7 day current account switch with Nationwide (or not!)

ZarasDad

After being messed about by the Lloyd's and TSB switch and the new 7 day current account switch coming into force, I looked around for the best current account for me. Having decided on Nationwide Flex Plus, ZarasMum and I went into our local branch of Nationwide to arrange the switch. We had fantastic customer service and signed up. We were told we'd be kept up to date by text msg and sure enough this morning a got a text at 8am saying our new account was open BUT the switch wouldn't be complete until 3rd October (10 working days). They gave a a number to call but when I rang it asked for my phone banking passcode. Being new this service had not been set up for me yet! So I rang the branch ans spoke to the excellent personal banking manager who dealt with Nationwide head office for me. It turns out that if you already have a nationwide account and are transferring another current account to it then it takes 7 days. If you are opening a new Nationwide account it takes 3 days plus the 7day switch. This doesn't sound right with all of the national news announcing "7days". I wanted it sorted for oct 1st as most direct debits go out on the first. Now I'll have do wait with fingers crossed to see if my bills get paid or not. Nationwide branch staff had not been trained with this information and apparently many at head office were unaware also.:shocked:

Archi_Bald

This is so funny (nothing personal, ZarasDad). The first of many such, and similar, experiences, I reckon.

The 7 day switch is just another bunch of lies from bankers and politicians.

Someone will come along soon no doubt and tell us something about "teething problems", and "give them a chance". Well, I won't give them any leeway. They chose the project, the date, and the slogan, themselves so if they aren't ready / can't do it, their lies should get exposed.

Phew. Feeling better already for having got that off my chest!

G_M

I've never understood the problem with switching, and have never relied on a bank's 'switching service'.

It is not hard to get a print out of all your standing orders and direct debits, and work out who pays money in (eg your employer).

80% of these you can send an email yourself and inform them of your new bank details.

20% you need to write a letter.

All in all it takes a couple of hours one evening.... but you then know it is done, and have records.

You need to keep a small float in both accounts for a short time to allow for payments that might come from either account.

The advantage of the new system, however (provided it works) is that any payments in/out of your old account after the switch is supposedly complete, will be passed on to the new bank (like Royal Mails redirection service, or Number porting between telecoms providers.