New Nationwide Switch - both new and existing?

Rich2808

CRISPIANNE3 said:

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. 

Isn't it always a hard search for a new current account - overdraft facility or not (as you can still go into the red).

Seems this offer is also available to those with existing current accounts - which wouldn't result I assume in any search as no new account is being opened?

Just wondering what is in this for Nationwide in terms of offering a £125 bonus to existing current account holders? Given what happened with their £50 cash bonus on their 'member exclusive fixed rate' ISA offer recently (which resulted in chaos and long delays in ISA transfers - mine took nearly two months from application instead of the supposed 15 days!) I just hope their systems can cope!

colsten

crumpet_man said:

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.

Not sure. I think it's been discussed earlier in this thread, and I think to get the bonus it has to be a joint account to go into the joint account if you also want the sole account bonuses, but I didn't pay too much attention to it. Best ask Nationwide as it's them who will decide

Costabit said:

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 

I have seen nothing in the T&Cs that prescribes any specific order

soulsaver

crumpet_man said:

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.

Sole-to-joint in this circumstance would be a 2nd sole ac switch in your name (either) and would fail under clause 4 in the terms, always assuming it isn't a loop-hole.

Terms reproduced page 4 in this thread:

4. 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.

ST-User

soulsaver said

4. 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.

Does this not mean that my wife and me both can switch to NW a solo and a joint account?

General_Grant

ST-User said:

soulsaver said

4. 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.

Does this not mean that my wife and me both can switch to NW a solo and a joint account?

No.  Because each of you would be party to the same joint account.  (Unless either or both of you has a joint account with someone else and it is that joint account which is transferred not one which you share with each other.)

crumpet_man

Thanks for clarifying, I'll open a joint donor with a bank we already have sole accounts with then switch that after we've switched the solo accounts to Nationwide.

soulsaver

General_Grant said:

ST-User said:

soulsaver said

4. 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.

Does this not mean that my wife and me both can switch to NW a solo and a joint account?

No.  Because each of you would be party to the same joint account.  (Unless either or both of you has a joint account with someone else and it is that joint account which is transferred not one which you share with each other.)

Banks/BSs wont allow a transfer of a name on the switching ac that is not on the target account, joint or solo.

CRISPIANNE3

colsten said:

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.

Hopefully the first two dd's will go through before the switch starts. 

MACKEM99

Ed-1 said:

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.

How can you have an existing passcode if you have no account?

Ed-1

MACKEM99 said:

Ed-1 said:

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.

How can you have an existing passcode if you have no account?

From a previous account you had but since closed...