New Nationwide Switch - both new and existing?

noh

Deleted User said:

noh said:

Money_Grabber13579 said:

I think this highlights my dilemma.

td_007 said:

Money_Grabber13579 said:

5. You’ll qualify for this offer if:

• you use our Internet Bank to switch a current account held with another provider to a FlexAccount, FlexPlus or FlexDirect current account you have with us, or
• you open a FlexAccount, FlexPlus or FlexDirect current account with us through our website, Internet Bank or Banking app and switch a current account held with another provider to that account.

To me, this suggests that if I have an existing current account with Nationwide (which I do), I can switch my M&S current account into that account and get £125.

However:

10. You also won’t qualify for this offer if:

• you started your application to open a FlexAccount, FlexPlus or FlexDirect current account with us or requested your switch before this offer was made available. This will apply even if that application or switch is completed after this offer is made available. If we withdraw this offer and make it available again in the future, this exclusion will still apply

Does this mean that I won't get the £125 if I do the above, because my "application to open" was started before the offer was available, which it obviously was, given I've held it for a long time?  Do I then need to open a new current account and switch into that?  If so, condition 5 doesn't make a lot of sense as both parts are effectively saying the same thing i.e. you open an account or you have opened an account from today onwards.

Anyone have any thoughts on this?

The way I read it is:

If you have a NW current account (exisiting member) :

- you will be eligible for £125 if you open a new account anytime from today onwards and switch

-you will not be eligible if for example you had started the process of opening a NW current account yesterday. However, it does not stop you opening yet another account if NW permits (you can have upto total of 4 FlexAccount or/and FlexDirect accounts sole or joint) and this new account will be eligible.

The same also applies to new members except that switch incentive is £100

If I understand you correctly, you are of the view that I would need to open a new account and switch into that to be eligible for the incentive i.e. an account which I opened years ago wouldn't be sufficient as all that does is make me an existing member.  I agree that this seems to be the literal intrepretation.

Yorkshire_Pud said:

Money_Grabber13579 said:

5. You’ll qualify for this offer if:

• you use our Internet Bank to switch a current account held with another provider to a FlexAccount, FlexPlus or FlexDirect current account you have with us, or
• you open a FlexAccount, FlexPlus or FlexDirect current account with us through our website, Internet Bank or Banking app and switch a current account held with another provider to that account.

To me, this suggests that if I have an existing current account with Nationwide (which I do), I can switch my M&S current account into that account and get £125.

However:

10. You also won’t qualify for this offer if:

• you started your application to open a FlexAccount, FlexPlus or FlexDirect current account with us or requested your switch before this offer was made available. This will apply even if that application or switch is completed after this offer is made available. If we withdraw this offer and make it available again in the future, this exclusion will still apply

Does this mean that I won't get the £125 if I do the above, because my "application to open" was started before the offer was available, which it obviously was, given I've held it for a long time?  Do I then need to open a new current account and switch into that?  If so, condition 5 doesn't make a lot of sense as both parts are effectively saying the same thing i.e. you open an account or you have opened an account from today onwards.

Anyone have any thoughts on this?

They are referring to folks who are in the process of opening an account not those who opened an account such as yourself in the past. That’s because those folks were already wanting to be with Nationwide anyway with no mention of a bonus to attract them. So you should be fine, long as you got two DDs set up on the M&S account.

However, this seems to be a counter view, in that an long term account should be sufficient to switch into, as it clearly wasn't opened with the idea of getting any incentive.  I can therefore see the logic of this intrepretation.


On the whole though, it seems like it will be safer to open a new current account and switch into that and then worry about getting rid of that account (perhaps merging with an existing Nationwide account, if that's possible) at a later date.  I'm trying to reduce the number of current accounts that I have, but if I can pick up bonuses whilst doing that, even better!

You do not need to open a new account if you are an existing member with a Flex, Flex Plus or Flex Direct account. If you switch an account with two DDs into your existing account you should receive £125.
Near the end of this page 
https://www.nationwide.co.uk/current-accounts/switch/

There are a series of questions the answers to which determines your eligbility and amount of the switch incentive.

I have switched 3 accounts today into existing Flex accounts (mine my wifes and joint) and expect to receive £125 for each switch.

Are you sure you'd get 3 incentives between you as I read it to be one per member?

The T+Cs of the offer say
https://www.nationwide.co.uk/current-accounts/help/terms/current-account-online-switch-offer-terms-and-conditions/

"How do I qualify for the offer?

