New Nationwide Switch - both new and existing?

CRISPIANNE3

Fingerbobs said:

I've just been told that Nationwide have temporarily suspended switches from Tesco accounts. They cause "problems" apparently. 

Fortunately my donor is not Tesco. I had a choice Marks and Spencer or TSB so decided to go for the latter.

Fingerbobs

CRISPIANNE3 said:

Fingerbobs said:

I've just been told that Nationwide have temporarily suspended switches from Tesco accounts. They cause "problems" apparently. 

Fortunately my donor is not Tesco. I had a choice Marks and Spencer or TSB so decided to go for the latter.

I've got other donor accounts I could use, but Tesco seemed the obvious choice at the moment. I'm sure they will resolve their switching issues soon. 

Bobblehat

I've just looked at the MSE "Top Bank Account for New Switchers" section and it says this regarding the issue of new members trying to get the higher NW "bribe" instead of the lower one (as mentioned by forum members way back in this thread) .......

"Though there's an easy trick to qualify if you don't – open a savings account with £1, then wait until the day after it's fully open to request your switch. Keep the savings account open until the switch completes and, hey presto, you get the higher bribe."

Does this really mean just open a Savings Account or open a Current Account beforehand (one of the qualifying accounts), or would you have to open both to be a member? Can you open a Savings account without a Current Account? And if you have to open a Current Account first, do you need to open a Savings Account?

I'm a bit confused about the wording of the above suggestion to grab another £25. Could someone explain in better terms how this "new member" looking like an "existing member" works?

I have had NW accounts in the past but switched out completely in August 2020, so I guess I would be regarded as a new member.

Ed-1

Bobblehat said:

I've just looked at the MSE "Top Bank Account for New Switchers" section and it says this regarding the issue of new members trying to get the higher NW "bribe" instead of the lower one (as mentioned by forum members way back in this thread) .......

"Though there's an easy trick to qualify if you don't – open a savings account with £1, then wait until the day after it's fully open to request your switch. Keep the savings account open until the switch completes and, hey presto, you get the higher bribe."

Does this really mean just open a Savings Account or open a Current Account beforehand (one of the qualifying accounts), or would you have to open both to be a member? Can you open a Savings account without a Current Account? And if you have to open a Current Account first, do you need to open a Savings Account?

I'm a bit confused about the wording of the above suggestion to grab another £25. Could someone explain in better terms how this "new member" looking like an "existing member" works?

I have had NW accounts in the past but switched out completely in August 2020, so I guess I would be regarded as a new member.

MSE are over complicating it.

The terms are clear as day. You need to have been a member the day before you request the switch.

To become a member you need to hold a savings, or current account, or mortgage with Nationwide.

So if you open a current account today, you become a member today. If you then request a switch tomorrow, you qualify as an existing member.

Bobblehat

Thanks Ed-1 .... I had an idea that it might be as simple as your explanation, but thought it best to ask before applying.

Has anyone who would be regarded as a new member actually applied for one of the qualifying accounts after the offer appeared, and delayed the request to switch by a day or so? I take it you have to not apply for the switch at the point of applying for the qualifying account, but there is a way of requesting the switch once the account has been open a day or so? Is that right?

Scrounger

It usually takes a day for the new account to appear in online banking so just apply for the switch then.

Dead easy - and well worth the 1-day delay for an extra £25.

Scrounger

fleemkt

CRISPIANNE3 said:

alandaniel132 said:

CRISPIANNE3 said:

Is it possible to open a new account with NW and switch into that. I have been a member for over 20 years.

why don't you just switch your other bank to your NW current account?
and no need to open a new account with NW

If you see my latest post this is what I am now going to do. 

I'm thinking of switching into my existing FlexDirect account to avoid a hard search.

Would you mind letting me know how the application goes?  Are questions pre-populated etc.

colsten

Bobblehat said:

there is a way of requesting the switch once the account has been open a day or so? Is that right?

Yes, there is a way, and it's totally straight forward to do

Ed-1

Just a heads up regarding logging in to online banking if you have no existing accounts with Nationwide:
When you apply for a new current account, it wipes your existing passcode and issues a new one by post. So you can't login to request the switch until you get it or the debit card and PIN.

CRISPIANNE3

fleemkt said:

CRISPIANNE3 said:

alandaniel132 said:

CRISPIANNE3 said:

Is it possible to open a new account with NW and switch into that. I have been a member for over 20 years.

why don't you just switch your other bank to your NW current account?
and no need to open a new account with NW

If you see my latest post this is what I am now going to do. 

I'm thinking of switching into my existing FlexDirect account to avoid a hard search.

Would you mind letting me know how the application goes?  Are questions pre-populated etc.

Very straight forward. I just went into my account page and on the left is the switch button. Everything is populated. When finished I received a text about 1 hour later  saying good news we have accepted your switch application. Also as previously posted there is no issue even if a bonus as been paid before they will still pay out provided of course the criteria is met.