Nationwide Loyalty Bond

lolly5648

I have a Portman account and am going to get a loyalty bond. Does anyone know if I will have to provide proof of identity for this or will they accept me with my Portman account.

Can't say I am impressed with Nationwide so far - went to open the bond in the branch on Friday and they said they couldn't take the money from my Portman account as that has to be done at Head Office. They just gave me a form to fill out and send off with passbook and a cheque.

The girl said she knows nothing about the Portman and didnt know whether I would have to send proof of identity. No-one else in the branch knew either and I couldnt be bothered to wait while she range HO.

bristolleedsfan

lolly5648 wrote: »

I have a Portman account and am going to get a loyalty bond. Does anyone know if I will have to provide proof of identity for this or will they accept me with my Portman account.

Can't say I am impressed with Nationwide so far - went to open the bond in the branch on Friday and they said they couldn't take the money from my Portman account as that has to be done at Head Office. They just gave me a form to fill out and send off with passbook and a cheque.

The girl said she knows nothing about the Portman and didnt know whether I would have to send proof of identity. No-one else in the branch knew either and I couldnt be bothered to wait while she range HO.

there are no hard and fast rules, some building societies dont worry about ID if someone has an existing account others like to reverify id when a new account is opened especially if the existing account was opened some time ago in the past.

nationwide seem keen to reverify id when a former portman account is involved because as far as im aware their is no signatures in former portman passbooks.

nationwide being biggest building society should be able to electronically verify ID assuming person concerned is on electrol roll etc.

i tend to automatically send ID in to the provider to avoid the risk of delays.

nationwide do accept reverification of ID via a branch, ie take your application form along to a branch, with your former portman passbook and your id ( ideally something with signature) ask branch to stamp and sign back of your application form to indicate they have reverified id, personally i would ask the branch if they would send everything on to the head office as well.

if u follow the steps above might be an idea to write in big letters on piece of paper "look on back of application form" ( see my nationwide post in isa section for explanation for this)

if branch say they dont know about reverifying id in a branch just reply with " u do now cos ive just told u"

good luck.

Biggles14

lolly5648 wrote: »

I have a Portman account and am going to get a loyalty bond. Does anyone know if I will have to provide proof of identity for this or will they accept me with my Portman account.

Can't say I am impressed with Nationwide so far - went to open the bond in the branch on Friday and they said they couldn't take the money from my Portman account as that has to be done at Head Office. They just gave me a form to fill out and send off with passbook and a cheque.

The girl said she knows nothing about the Portman and didnt know whether I would have to send proof of identity. No-one else in the branch knew either and I couldnt be bothered to wait while she range HO.

Just opened one myself.
Wrote a cheque to start the bond and handed over my Portman account for the amount to be added as soon as 'Head Office' closed the account.
Once opened, you cannot add to the bond at a later date so it seems it is important to do it all on the same day.
It all went easily enough (although as I only did it 2 days ago I'd better not count the chickens), but I must add that as I also have a Nationwide ISA account the question of identity didn't arise.

:beer:

The_Fiddler_2

You can't add to it but can't you open another one?

Biggles14

The_Fiddler wrote: »

You can't add to it but can't you open another one?

Yes, that is true, you are able to open another Bond of course and I should have mentioned this. (For as long as they are available)

:beer:

free4440273

^Yes, you cannot add to an existing LFRB, but you CAN open multiple LFR Bonds: I have two open concurrently

(and i still quite like NW: I received my paperwork and bond certificates within two days).