New Nationwide Switch - both new and existing?

General_Grant

kaMelo said:

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.

The last payment date will show whether it was taken recently (within the last year for active annual subs) but the frequency cannot be judged by the bank from just one payment so would remain "unknown" until a second payment had been taken and, in fact, could still be unpredictable.  So it must surely be just the last date paid which determines the active status.

soulsaver

soulsaver said:

youngretired said:

Has anyone tried to switch a sole into an existing joint account?

I've got a sole which already have the 2 DD on, so am trying to switch this into my joint. When you go to switch it online the form automatically puts the other half in and nowhere does it allow you to state that it is a sole you are switching in. I have had a live chat and they couldn't help and so have now sent a secure message as advised, but says may take 5 days for a response.

I know you are able to switch a sole into a joint, but unlike other banks that allow you to indicate that it is a sole being switched in I can't find anything on Nationwide to indicate this.

I don't want to open a sole account if I can help it, as I have already opened 3 accounts within the last 12 months.

 If you've already got a NatWide ac an additional new ac with them is a soft search, if that helps. 

Ok further to the above & re your PM: 
Couple of options:

IIRC it only asks if the other person has a debit card - I just put no (IIRC unticked the box). That may process OK IMO, but I cancelled this one so it's just a theory.

If you don't want to risk failing - go down the open new (appropriate, FlexDirect for example) account  and do a solo-to-solo (s2s) switch, using your account with the 2 xDDs.

If you decide you want to cancel that solo-to-joint switch (presumably to do the s2s  switch) then see Colsten's post on page 18.
Incongruously IMO you have to immediately go through security a second time, then find the switch tracker on the left hand options - per her screen grab.

Gran to suck eggs possibly but FTAOD, if you have more than one on the go, click on the '+' to view detail to ensure you cancel the right one.

eta improved clarity

colsten

CRISPIANNE3 said:

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

I wouldn't chance it without two DDs which both have paid at least once. Although if a switch bonus fails due to unpaid DDs, you might be able to do another switch, with paid DDs, if the offer is still going.

locky123

Is it possible to open a joint NW account and then switch a single/sole account using the NW online service?

colsten

yes, you can switch single accounts into a joint account.

Just in case you are unaware: as a couple, you can get 3 x £125, as has been discussed earlier.

youngretired

Thanks soulsaver. I've started my switch as I've managed to have another live chat with Nationwide and she said that when they submit the switch to the other bank, they will know that it's a sole so should have no problems. I've just unticked the card details (so No Card) under the other account holder.

If there is a problem then I'll go down the route of opening a sole account.

Zanderman

General_Grant said:

kaMelo said:

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.

The last payment date will show whether it was taken recently (within the last year for active annual subs) but the frequency cannot be judged by the bank from just one payment so would remain "unknown" until a second payment had been taken and, in fact, could still be unpredictable.  So it must surely be just the last date paid which determines the active status.

Indeed.  Many DDs don't have a known frequency. Paypal ones for example. Just because it says frequency 'unknown' isn't evidence it hasn't happened yet.  All this talk of 'unknown' being a signal of a new, as yet unused, DD is incorrect and rather misleading.  And on that basis I doubt Nationwide would regard 'frequency unknown' as meaning unused.  Whether they are party to other data on previous use (like last payment paid data) is not clear.  But the simple 'frequency' data is certainly not evidence either way.   

colsten

Zanderman said:

General_Grant said:

kaMelo said:

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.

The last payment date will show whether it was taken recently (within the last year for active annual subs) but the frequency cannot be judged by the bank from just one payment so would remain "unknown" until a second payment had been taken and, in fact, could still be unpredictable.  So it must surely be just the last date paid which determines the active status.

Indeed.  Many DDs don't have a known frequency. Paypal ones for example. Just because it says frequency 'unknown' isn't evidence it hasn't happened yet.  All this talk of 'unknown' being a signal of a new, as yet unused, DD is incorrect and rather misleading.  And on that basis I doubt Nationwide would regard 'frequency unknown' as meaning unused.  Whether they are party to other data on previous use (like last payment paid data) is not clear.  But the simple 'frequency' data is certainly not evidence either way.   

My theory is that it wouldn‘t be Nationwide who determines whether a DD is active but the old bank. 

I know there are some banks which don‘t show DDs in online banking/app until they have paid at least once. So they might also not pass those DDs on when a switch is requested.

In any case, though, I don‘t understand what the problem is. A new DD instruction set up today can be paid out in the next 7  to max 10 working days. The beneficiary will tell you what the earliest date is, and will process your DD on your chosen day. Nationwide allow you to specify a switch date - so you can set up the switch request as soon as you have set up your DDs and know what date(s) they will happen. Add a couple of working days as a buffer when you choose your switch date. Your switch can still complete well within the 30 (calendar?) day window Nationwide are allowing.

crumpet_man

colsten said:

yes, you can switch single accounts into a joint account.

Just in case you are unaware: as a couple, you can get 3 x £125, as has been discussed earlier.

I think I have missed the specifics of this.  Myself and partner already have sole flex direct accounts and will switch sole accounts from TSB. 

If we open a new flexdirect joint account, do we have to switch a joint account from another bank or can I switch a sole account into the joint account and still get the £125?  We have a joint account already but actually use it and it might not be worth the hassle to switch it and then switch back.  We could open a new joint account to use as a donor but if sole to joint qualifies for the bonus after already doing two separate solo switches then that's easier for me.

Costabit

colsten said:

yes, you can switch single accounts into a joint account.

Just in case you are unaware: as a couple, you can get 3 x £125, as has been discussed earlier.

Does it matter which order the switches are done?

Can it be Joint followed by single x2 or does it have to be single , single followed by Joint switch
To get three x£125