Become a Nationwide member without "windfall" signaway

MarkyMarkD

bristolleedsfan wrote: »

"if the signway sticks " :rolleyes: hence reason i said to poster to forget he had seen the post :rolleyes:

perhaps we could set up a poll on here and find out what percentage of moneysavers joined nationwide pre signaway and since signaway :cool:

We'll never agree about this. But people lose nothing by assuming that Nationwide signaway MIGHT stick and doing things to work around it.

bristolleedsfan

MarkyMarkD wrote: »

But people lose nothing

gain nothing either imo :rolleyes:

wombat42_2

I have had a Portman account for about 8 years. It currently has £100 in it. I think this was before anyone had to sign up for any 5 year signaway. So presumably I wouldnt have to wait 5 years to get any Nationwide windfall and the 5 years is up anyway.

My question is would It be wise to resist opening a Nationwide Flexaccount (so I could get free debit card transactions abroad) to avoid nullifying my non-signaway membership status with my Portman account ?

bristolleedsfan

wombat42 wrote: »

I have had a Portman account for about 8 years. It currently has £100 in it. I think this was before anyone had to sign up for any 5 year signaway. So presumably I wouldnt have to wait 5 years to get any Nationwide windfall and the 5 years is up anyway.

My question is would It be wise to resist opening a Nationwide Flexaccount (so I could get free debit card transactions abroad) to avoid nullifying my non-signaway membership status with my Portman account ?

if u not desperate to open your flexi account before nationwide takeover of portman is complete then u might as well wait until 28th august ( if u are going to wait, it would be prudent to ask nationwide in advance about booking an appointment for 28th august onwards)

if you need to open a flexi account before 28th august then that would be for your judgement based on both what nationwide have said about their plans for the future and what you have read elsewhere ( some of which has been based on hypothetical scenarios)

wombat42_2

There is no rush. So you are saying if I leave it until after the 28/8/07 there will be no problem ?

bristolleedsfan

wombat42 wrote: »

There is no rush. So you are saying if I leave it until after the 28/8/07 there will be no problem ?

after 28th august u will be a nationwide member by virtue of your portman membership having become nationwide membership, from then on u can open additional nationwide accounts , when u complete flexi account application form there will be a space to insert existing nationwide accounts, enter what is currently your portman account ( from 28th august it will be a nationwide account, even if its a closed issue nationwide account)

nationwide tend to require appointments for new account openings, they will be busier after 28th august for apparent reasons so good idea to make an appointment in advance for 28th august or after.

MattB_4

If i remember you get about a months grace for being a member if you don't have continuous accounts. So you might not cheat the system anyway. Of course that assumes Portman accounts will be on the NBS system for it all to join up on the first day....

bristolleedsfan

MattB wrote: »

If i remember you get about a months grace for being a member if you don't have continuous accounts. So you might not cheat the system anyway. Of course that assumes Portman accounts will be on the NBS system for it all to join up on the first day....

" all portman branches will be closed for one day on 25th august 2007 whilst system changes are made"

"merger cheques for those who are eligible are expected to be mailed third week of september" ( are usually posted second class)

"transactions can be carried out anywhere in the new enlarged branch network from tuesday 28th august"

source, leaflet i picked up in portman branch 2day

bristolleedsfan

wombat42 wrote: »

There is no rush. So you are saying if I leave it until after the 28/8/07 there will be no problem ?

on 28th august u will become a nationwide member due to the merger with portman building society, all portman accounts will have become nationwide accounts on 28th august whatever u do re opening additional nationwide accounts after 28th august wont change this apparent fact.

as previously stated if u open an additional nationwide account after 28th august, on application form put your existing account no.

no further individual answers can be given with any certainty due to fact that original post was posing a hypothetical scenerio.

my belief which others share is that if nationwide were to ever change its status, nationwide would treat all its members fairly, and would make sufficient payments to the charitable foundation ( to keep the charitable foundation happy) in the same way as northern rock has done.

MattB_4

bristolleedsfan wrote: »

" all portman branches will be closed for one day on 25th august 2007 whilst system changes are made"

That doesn't mean transfer of all account onto NBS systems. If only!