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New Nationwide Switch - both new and existing?

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Comments

  • pearl123
    pearl123 Posts: 2,082 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I've just set up a water direct debit to come out on the 7th. Do I need to apply for a switch with Nationwide after this date or fill out the switch now. And then request a switch after th 7th?
  • CRISPIANNE3
    CRISPIANNE3 Posts: 1,476 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    pearl123 said:
    I've just set up a water direct debit to come out on the 7th. Do I need to apply for a switch with Nationwide after this date or fill out the switch now. And then request a switch after th 7th?
     I knew some dd's would coming out on the 8th so went for the 9th to start switch. You can fill out the switch online form now but indicate when you want the switch to complete. However bear in mind it has to be within the 30 days.
  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    Scrounger said:
    OK, you're probably right, but Nationwide have a get-out clause if they decide to use it.

    And why should existing applications be excluded anyway?  Seems a bit harsh.


    Scrounger
    The clause about accounts being in the process of application seems a little strange but they will have their reasons for it - possibly something to do with the way their systems work. The main point is that switches which were initiated before the offer got announced will not benefit from the offer.

    There's a relatively easy way to bypass this. If you don't have an eligible Nationwide current account, you just open yet another new one and switch into that one, even if you have to also open an extra donor account. It all depends on how keen you are to get £125.
  • soulsaver
    soulsaver Posts: 6,606 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Scrounger said:
    OK, you're probably right, but Nationwide have a get-out clause if they decide to use it.

    And why should existing applications be excluded anyway?  Seems a bit harsh.


    Scrounger

    IMO, Nationwide is trying to be fair in telling people that what they had in progress before the offer was launched won't qualify even if it completes after the launch date. So people then have the option do something that qualifies rather than sitting waiting for a bonus that won't happen... and then complaining.


  • soulsaver
    soulsaver Posts: 6,606 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 25 August 2021 at 11:50AM
    pearl123 said:
    If I take out a charity direct debit to get this offer. Does this account need to keep two direct debits going in the long run?
    Terms are on Page 4. What does it say about having to keep the DD going?
  • Fingerbobs
    Fingerbobs Posts: 1,702 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    pearl123 said:
    I've just set up a water direct debit to come out on the 7th. Do I need to apply for a switch with Nationwide after this date or fill out the switch now. And then request a switch after th 7th?
    You would probably be ok applying for the switch now, but personally I am going to wait until after each DD has been taken at least once from my donor account before even applying for a switch. Just removes any doubt. 
  • Scrounger
    Scrounger Posts: 1,093 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    pearl123 said:
    If I take out a charity direct debit to get this offer. Does this account need to keep two direct debits going in the long run?
    No, you can cancel them as soon as you get the free money.

    Alternatively, keep the going ready for the next switch.  :)

    Scrounger 
  • schiff
    schiff Posts: 20,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Having waded through these 28 pages for the useful information (TYVM) I find it a miracle of biblical proprtions that there has been no mention of:

    - 2% AER fixed savings interest on up to £1,500 in year 1 (then 0.25% AER variable) if you pay in at least £1,000/mth.
    (from the MES email). Have I missed it?
  • eskbanker
    eskbanker Posts: 37,005 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    schiff said:
    Having waded through these 28 pages for the useful information (TYVM) I find it a miracle of biblical proprtions that there has been no mention of:

    - 2% AER fixed savings interest on up to £1,500 in year 1 (then 0.25% AER variable) if you pay in at least £1,000/mth.
    (from the MES email). Have I missed it?
    Isn't that just the generic FlexDirect benefits package, rather than anything to do with the switching offer?
  • AndyPK
    AndyPK Posts: 4,351 Forumite
    Part of the Furniture 1,000 Posts
    yeah I couldn't find that on their website
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