Norwich & Peterborough Gold Classic application experience

dakkan

Sorry, if its been posted here before. I would like to find out about the application process for opening N&P gold classic account. I had been trying to open one for past 18 months, but always get declined.

I decided to apply again couple of days back (after waiting for more than 6 months), surprisingly this time I received email next day that my application has been accepted. They also mentioned that they will send me paperwork to sign and then they will be able to tell me my account number!!

My question is , haven't they performed credit search before they accepted me? or are they going to conduct full search now (after sending signed application form) and decide to open an account?


I would be grateful if you could share your account opening experience with them.

Many thanks in advance.

fiesta04

If they are sending your account details it would appear your credit search was ok.

Having recently opened Gold Account myself they seem ok. Just be aware with their limited use of Faster Payments In and Out have cut off times.

F4

dakkan

Hello Fiesta,
Thanks for quick reply. Looks like all banks with fee free Overseas transaction account are not good with Faster payment. I do have Metro bank account (mainly for abroad use) as they are slow with faster payment as well.. it could take upto 2 hours to send/receive

Got few more questions :
How long did it take for you to open current account with them? Have you had to send the signed documents as well?

At what point do they give you overdraft facilities information?

Do you know which CRA they use ?

Many thanks

fiesta04

1- Faster Payments do not take effect from 5pm to 5am. Fast????

2- It took 4 days in all to open Gold Classic Bank Account and Regular Saver. This included Cheque Book and PIN number.

3- I only had the application forms to sign and return. No other documents to complete.

4- They gave me an instant £250 Overdraft.

5- No idea on CRA's used.

F4

dakkan

F4,
Many thanks for that. I have signed and posted the application form today. They did not ask for any other documents (proof of ID / address etc). I hope it goes through this time. Will provide update shortly...

dakkan

I received an email that my account has been opened! :j
But no mention of overdraft Don't mind it though as I hardly use it... but sometimes comes handy...:(

System

So which is better Metro bank or N&P?

I'm thinking in terms of application and current accounts functionality.

dakkan

I cannot compare right now as I have only opened N&P recently.

Metro Bank can open your bank account instantly at the branch and you can can walk away with Debit card, cheque book and PIN etc at the same time. They use Equifax. Their banking systems are very old type and faster payment can take up to 2 hours for both sending and receiving.

N&P gold classic account are very difficult to get I think especially if you do not live close to their branches. I got rejected more than 3 times before. This time they decided to offer me account mainly because I have offered to switch my bank account with them ( I suppose :eek:)

I preferred N&P more because you will get free sentinel card protection if you pay in £500 per month which is not a big problem for me.

huw01

I have both N&P and Metro bank accounts. Both opened for the free overseas ATM usage. I would say that N&P are better in the fact that their Internet banking is better, you get the free sentinel card protection and their gold savings accounts (especially the regular saver rates) are better for current account customers. As a current acc customer you also get share dealing at£8.95 per transaction with no management fees levied.

So I would say that N&P offer more Preferential rates and services to their current account customers than Metro bank. As far as the overseas cash withdrawals go they are pretty much similar except that N&P give you a Visa debit card where Metro give you a MasterCard debit card. Visa will work better in some parts of the world and Mastercard better in others

huw01

N and P are offering £25 in an introduce a friend scheme

http://www.nandp.co.uk/current-account/introduce-friend

http://www.nandp.co.uk/PDFs/current-account/recommendation-form

If anybody is thinking of opening one PM me and we can both receive £25 :j

anon_ymous

huw01 wrote: »

N and P are offering £25 in an introduce a friend scheme

http://www.nandp.co.uk/current-account/introduce-friend

http://www.nandp.co.uk/PDFs/current-account/recommendation-form

If anybody is thinking of opening one PM me and we can both receive £25 :j

Please disregard my PM. It's been past 31/12/12 now. Didn't notice that bit!

I have a gold light account and I was told that I should hopefully be able to upgrade to a gold classic in about 6 months, provided I deposit in £500/month (which I do)