Your Expiience to get N&P Gold Current A/C

adindas

Dear All

I have various bank accounts, savings, Credit Cards, with high spending Limits in many of UK high street banks and BS but my application for Gold current A/C with N&P got declined. This is the first time I got rejected for a current A/C application.

The reason:
"Do not meet the unique N&P scoring system" without any further explanation how the scoring system work. How could I improve my scoring to meet the criteria ....

Contradictory, they immediately approved my application for regular saving account: Both RSA and E-RSA !!. What a Joke ....

They are probably suspicious that I am there to use this a/c for overseas spending only and take benefit of 5% regular saving a/c ?

I believe N&P could see this from CRA how many UK banks a/c I already have at the moment.

If I was trying to call them it might about 10 minutes before I could talk to them. One of the worst I have ever experience with UK Banks & BS. Once I got through the customer service just repeated what I had known e.g. the generic answer "do not meet the unique scoring system".

Has anyone here managed to get or get rejected for an N&P Gold current a/c ?. Please share your knowledge ....

People could learn it and therefore could formulate the strategic action to do ...

ADINDAS

dmg24

Did you mean to post on the Travel board?

adindas

Dear dmg24

Thank you for reminder. The reason why I am posting it here because I have seen that people are trying to get N&P or similar bank account to replace their NW bank account to get cheap travel money, currency. Not bank a/c for daily use. But I will post it to other thread if there is a chance I will get a better chance of replies.

ADINDAS

dmg24 wrote: »

Did you mean to post on the Travel board?

dzug1

adindas wrote: »

They are probably suspicious that I am there to use this a/c for overseas spending only and take benefit of 5% regular saving a/c ?

Well yes, isn't that what you are there for? They want people who will use the account regularly and/or for decent sums, not !!!!!!!!!!s. Nationwide's attempt to solve the same problem was a bit clumsy and maybe backfired - theirs seems much more subtle. Whether it will last remains to be seen.

EDIT - I didn't think the word that MSE has edited out was THAT rude. It starts free....

adindas

Well, you are right. I only want it for overseas withdrawal.

If they want people not to use their bank a/c in this way they should restrict it in their T&C rather than wasting people time to apply and get rejected.


ADINDAS

dzug1 wrote: »

Well yes, isn't that what you are there for? They want people who will use the account regularly and/or for decent sums, not !!!!!!!!!!s. Nationwide's attempt to solve the same problem was a bit clumsy and maybe backfired - theirs seems much more subtle. Whether it will last remains to be seen.

EDIT - I didn't think the word that MSE has edited out was THAT rude. It starts free....

sunshinetours

adindas wrote: »

Well, you are right. I only want it for overseas withdrawal.

If they want people not to use their bank a/c in this way they should restrict it in their T&C rather than wasting people time to apply and get rejected.


ADINDAS

Their system appears to work just fine!

I am happy that their systems stop too many people abusing perks available to long term account holders, thereby pushing up charges etc

I am also happy they don't lend and havent lent to more risky individuals

adindas

Dear sunshinetours
Well, what I could say is that it might be ‘yes’ it might “not”. Normally if the people want to use account as primary account for daily use, they will use high street banks such as HSBC, Barclays, Lloyds – TSB, etc if they could get one.

N&P could be used as secondary or even third account. We have seen people who already got 2 a/c still managed to open N&P Gold account. How could they prevent those people to use those N&P gold account for overseas withdrawal? 5 No. Transactions of 1p will do the job, to maintain this account.

I think, the best way to avoid this is increase the requirement for eligibility, monthly payment, etc. Anyway I still have Cumberland BS and Halifax Clarity Card that I could use for overseas withdrawal.
ADINDAS

sunshinetours wrote: »

Their system appears to work just fine!

I am happy that their systems stop too many people abusing perks available to long term account holders, thereby pushing up charges etc

I am also happy they don't lend and havent lent to more risky individuals

dzug1

adindas wrote: »

I think, the best way to avoid this is increase the requirement for eligibility, monthly payment, etc. Anyway I still have Cumberland BS and Halifax Clarity Card that I could use for overseas withdrawal.
ADINDAS

It may be the best way, yes. Obviously N&P whose responsibility it is to make the decision think otherwise and in the end it's their shout, not yours.

And if you have those other accounts why are you in the least bit worried about getting yet another one?

sunshinetours

adindas wrote: »

Dear sunshinetours
Well, what I could say is that it might be ‘yes’ it might “not”. Normally if the people want to use account as primary account for daily use, they will use high street banks such as HSBC, Barclays, Lloyds – TSB, etc if they could get one.

N&P could be used as secondary or even third account. We have seen people who already got 2 a/c still managed to open N&P Gold account. How could they prevent those people to use those N&P gold account for overseas withdrawal? 5 No. Transactions of 1p will do the job, to maintain this account.

I think, the best way to avoid this is increase the requirement for eligibility, monthly payment, etc. Anyway I still have Cumberland BS and Halifax Clarity Card that I could use for overseas withdrawal.
ADINDAS

As you therefore don't require the account maybe you shouldn't take it as a personal slant on your undoubedly impeccable credit history then.
N&P have long had "tricky" criteria to qualify for certain products and maybe more banks/building societies should take a leaf out of their book