New Nationwide Switch - both new and existing?

CRISPIANNE3

superM said:

Does Nationwode do a hard search for existing current account customers when not reauesting overdraft?

Someone on page 17 said it was a soft search but I am not sure if that is corrwct. 

From my experience about 2 years ago I applied for another account with NW and that was definitely  hard search. However that was with an overdraft. 

mole_man

Hi all! Hoping someone can help with this one as I am not 100% sure and have only ever done one switch before! I have an existing Nationwide FlexDirect account and would like to switch for £125. I have not really used it after the 5% ended.

I have a NatWest account doing absolutely nothing. So, after seeing this offer, I have moved a couple of direct debits from my main account (Halifax) to be taken from NatWest. The DDs will be set up to have the payments taken on the 1st September & 4th September.

If I were to set up the switch to Nationwide today but select a switch date of say the 10th September, would I still get the £125?

colsten

mole_man said:

Hi all! Hoping someone can help with this one as I am not 100% sure and have only ever done one switch before! I have an existing Nationwide FlexDirect account and would like to switch for £125. I have not really used it after the 5% ended.

I have a NatWest account doing absolutely nothing. So, after seeing this offer, I have moved a couple of direct debits from my main account (Halifax) to be taken from NatWest. The DDs will be set up to have the payments taken on the 1st September & 4th September.

If I were to set up the switch to Nationwide today but select a switch date of say the 10th September, would I still get the £125?

From what you have described, yes you would, as your switch completes within 30 days (assuming there are no other issues)

mole_man

colsten said:

mole_man said:

…

From what you have described, yes you would, as your switch completes within 30 days (assuming there are no other issues)

Ah that’s brilliant! I will get the ball rolling today then. Thank you!

Tharweb

mole_man said:

colsten said:

mole_man said:

…

From what you have described, yes you would, as your switch completes within 30 days (assuming there are no other issues)

Ah that’s brilliant! I will get the ball rolling today then. Thank you!

The switch tracker tells you when the process starts and when it ends. If you have a DD going out on the 4th, make sure there are at least 7 working days clear for the switch. I wouldn't set it to complete before at least 15th September if I was you.

Check this previous post https://forums.moneysavingexpert.com/discussion/6290595/new-nationwide-switch-both-new-and-existing/p10

mole_man

Tharweb said:

mole_man said:

colsten said:

mole_man said:

…

From what you have described, yes you would, as your switch completes within 30 days (assuming there are no other issues)

Ah that’s brilliant! I will get the ball rolling today then. Thank you!

The switch tracker tells you when the process starts and when it ends. If you have a DD going out on the 4th, make sure there are at least 7 working days clear for the switch. I wouldn't set it to complete before at least 15th September if I was you.

Check this previous post https://forums.moneysavingexpert.com/discussion/6290595/new-nationwide-switch-both-new-and-existing/p10

I see! I will set it to the 15th, just to be on the safe side.

CRISPIANNE3

My switch start date is the 7 September and complete on the 15 September. I have one dd going out on the 1 Sept and one dd on the 6 September , 7 September and 8 September. 

Also reading the terms and conditions it only states they must be active. 

kaMelo

CRISPIANNE3 said:

My switch start date is the 7 September and complete on the 15 September. I have one dd going out on the 1 Sept and one dd on the 6 September , 7 September and 8 September. 

Also reading the terms and conditions it only states they must be active. 

Are they all existing DD's, as in they took a payment prior to September?

If so then they are active and qualify.

CRISPIANNE3

kaMelo said:

CRISPIANNE3 said:

My switch start date is the 7 September and complete on the 15 September. I have one dd going out on the 1 Sept and one dd on the 6 September , 7 September and 8 September. 

Also reading the terms and conditions it only states they must be active. 

Are they all existing DD's, as in they took a payment prior to September?

If so then they are active and qualify.

They are first payments because I switched the dd's from another account. There is nothing to say they have to be paid prior to September and two will have been paid prior to the switch starting. However perhaps you have gleamed some further information that I am not aware of. 

Quote
7. You must transfer a minimum of two active Direct Debits from the current account being switched to the Nationwide account. Other types of
automated payments, such as standing orders and recurring card payments, won’t count towards .  unquote

kaMelo

When a DD is set up it's "last payment date" will not show and it's frequency will show "unknown" 
Once a payment is taken these will be filled and clearly an active DD.
Whether Nationwide will classify a DD as "active" simply because it's there and never paid out is something only Nationwide can answer.