£100 if you switch to Nationwide (6 month+ existing members only)

KTF

Nationwide have released a book of 'coupons' that have various deals in them detailed here:

http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=966

The best one is probably the offer they are doing on the Current Account:

£100 when you switch your current account: The promotion will run from 19th March to 5th May 2007 and is open to anyone who has:
(a) held a Nationwide product for 6 months or more;
(b) transfers their existing current account to Nationwide’s FlexAccount; and
(c) will credit £1000 or more per month to their Nationwide FlexAccount.
Applications received by Nationwide before or after the promotion dates will not qualify for the promotion. £100 will be credited to a customer’s FlexAccount within 5 working days of receipt by Nationwide of a signed authority detailing the direct debits and standing orders to be transferred from a previous bank or building society to a Nationwide FlexAccount. Only one payment per customer will be made. On a joint account, only one payment of £100 will be made provided none of the account holders have received a payment of £100 in respect of another FlexAccount during the promotion.

Other small print:
Offers are available to customers between March 19 and May 5 2007, with the Book of Offers available in Nationwide branches.

Gambler

Would a branch based nationwide Cash ISA be okay I wonder. If so, I'll hold back on transferring it !!

KTF

It just says a Nationwide product of 6 months or more so I imagine the Cash ISA would count.

Gambler

KTF wrote: »

It just says a Nationwide product of 6 months or more so I imagine the Cash ISA would count.

Looks like Halifax are going to lose out then as their switching process has been painful !

stphnstevey

I have a mortgage with them, so hope thats ok?

Surprised this hasn't got more replies/coverage as it seems just as good as the Halifax offer.

Sounds like they give you the £100 after confirming change of your direct debit authority. Once you have received the £100, do you actually need to fund the account at all? Could this simply be a free £100 for existing Nationwide customers who have a dormant current account elsewhere?

YorkshireBoy

stphnstevey wrote: »

I have a mortgage with them, so hope thats ok?

0800 302010

Surprised this hasn't got more replies/coverage as it seems just as good as the Halifax offer.

It's far better. For example, the £100 is paid within 5 working days of them receiving your signed authority to switch the DD's and/or SO's. The full offer T&C's are here.

My understanding, after speaking to their Head Office Marketing Department, is that anyone with a 'dormant' FlexAccount (perhaps kept only for the free overseas cash withdrawals) can set up a couple of SO's on another account (personally I'm using my A&L account) and simply switch these.

Once you have received the £100, can you just stop funding the account?

Again, from the horses mouth, the only penalty for not funding the account (after you've received the £100) is the poor 'in credit' interest rate. They will not remove the £100 once it's paid.

Exceller8

Originally Posted by stphnstevey
I have a mortgage with them, so hope thats ok?

Providing you have had your mortgage for a min of 6 months i asked about this today and was told it was ok XLR8

techno_geek

YorkshireBoy wrote:

Again, from the horses mouth, the only penalty for not funding the account (after you've received the £100) is the poor 'in credit' interest rate. They will not remove the £100 once it's paid.

Hang on... I'm slightly confused...

The promotion will run from 19 March to 5 May 2007 and is open to anyone who has:
(a) held a Nationwide product for six months or more;
(b) transfers their existing current account to Nationwide’s FlexAccount; and
(c) will credit £1,000 or more per month to their Nationwide FlexAccount and is accepted for, or already holds, a debit card account

Nationwide are shooting themselves in the foot aren't they?

rajinder

I hold a current a/c with NWBS though its not my main current a/c, would I be able to qualify for £100?

Also, when switch current account, doe that mean that other other current account from Barclays get closed down? Will I be able to have both accounts?

Please help! Many thanks in advance.

thesaint

rajinder wrote: »

I hold a current a/c with NWBS though its not my main current a/c, would I be able to qualify for £100?

Also, when switch current account, doe that mean that other other current account from Barclays get closed down? Will I be able to have both accounts?

Please help! Many thanks in advance.

Yorkshireboy posted a freephone number above^^^

Gambler

can this be done online or in branch only?