Opening accounts - Nationwide & Bank of Scotland

garfield33

Hi MSE-ers,
Bit of background: I already have Santander 123 and 2x TSB, both fully funded with the right amounts going in & out each month (and as many direct debits as possible for the 123 cashback). I also have the TSB and Leeds Building Society Regular Savers set up with the maximum amount going in each month.


Last weekend I decided to finally close down my ISA (late I know), and opened a Nationwide FlexDirect, and a Bank of Scotland Classic Vantage and fully funded them, and set the required amounts going in & out each month.


So far so good. However... two things have scuppered my plans:
1) Nationwide say I'm not eligible for their 5% regular saver - is this because the account is new? Do I need to wait a bit longer before opening that?
2) I logged into BoS, followed the link to open a second current account, entered the same info as the first application - and have been turned down. Has this happened to anyone else, does anyone know the likely reason? I thought it could be too many hits on the credit agencies in a short space of time. The "sorry no" page offered a link to the reasons it'd been turned down, but there weren't any actually there, just links to the credit agencies and an address to write to, to challenge the decision.


If anyone has had the same please let me know, and in the meantime I'll find another home for the rest of my ISA.


Thanks!
G33

billy_blue_hat

I got exactly the same with both accounts last month. No idea why unfortunately, but found alternate homes for the money. Guess I'll try again when I run out of other accounts to use.

YorkshireBoy

garfield33 wrote: »

If anyone has had the same please let me know

Both your issues have been reported on here recently. A search around will find them, and provide a way forward.

garfield33

Thanks both, I have a mooch around this board a couple of times a week and hadn't noticed anyone saying they'd been turned down, and I've done a few searches and not found anything either (I fully accept this is down to my lack of skills at searching a forum!). I'll keep looking.


Edit: never mind, found a couple of references to BoS now - thanks!

xylophone

You hold a Flexdirect? I don't understand the problem opening the Flexclusive Regular Saver.

http://www.nationwide.co.uk/products/savings/flexclusive-regular-saver/features-and-benefits

Flexclusive Regular Saver is for individuals aged 18 or over who meet one of the following two criteria:

Hold a FlexOne account and be aged 18 or over, or hold a FlexAccount and have:
Been paying in £750+ a month for the last 3 months (excluding transfers from any Nationwide account held by you or anyone else); or
Completed an account switch to us (from a non-Nationwide account) using our Current Account Switch Team in the last 4 months; or
Hold a FlexDirect or FlexPlus account.
You can hold only one Regular Saver or Flexclusive Regular Saver account, which can be held in either sole or joint names. Only one account holder must meet the eligibility criteria."

garfield33

Yep - I get this message
"We're sorry
To open this account, you need to have a main current account with Nationwide and have been paying in £750 or more a month."


Despite doing the application after logging in and triple-checking that my account is a FlexDirect
I'll leave it a few days and try again, and if still no luck I'll take on the customer services helpdesk! I'll have to psych myself up for that though

xylophone

https://portal.nationet.com/nationwide/appforms/FlexclusiveRegularSaver/default.aspx?p=NDc0M15BXkZsZXhjbHVzaXZlIFJlZ3VsYXIgU2F2ZXI=&a=bmV3

Have you tried from here?

garfield33

Thanks Xylophone - that seems to have gone through, it says it should be up and running in 7 days

MARTYM8`

One other thing to think about is the Nationwide recommend a friend scheme.

If you switch another account into your new Flexdirect - can just be a donor account - including at least two direct debits (e.g. Tesco savings) you and the referrer (has to be another current account customer) get £100 each.

http://www.nationwide.co.uk/products/current-accounts/service/raf-conditions

enthusiasticsaver

I was denied a second BOS account just after Christmas probably because I had opened too many current accounts around the same time. I see now you have managed to open your new Nationwide flexclusive regular saver. There should be no reason why there was a problem as I opened one with no problem shortly after opening the flex direct.

Crag30

garfield33 wrote: »

1) Nationwide say I'm not eligible for their 5% regular saver - is this because the account is new? Do I need to wait a bit longer before opening that

It seems you need to wait 3 months to open the regular saver. I had the same problem after opening the Flexdirect, but it did come up on screen saying it was because I had yet to deposit the required £1000 pay in for three months