MSE News: N&P extends account closure deadline and four banks WILL offer switch bonus

Former_MSE_Rosie

More than half of all Norwich & Peterborough customers now have longer to close their current accounts, and four banks have confirmed that they will be able to earn up to £200 switching to them...

Read the full story:
'Norwich & Peterborough extends account closure deadline and four banks WILL offer switching bonuses'

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veryintrigued

I received a letter in Feb but the final para is titled as below and states:

You don't need to do anything right now

We do understand that this represents a potentially significant change for our N&P customers. We will contact you again should these proposals go ahead and will do everything we can to support you through these changes.

With the above para in mind I won't be doing anything just yet.

eskbanker

According to their March update at http://www.nandp.co.uk/changes/ they were halfway through customer notifications at that stage, so if they're still only halfway through notifying the customer base (as per the MSE article) then that obviously suggests that they haven't written to any customers about this for three months!

We are in the process of writing to all current account customers individually advising them that they need to close their account. So far, we have written to half of our customers and as a result have already seen a great deal of activity in terms of account closures and switches to alternative providers.

The MSE article also suggests that the six month deadline is news but this was also mentioned in N&P's March update:

If you have not received your letter, that details how to switch or close your current account, then you do not have to take any action yet, unless you want to. However, we will ensure that all customers will be given six months from the date they receive their letter, to switch or close their account.

System

They would have been quicker decanting them en-mass to someone like Nationwide as they only had a single sort code.