Switching bank accounts, but old bank won't let the switch go through

mean-woman

I've just opened a Natwest select account and wanted to switch from my Nationwide account to the new Natwest one, taking advantage of the seven-day switching service. I have received a text from Natwest today to say that Nationwide has rejected the request for the account to be switched to Natwest. Surely they have to let the switch happen?

Gizmo247

Perhaps there is a security mismatch.

Does Nationwide have the same name and address as that given to Natwest to open the new account?

cifpower

Or is your account overdrawn?

pmduk

Have you spoken to Nationwide?

meer53

Speak to Nationwide to see why it's rejected ?

mean-woman

Thanks all - I've spent a frustrating lunch hour being passed around Nationwide. Customer services said my account, unbeknownst to me, was with the collections department, despite regular salary going in, being in credit and no overdraft. Customer services didn't know why this had happened and I certainly had no idea, so I was passed to collections to find out why. They also didn't know as in credit, etc etc, so passed me back to customer services, who said I would need to speak to collections..... I gave up at this point as an hour is quite long enough to talk to any bank and I had to go through security with every person I spoke to. And they wonder why I would like to switch! I can't bear to spend another lunch hour on the phone sorting this out. Would it be easier just to move everything over myself?

NowRetired

Would it be easier just to move everything over myself?

Probably.


........

Archi_Bald

If you don't owe Nationwide any money, on this or any other account, you could raise a formal complaint. You got to get to the bottom of the issue as otherwise there could be a negative impact on your credit records.

There shouldn't be any reason for not moving your DDs, SOs and money to a different bank yourself in the meantime.

Though I must ask: leaving aside the above issue, what is better at Natwest than at Nationwide? Have you had other issues with Nationwide?

mean-woman

Thanks for the advice. I'm switching for logistical reasons really - I pay in cheques every so often but am now not near a Nationwide branch. There is, however, a Natwest near to where I work. I also do a lot of online banking and am not that fond of Nationwide's offering. I have never had any problem at all with Nationwide in the five or so years I have been banking with them – until today!

Archi_Bald

You aren't limited to one current account only, you could keep your Nationwide account alongside a Natwest one - just use the Natwest one to pay in your cheques, and use online banking to ship your money around to where it is needed.

Online banking is partly a personal preference - to me, Nationwide's online banking is right at the top, together with Santander, Lloyds/BOS, Halifax and TSB. Natwest/Ulster/RBS do what you need to do but I find it a bit basic in appearance and the navigation is cumbersome.

Anyway - in your shoes I would definitely complain formally to Nationwide about having passed your account to collections

rb10

mean-woman wrote: »

I also do a lot of online banking and am not that fond of Nationwide's offering.

The phrase 'out of the frying pan and into the fire' comes into mind here.