MSE news: Nationwide revives £50 current account bonus

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  • starM
    starM Forumite Posts: 1,464 Forumite
    It also states in the t&c that this offer is only available to flexi account customers who has a Visa Debt card on the account. I have read on previous forums that Nationwide is strict in providing Debit card on the account. Is that still the case?
  • Megalomaniac
    Megalomaniac Forumite Posts: 539 Forumite
    starM wrote: »
    It also states in the t&c that this offer is only available to flexi account customers who has a Visa Debt card on the account. I have read on previous forums that Nationwide is strict in providing Debit card on the account. Is that still the case?

    I think so. Took me 2 years to get one after receiving a cashcard.

    On a seperate note though, don't even start to consider using this account as your main one. For one, no interest is paid, or any incentive to pay in your salary at all. Secondly, no faster payments in or out depsite a lot of the banks being at least able to receive.

    Best thing to do, like most here do, use it for spending abroad and just transfer a standing order and not put up with all the hassle of transferring your direct debits etc... from your main account :)
  • Milarky
    Milarky Forumite Posts: 6,346
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    On a seperate note though, don't even start to consider using this account as your main one. For one, no interest is paid, or any incentive to pay in your salary at all. Secondly, no faster payments in or out depsite a lot of the banks being at least able to receive.
    Not strictly true. If you get a second flexaccount they are now issued with sort code '07-02-46' which can receive faster payments of all sizes and sends faster payments of up £10. I have had such an account since March, so can keep the Nationwide topped up from elsewhere and (less often) transfer small amount out by (if necessary) multiple payments under their limit.

    On a related point (the offer) has anyone received their £50 for switching in July yet? The conditions state a credit will be made within 8 weeks of completing your transfer. Given I had the first DD payment taken from Nationwide 8 weeks ago - which by definition would be after the transfer was complete - the appear a tad late.
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  • Megalomaniac
    Megalomaniac Forumite Posts: 539 Forumite
    Milarky wrote: »
    Not strictly true. If you get a second flexaccount they are now issued with sort code '07-02-46' which can receive faster payments of all sizes and sends faster payments of up £10.

    My mistake Milarky! Yet another reason why I don't like Nationwide. I opened my account online 4 years ago but myself, as with any other customers who have been with them before them, don't get those benefits. This £50 offer also kicks those in the teeth who do use it as their main account...
  • noh
    noh Forumite Posts: 5,778
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    My mistake Milarky! Yet another reason why I don't like Nationwide. I opened my account online 4 years ago but myself, as with any other customers who have been with them before them, don't get those benefits. This £50 offer also kicks those in the teeth who do use it as their main account...

    Existing customers who use it as their main account are entitled to the £50 the same as new customers.
    It's very easy just sign in and request the transfer.
    It only needs standing orders or bill payments to be transfered.
    I've been a customer for over 20 years did the transfer last night of a few bill payments and a SO, specifically set up for the purpose, from one of my 3 Halifax Reward current accounts.
    It's extremely easy for existing customers to get the £50.
    In fact i think Nationwide is the only organisation that allows existing customers to gain from switching incentives.
  • Chomeur
    Chomeur Forumite Posts: 2,104
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    noh wrote: »
    All they do is ask the organisations to switch the DDs it really is up to you to make sure they have been successfully changed. It's the same with all banks.

    From the Nationwide web site:-

    We will notify your direct debit companies of your change in account details. It's then the responsibility of the individual companies to change their records within ten working days of notification. However, it can take longer than this for your records to be updated, so we would advise you to ensure that there is enough money left in both your old and new accounts to cover your payments until you are satisfied the account transfer process is complete.

    I had enough money in both accounts. But my credit card company ignored the instructions from Nationwide to collect from them, and my direct debit with my old bank was cancelled (not by me). And I was away, so two payments failed.

    From the Nationwide website:

    "Many people think switching their current account is complicated and time consuming, with our Account Transfer service it couldn't be easier."

    It has been complicated and time consuming and I still haven't had any reply from Nationwide.
  • iceking
    iceking Forumite Posts: 24 Forumite
    If I set up a standing order from a Halifax account to my second Nationwide account for £1/month and do the transfer to the main account using the above, would I qualify?

    The Halifax doesn't have any direct debits, bill payments or salary going in.
  • trynsave
    trynsave Forumite Posts: 812
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    Do you not have a credit card that you could set up a bill payment to, or perhaps an account belonging to a close family member? You can set up the instuctions without making any payments. Nationwide wouldn't know that you never actually used it/them.
  • noh
    noh Forumite Posts: 5,778
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    edited 13 October 2009 at 9:16PM
    Originally Posted by Chomeur

    I had enough money in both accounts. But my credit card company ignored the instructions from Nationwide to collect from them, and my direct debit with my old bank was cancelled (not by me). And I was away, so two payments failed.

    From the Nationwide website:

    "Many people think switching their current account is complicated and time consuming, with our Account Transfer service it couldn't be easier."

    It has been complicated and time consuming and I still haven't had any reply from Nationwide.
    The fault is with the credit card company. They did not implement the request to switch the DD to the new account.
    Have they confirmed they received the request and have they told you why they didn't comply with it?
    They really have no excuse for not carrying out the instructions or contacting you to arrange a new DD.

    This from the Bacs website details the actions the credit card company should have taken on receiving the request.
    http://www.bacs.co.uk/Bacs/Businesses/BacsAcademy/AccountSwitching/YourCustomers/Pages/YourCustomers.aspx
  • noh
    noh Forumite Posts: 5,778
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    iceking wrote: »
    If I set up a standing order from a Halifax account to my second Nationwide account for £1/month and do the transfer to the main account using the above, would I qualify?

    The Halifax doesn't have any direct debits, bill payments or salary going in.

    Yes that will work.
    Thats what I did along with setting up a couple of bill payments
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