an account from elsewhere AND buy another product

OR

simply move £1,000 of new money into an eSavings account via your existing FlexAccount.


Anyway, I've decided that I'm not going for it for two reasons...

1. It's a complete lottery as to whether you'll be one of the first 4,000, and

2. My FlexAccount doesn't accept FP's, and I can't get to branch with cash until Saturday.

And the 30th June 2009 is a long way away!

I do have the names and direct dial telephone numbers for a couple of people in Nationwide's marketing department (and one of them's the Product Manager - Banking). If anyone wants them drop me a PM.

kanchhelskis

its ruled me out cause i have got a cheque book damm never seen that last nite lol.

YorkshireBoy

kanchhelskis wrote: »

its ruled me out cause i have got a cheque book damm never seen that last nite lol.

Ignore what I wrote last night (in post #7). I was told today that as long as your cheque guarantee card is a combined Visa Debit card you'll be OK.

kanchhelskis

ok mate got standing order set up to come from my abbey bank on the 2 january, but may have to do it later cause apprantley, it takes abbey 7 days to set up a standing order lol, u r a wealth of knowledge!

ShelfStacker_3

bristolleedsfan wrote: »

Whilst a 500.00 monthly funding requirement has now been put in place, for a short time HSBC were offering 50.00 Cashback via Cashback Sites for having a Current account application accepted with no requirement to either switch anything or fund the account.

And I still think it's bloody ridiculous.

bristolleedsfan

YorkshireBoy wrote: »

But it shouldn't be even necessary if you already have a Nationwide FlexAccount? The way I read it is there are two routes to the £75...

OR

simply move £1,000 of new money into an eSavings account via your existing FlexAccount.


It's a complete lottery as to whether you'll be one of the first 4,000.

Existing Flex Account Customers still need to switch their Direct Debits and Standing Orders to their Flex Account from an account outside of Nationwide.

Just by chance :cool: I was in a Abbey Branch today, answer I got was transferring direct debits/standing orders back out of Abbey wouldnt affect the 100.00 payment as long as the monthly funding requirements continue to be met.

Surely Nationwide would take down the promotional literature when 4000 eligible applicants had been reached, :think: my local branch didnt even have any switching forms today. :rotfl:

YorkshireBoy

bristolleedsfan wrote: »

Existing Flex Account Customers still need to switch their Direct Debits and Standing Orders to their Flex Account from an account outside of Nationwide.

If that is the case then the AND statement should say "AND EITHER"...and the "OR pay a minimum of £1,000..." statement should be line spaced and indented as the preceding text is.

Surely Nationwide would take down the promotional literature when 4000 eligible applicants had been reached, :think:

A point I put to the marketing exec today when I told them it looked like a competition to me and, as such, they should advertise it so.

Anywhere else and they'd have to suffix it "no purchase necessary"!

They're going to be swamped with complaints between next March and the end of June.