New Nationwide Switch - both new and existing?

bristolleedsfan

https://www.dailymail.co.uk/money/saving/article-9898143/Nationwide-launches-cash-bribe-current-account-switchers.html

"Those who already hold a current account with Nationwide will not be eligible for either incentive"

dcs34

bristolleedsfan said:

https://www.dailymail.co.uk/money/saving/article-9898143/Nationwide-launches-cash-bribe-current-account-switchers.html

"Those who already hold a current account with Nationwide will not be eligible for either incentive"

Yet, the same article:

"Members must use Nationwide’s Internet Bank to switch a current account they hold with another provider to an existing account they already hold with the Society "

superM

I have a joint acc and received an incentive.  Will this be 1 incentive or if I open another account in my name only will get the switching incentive twice. 

colsten

superM said:

I have a joint acc and received an incentive.  Will this be 1 incentive or if I open another account in my name only will get the switching incentive twice. 

The T&Cs that Nationwide will release will clarify this.

Zanderman

dcs34 said:

bristolleedsfan said:

https://www.dailymail.co.uk/money/saving/article-9898143/Nationwide-launches-cash-bribe-current-account-switchers.html

"Those who already hold a current account with Nationwide will not be eligible for either incentive"

Yet, the same article:

"Members must use Nationwide’s Internet Bank to switch a current account they hold with another provider to an existing account they already hold with the Society "

Well it is the Daily Mail - we shouldn't expect a reliable story!

Interesting that it's the main text that says existing account holders not eligible but it's the picture caption that says they are. Maybe the picture desk (if papers still have these!) getting a different version of the story.

I'm not going to speculate on which is correct, and will just wait for the formal announcement.

[Deleted User]

I tried to apply for a nation-wide account once about 13 years ago, they made me go to branch, took a copy of all my documents and then it all went for a walk. Anyone know if it is an easy process these days?

Lightning360

Deleted_User said:

I tried to apply for a nation-wide account once about 13 years ago, they made me go to branch, took a copy of all my documents and then it all went for a walk. Anyone know if it is an easy process these days?

Everything was online for me. It was a simple and quick process.

MDMD

Zanderman said:

dcs34 said:

bristolleedsfan said:

https://www.dailymail.co.uk/money/saving/article-9898143/Nationwide-launches-cash-bribe-current-account-switchers.html

"Those who already hold a current account with Nationwide will not be eligible for either incentive"

Yet, the same article:

"Members must use Nationwide’s Internet Bank to switch a current account they hold with another provider to an existing account they already hold with the Society "

Well it is the Daily Mail - we shouldn't expect a reliable story!

Interesting that it's the main text that says existing account holders not eligible but it's the picture caption that says they are. Maybe the picture desk (if papers still have these!) getting a different version of the story.

I'm not going to speculate on which is correct, and will just wait for the formal announcement.

Looks like that bit about “existing account” was lifted directly from Nationwide’s own press release 

https://www.nationwidemediacentre.co.uk/news/nationwide-launches-new-current-account-switching-incentive-and-savings-account-exclusively-for-current-account-members

andyhicks88

I wonder if there will be restrictions based on how recently you had a Nationwide Current Account?  I actually only switched from one of their current accounts a few months ago (but still hold a savings account with them) but would be up for switching back and actually was already thinking of doing so even before this incentive was announced anyway. I have a feeling the small print may disqualify me from the monetary incentive though?

colsten

Flex Instant Saver will be exclusively available to current account members and will pay a competitive 0.35% AER.

This is an 'exclusive' that I can easily pass on when I can get nearly twice the rate elsewhere, without needing a current account to begin with.

Nationwide will pay £125 to existing members who switch their current account to the Society........ Members must use Nationwide’s Internet Bank to switch a current account they hold with another provider to an existing account they already hold with the Society or open a new account to switch to using Nationwide’s website, Internet Bank or Mobile Banking App

Now this sounds a lot more interesting  . Though I still keep my powder dry until I have seen the actual offer T&Cs.