Nationwide Building Society Loyalty!

epm-84

The transfer of my ISA from Nationwide to Aldermore took 13 working days.  The amount appeared on my Aldermore account the same day as the ISA disappeared from my online Nationwide account, so it seems Aldermore have been very quick at their end, while Nationwide were very slow at their end.

bowlhead99

epm-84 said:

The transfer of my ISA from Nationwide to Aldermore took 13 working days.  The amount appeared on my Aldermore account the same day as the ISA disappeared from my online Nationwide account, so it seems Aldermore have been very quick at their end, while Nationwide were very slow at their end.

Or Aldermore took 11 days to give a properly formatted instruction to Nationwide, who then turned  the request around, calculated the balance and interest accrued, informed Aldermore how much it was going to be, and sent it within a couple of days;  and Aldermore saw it and credited it once it arrived and they had responsibility for it, because they were already expecting it.

It doesn't seem to me that you can infer Aldermore were 'very quick' when you gave them an ISA transfer instruction and they weren't able to get it done for three weeks. Of course if you asked, either provider would blame the other side. The last ISA transfer I did from Virgin to Nationwide was pretty quick; but that was a little over a year ago, and we've been locked down for a while so things may take longer.

Sailtheworld

blue_max_3 said:

Sailtheworld said:

blue_max_3 said:

As with any financial provider once their product stops being fit for your purpose it's time to move. This stuff about them promoting themselves as a cuddly mutual is just marketing BS - ignore this and the anger will dissipate.

I really like Nationwide - friendly, efficient and easy to deal with which buys them a certain amount of inertia. If/ when someone is willing to pay me more than that inertia I'll be off but I hope I take the attitude of being thankful they were able to satisfy my needs for so long rather than angry another financial institution is able to do it better. Much healthier IMO. Plus if I subsequently decide to go back to Nationwide I won't have to do so with my tail between my legs.

So, they are a cuddly mutual for you - that's fine. The inertia was easily overcome for me. I left a quid in to keep them administering the account. Dead easy to fund again if they realise their error. Which, if they get a significant number of defaults on mortgages, they may have too.

No. Just another financial institution from whom I don't expect any loyalty and will offer little in return. As I said I like Nationwide; they answer my queries quickly, I find them easy to deal with, the staff are nice and the products I have suit my needs. That's a good thing and I'm grateful for it.

If any of these things change sufficiently that I can be arsed to look seriously at moving I will do. I won't be on the Internet acting as though a friend or family member has seriously let me down.

Albermarle

epm-84 said:

The transfer of my ISA from Nationwide to Aldermore took 13 working days.  The amount appeared on my Aldermore account the same day as the ISA disappeared from my online Nationwide account, so it seems Aldermore have been very quick at their end, while Nationwide were very slow at their end.

I also transferred from N/wide to Aldermore . After 15days ( not working ones ) I chased Aldermore on a Friday afternoon and the transfer went through at 09.00 am on Saturday morning . Maybe a coincidence, maybe not.....
Anyway I remember the 'old days' when an ISA transfer could take many weeks, so not really an issue for me.

epm-84

bowlhead99 said:

epm-84 said:

The transfer of my ISA from Nationwide to Aldermore took 13 working days.  The amount appeared on my Aldermore account the same day as the ISA disappeared from my online Nationwide account, so it seems Aldermore have been very quick at their end, while Nationwide were very slow at their end.

Or Aldermore took 11 days to give a properly formatted instruction to Nationwide, who then turned  the request around, calculated the balance and interest accrued, informed Aldermore how much it was going to be, and sent it within a couple of days;  and Aldermore saw it and credited it once it arrived and they had responsibility for it, because they were already expecting it.

The last ISA transfer I did from Virgin to Nationwide was pretty quick; but that was a little over a year ago, and we've been locked down for a while so things may take longer.

Nationwide sent me a text on 4th May saying they had received a request to transfer my ISA but due to them being 'unusually busy' the transfer is being delayed - I mentioned this in a previous post.  The account was still showing in my Nationwide online account yesterday.  By Nationwide's own omission they were responsible for the delay.

Yes Nationwide are usually very quick at getting accounts open and money transferred in from other providers.  With ISA transfers out the process is currently very slow, regardless of which provider you are transferring to, as mentioned in numerous posts and some newspapers.

alypen

Just wondering whether anyone has actually tried moving their (non-ISA) savings out of Nationwide?  I appear to be being stymied by the fact that, although all my accounts with Nationwide show up on my online banking, I don't appear to be able to move money from the savings accounts that way.  I suppose I shall have to ring them, but suspect they are going to tell me I shall have to visit a branch, which I don't want to have to do a) because my local one is closed and b) I live with a vulnerable person, so want to be avoiding unnecessary contacts with the outside world.  I think they probably have me over a barrel

jackieblack

alypen said:

Just wondering whether anyone has actually tried moving their (non-ISA) savings out of Nationwide?  I appear to be being stymied by the fact that, although all my accounts with Nationwide show up on my online banking, I don't appear to be able to move money from the savings accounts that way.  I suppose I shall have to ring them, but suspect they are going to tell me I shall have to visit a branch, which I don't want to have to do a) because my local one is closed and b) I live with a vulnerable person, so want to be avoiding unnecessary contacts with the outside world.  I think they probably have me over a barrel

I *think* you can only move it from a savings account to another Nationwide account online. You need to move it into a current account in order to move it to another bank (at least that’s what I was told when I enquired a few years ago, it may have changed since)

d63

jackieblack said:

alypen said:

Just wondering whether anyone has actually tried moving their (non-ISA) savings out of Nationwide?  I appear to be being stymied by the fact that, although all my accounts with Nationwide show up on my online banking, I don't appear to be able to move money from the savings accounts that way.  I suppose I shall have to ring them, but suspect they are going to tell me I shall have to visit a branch, which I don't want to have to do a) because my local one is closed and b) I live with a vulnerable person, so want to be avoiding unnecessary contacts with the outside world.  I think they probably have me over a barrel

I *think* you can only move it from a savings account into a current account online, then you can move it to another bank (at least that’s what I was told when I enquired a few years ago, it may have changed since)

yes that certainly used to be true, but when i opened a 1 year triple access saver (i5) last month they let me specify a nominated account to pay money out to directly. so perhaps that is something to try if you don't have or don't want to open a current account. 

alypen

jackieblack said:I *think* you can only move it from a savings account to another Nationwide account online. You need to move it into a current account in order to move it to another bank (at least that’s what I was told when I enquired a few years ago, it may have changed since)

Yes, that was what I was assuming.  I'm not concerned about that, since I do have a current account with them - it was just that it looked as though I couldn't move money out of my savings accounts (none of which are technically online ones, although they all show up in my online banking) and into it via the online route.  I'll have another look.

alypen

alypen said:

Just wondering whether anyone has actually tried moving their (non-ISA) savings out of Nationwide?  I appear to be being stymied by the fact that, although all my accounts with Nationwide show up on my online banking, I don't appear to be able to move money from the savings accounts that way. 

Correction: there's a "Quick transfer" box on the left-hand side which seemingly allows you to move money between any of your accounts.  Phew, what a relief!  Money duly transferred, and will be moved to somewhere paying a somewhat better interest rate.