Nationwide Select...

swindled

I've had a Nationwide account for yonks, my primary purpose was to benefit from the extremely good rates available for cash withdrawals and using credit cards abroad.

That has all changed now of course and you must fulfill certain criteria, such as paying in £750/month and using it as your main account such as having all your regular payments go out of it.

So as I will be going abroad, I thought now was as good a time as any to get all that sorted out so I could get the 0% rates on using my cards abroad.

Unfortunately, although I met the paying in at least £750 a month requirement, and using it as my main account, I was told that I was ineligible as I didn't have any regular payments to transfer. Everything goes onto my credit card, I don't have a contract mobile phone, and all the utilities are included in my rent, which is paid by cheque each month, as the landlord specified.

I offered to set up a regular payment to pay my credit card minimum payment each month, but that wasn't good enough, it must be a 'transfer of regular payments from one account to another.'

So what is my solution, do I open another bank account with another bank, complete with regular payment for the minimum payment and then transfer it all across? Or are there other providers that will do the same 0% card rates without the need for the onerous requirements? Then I can do away with the Nationwide account altogether...

rb10

No need for any regular payments if you've paid in at least £750 per month for the past three months - see the definition of 'main' current account customer at http://www.nationwide.co.uk/creditcard/select-credit-card/offer-deals.htm

Try again, ask someone else. Or better still, apply online.

james123456_2

£750 a month is sufficient criteria to be classed as a main current account holder. They only want you to complete the account transfer service because that way it contributes towards their individual and branch sales targets.

innovate

If this is true, I hope the OP took the name of the person(s) who provided the mis-information because this warrants a complaint about the particular employee.

Hooloovoo

Just as an aside, it's a Nationwide FlexAccount.

Natwest have Select accounts.

guesswho2000

Hooloovoo wrote: »

Just as an aside, it's a Nationwide FlexAccount.

Natwest have Select accounts.

I think OP is referring to the Select credit card.

Gromitt

I was told similar:

If you open an account and transfer the regular payments via their transfer service, you can apply for the "Flexclusives" (such as the Select Credit card) immediately. I transferred a £2 DD to a savings account, and then removed it once I got the flexclusives that I wanted.

However, if you just open an account without a transfer, then you can't apply for any of the benefits (such as the Select credit card) for the first 3 months after opening the account. Once they see the £750 for 3 consecutive months, you are then allowed to apply for the other products.

swindled

Ah, that will be why, in Aug I paid in £1000, in September I paid in £1,500 and nothing in October. November was another £1000 and December, well I just paid in £750 today.

But anyway, he seemed adamant that I wouldn't be able to get it even by just paying in £750 a month, I had to transfer regular payments from another account. He said I'd get the free European travel insurance clear enough, but was ineligible for the discounted Select credit card and debit card withdrawal rates.

How does it work anyway, can I pay in £750, withdraw it a short time later and then just recycle the same £750 back through the account each month later? How long does it have to be in the account for and what dates does it need to be in the account by? Any link to where it says I can get all this stuff by just paying in £750/month?

innovate

Gromitt wrote: »

However, if you just open an account without a transfer, then you can't apply for any of the benefits (such as the Select credit card) for the first 3 months after opening the account. Once they see the £750 for 3 consecutive months, you are then allowed to apply for the other products.

This is in line with the T&Cs. The OP does say they qualified based on the £750 payments.

swindled wrote: »

..... I met the paying in at least £750 a month requirement, and using it as my main account......

swindled, can you confirm you had at least £750 deposited for the last 3, consecutive, months?

If so, you fulfill the Flexclusive pre-reqs for the Select card. Of course, they could turn it down for other reasons (such as, they just don't like giving you a credit card) but you definitely wouldn't need any DDs as a pre-req, as per the T&Cs.

swindled

innovate wrote: »

This is in line with the T&Cs. The OP does say they qualified based on the £750 payments.



swindled, can you confirm you had at least £750 deposited for the last 3, consecutive, months?

If so, you fulfill the Flexclusive pre-reqs for the Select card. Of course, they could turn it down for other reasons (such as, they just don't like giving you a credit card) but you definitely wouldn't need any DDs as a pre-req, as per the T&Cs.

Just checked as per my previous post, and I missed out on October's deposit so I will have to wait another month or so... :mad:

Is there any way I can get the Flexclusives right now, e.g. opening another account with another bank with a DD going to pay my existing NW credit card and transferring that as I will be going abroad next month.

I don't see any reason why they wouldn't give me a CC, I've had a CC with them for at least 7 or 8 years, I use it every month and not once have I missed a payment.

rb10

swindled wrote: »

Is there any way I can get the Flexclusives right now, e.g. opening another account with another bank with a DD going to pay my existing NW credit card and transferring that as I will be going abroad next month.

Yes, that would work.

Alternatively, apply at the start of January -by then you'll have been able to make payments in Nov/Dec/Jan.