Nationwide £50 "No-Hassle" - Unfair?

stuartm

I opened a Flexaccount last year and have been trying since September to get Nationwide to transfer all my direct debits across from my old bank.

The process is still not yet complete. I've had threatening letters from Telewest because the new DD wasn't completed, my mortgage company wrote to me telling me there was no new DD, I've had to visit the branch on at least 4 occasions to either restart the process, sort out issues or for duplicate requests.

They have a leaflet saying "Switch to NW and it will be No Hassle or we'll give you £50". I went in today (to sort out the final two DDs) and asked about claiming the £50.

They said no. No reason given. The branch staff have been mainly great, but the team at head office dealing with the account swapping process have been useless.

Is their leaflet illegal? They've told me I have to make a formal complaint, which I intend to do.

Any advice appreciated!

innovate

Don't think their leaflet is illegal (though I haven't seen it).

If you are unhappy and can't make progress with the Branch, follow the Nationwide complaint procedure

If that still doesn't satisfy you, ask them to put into writing why they will not pay you the £50. You can then take the matter up with the banking ombudsman

cheggers

Tell them if you don't get everything sorted and if you don't get the £50 you will close the account.

If you don't get the £50 open a First Direct account they will give you £50 just for opening the account.

Woby_Tide

isn't it the companies who want the DD's responsibility to do part of the work to setup the new DD, I had trouble switching some Powergen ones from Barclays to Nationwide, everyone else completed but powergen kept refusing to do their part after Nationwide contacted them. Maybe that's how Nationwide are trying to worm out by claiming it's the other companies fault(though what there T&C's say though)

stuartm

I could do that, but I'm actually leaving First Direct and moving to Nationwide.
Mainly because FD's interest rates are much worse (on savings as well as current account).

Ironically, FD's service was also starting to get worse. NW have been fine in all other respects, but this is really annoying!

stuartm

Hi innovate

Thanks for the tip. Will do as you suggest.

cheggers

stuartm wrote:

I could do that, but I'm actually leaving First Direct and moving to Nationwide.
Mainly because FD's interest rates are much worse (on savings as well as current account).

Ironically, FD's service was also starting to get worse. NW have been fine in all other respects, but this is really annoying!

What about going to smile there customer service is supposed to be decent. Most of my mate say the smile bank is brilliant.

fagun

This is from the Banking Code (which they subscribe to and should have given you) - the bit in blue is what you're relying on:

7.3 If you want to transfer your current account to us, we will tell you:

• how the process for transferring your account will work and who is responsible for each step in the process;
• what information your old financial institution will pass to us;
• what features you will be offered with the new account so that you can compare your new account with features on your old account; and
• how long the transfer is likely to take.

We will give you what you need to operate the account within 10 working days of approving your application.

7.4 We will cancel any bank charges you will have to pay as a result of any mistake or unnecessary delay by us when you transfer your current account to or from us.

According to their compaints procedures on their website:

The first step is for us to understand the complaint. You can tell us in any of the following ways:

• By visiting one of our branches
• By calling us on 08457 30 20 10

I'd recite both facts to the branch amanger; ask him to explain why they didn't deal with it when you went in the other day ; and ask for compensation for both the original failure and the subsequent time wasted. If the branch manager fails to honour its promise, take down their name and write to the Chief Executive (you cna find it on their website) asking him to explain why Nationwide isn't putting its customers first (their slogan).

BWZN93

Another point worth mentioning is that the interest on Nationwide's flex account is to change in April, if you credit £1000 per month its currrently 3.00%gross pa, its going to be 4.25%, a massive increase.

Jo xx

pin

jw1096 wrote:

Another point worth mentioning is that the interest on Nationwide's flex account is to change in April, if you credit £1000 per month its currrently 3.00%gross pa, its going to be 4.25%, a massive increase.

Jo xx

But at the same time their E-Savings account becomes a bit pants!!

grumbler

innovate wrote:

...If you are unhappy and can't make progress with the Branch, follow the Nationwide complaint procedure ...

I complained recently and although it was in fact my fault , I instantly received 3 (!) replies from 3 different persons and the compensation I asked for . If interested, see my post ...