1. You must meet all the requirements set out in these terms and conditions. You won’t qualify for this offer if any of the exclusions set out in clauses 9 or 10 apply to you.
2. This offer is only valid on the first sole current account and first joint current account you switch to us, even if we withdraw this offer and launch it again in the future."

Which indicates to me that the incentive will be paid once per sole account and once per joint account.

Therefore a couple with existing sole accounts and a joint account should receive 3 incentive payments in total one each for the sole accounts and one for the joint account.

Note the use of the word "and". 
If it was only one incentive per member the wording would have been "This offer is only valid on the first sole current account or first joint current account "

Shedman

"This offer is only valid on the first sole current account and first joint current account you switch to us, even if we withdraw this offer and launch it again in the future."

But would the incentive be paid for both switching INTO a sole account and a joint account or, as the words actually say "you switch to us", would it only be if you switched a sole account and a joint account FROM other banks??  And it does seem to contravene the the 'you can only benefit only once' rule.  

Does anybody at these banks actually get somebody outside of the marketing/legal team to read the T&Cs and point out the inconsistencies and ambiguities?  Maybe they should subcontract some of us on this forum to point out the queries beforehand...pretty sure that would save their call centre staff a lot of unnecessary calls (mind you Santander's lack of thorough checking of their switch T&Cs proved to be a real upside 😅)

TheShape

Can anyone remember when Nationwide last had a switching offer?  I can't remember if I've switched into my Nationwide account previously.

I could open a new FlexAccount and switch to that I suppose but don't want any delays as I'm a last minute M&S switcher.

Ghostcrawler

TheShape said:

Can anyone remember when Nationwide last had a switching offer?  I can't remember if I've switched into my Nationwide account previously.

I could open a new FlexAccount and switch to that I suppose but don't want any delays as I'm a last minute M&S switcher.

Dec 2019 perhaps? This is the time me and my wife did the switches to Nationwide.

noh

Shedman said:

"This offer is only valid on the first sole current account and first joint current account you switch to us, even if we withdraw this offer and launch it again in the future."

But would the incentive be paid for both switching INTO a sole account and a joint account or, as the words actually say "you switch to us", would it only be if you switched a sole account and a joint account FROM other banks??  And it does seem to contravene the the 'you can only benefit only once' rule.  

Does anybody at these banks actually get somebody outside of the marketing/legal team to read the T&Cs and point out the inconsistencies and ambiguities?  Maybe they should subcontract some of us on this forum to point out the queries beforehand...pretty sure that would save their call centre staff a lot of unnecessary calls (mind you Santander's lack of thorough checking of their switch T&Cs proved to be a real upside 😅)

The T+Cs seem clear to me.
We will see if 3 incentive payments are made.

Can you tell me where in the T+Cs it says "you can only benefit once" as you have stated?

gozaimasu

Just set up a couple of DDs and the first availlable date was 31st Aug. If I apply now and set the switch date to 1st Sep, do you reckon that would be acceptable? If I wait until 31st to apply then they might have withdrawn the offer.

noh

gozaimasu said:

Just set up a couple of DDs and the first availlable date was 31st Aug. If I apply now and set the switch date to 1st Sep, do you reckon that would be acceptable? If I wait until 31st to apply then they might have withdrawn the offer.

As long as the switch completion date is within 30 days of you requesting it and the offer is available when you make the request you are eligible.
Probably better to make your switch completion date 10 September then it will start on the 2nd.

kaMelo

gozaimasu said:

Just set up a couple of DDs and the first availlable date was 31st Aug. If I apply now and set the switch date to 1st Sep, do you reckon that would be acceptable? If I wait until 31st to apply then they might have withdrawn the offer.

I'd set the switch date a little later than that just in case, especially as 30th August is a bank holiday.
As long as the process has started then waiting a week longer for the switch won't cause any problems.

noh

gozaimasu said:

Just set up a couple of DDs and the first availlable date was 31st Aug. If I apply now and set the switch date to 1st Sep, do you reckon that would be acceptable? If I wait until 31st to apply then they might have withdrawn the offer.

You can change the target completion date from the switching tracker available in internet banking.
If you set 10th of Sept as target completion date then the switch will commence on the 2nd

superM

superM said:

Terms and conditions questions

• You’ve previously benefitted from this offer, as set out at clause 4.

Currently I have a joint Nationwide account which I opened for the benefit of 0% overdraft interest for 12 months. I did not had a joint acc previously with Nationwide.

I did receive switching offer on my sole and my wifes sole account pteviously.

I am correct in saying I can switch account to joint with 2 paid DDs we should be eligible for the incentive?

If I open a sole account in my name that acc would not be eligible?

Thanks 

Anyone please?