New Nationwide Switch - both new and existing?

Iand1

PRAISETHESUN said:

So my switch completed yesterday and I've gotten a text message from Nationwide just now confirming that I qualify for the switch incentive (using a single linked BM account). Payment will apparently be made within the next 24 hours. Seems very efficient!

Same, checked online banking just after the text..... money already there.

1 down, 2 to go..... 

PRAISETHESUN

crumpet_man said:

PRAISETHESUN, I'm sure we all want to know, had the DDs on the donor account paid out prior to the switch?

As I stated in my reply to @dcs34, yes both my DDs had paid out prior to the switch.

EDIT: 
Switch incentive has also been paid

fleemkt

masonic said:

fleemkt said:

Descrabled said:

The switching process swaps details of direct debits, standing orders, and payees on the first working day. Details of any changes or additions after the switching process has begun are not transferred.

I was going to ask on here what happens if the switch date is around when an established DD is due to be taken, but it appears @Descrabled may have answered it.  I assume you work in the banking sector?

So if I've a DD scheduled for collection on 8th Sept and the switch date is 6th Sept, I assume it will be fine?

When do companies initiate collection of a DD - 2 / 3 days before payment date?

I'm very dubious that DDs would need to be anything more than set up (i.e. 2-4 working days after the originator processes your direct debit instruction). However, if as some people seem to think, the DDs should have paid, then perhaps Nationwide has access to the last payment date via CASS and is not going to accept DDs where the last payment date is not set. If this is the case then they must have paid on day 1 of the 7 working day switch. So in that unlikely event you would not be ok.

New DDs have a 2 working day set up time, followed by a 3 working day collection cycle, but most originators wait longer than that to allow for delays. The payment will be known to the bank 2 working days ahead of collection.

"Active" in the context of a DD is not a term that is defined in the conditions of this offer, nor does it have a regulated meaning, therefore under FCA fairness principles the definition that is most favourable on the consumer would be the one that must be used in adjudicating any complaint arising under this offer. If a consumer could show that they had reasonable grounds to believe the DD was active (e.g. a screenshot showing it listed among their active direct debits at the source bank, and said DD was transferred during CASS - in my experience even DDs that have never paid, either before a switch or after it from the new account, are transferred by CASS), then Nationwide wouldn't have grounds for denying the payment. Though it is little effort to trigger a payment and will just result in a few days extra delay in those setting up new DDs.

I have two monthly DDs on my donor account, one of which is around the 8th of the month.

So if my switch starts today with a completion date of 7th September, would the DD scheduled for the 8th be of concern?  This DD was last paid out 8th of this month.

If the originator requests / initiates the payment from my old bank next Tues / Wed, I assume the old bank would provide my Nationwide details to them to collect from 8th Sept?

masonic

fleemkt said:

masonic said:

fleemkt said:

Descrabled said:

The switching process swaps details of direct debits, standing orders, and payees on the first working day. Details of any changes or additions after the switching process has begun are not transferred.

I was going to ask on here what happens if the switch date is around when an established DD is due to be taken, but it appears @Descrabled may have answered it.  I assume you work in the banking sector?

So if I've a DD scheduled for collection on 8th Sept and the switch date is 6th Sept, I assume it will be fine?

When do companies initiate collection of a DD - 2 / 3 days before payment date?

I'm very dubious that DDs would need to be anything more than set up (i.e. 2-4 working days after the originator processes your direct debit instruction). However, if as some people seem to think, the DDs should have paid, then perhaps Nationwide has access to the last payment date via CASS and is not going to accept DDs where the last payment date is not set. If this is the case then they must have paid on day 1 of the 7 working day switch. So in that unlikely event you would not be ok.

New DDs have a 2 working day set up time, followed by a 3 working day collection cycle, but most originators wait longer than that to allow for delays. The payment will be known to the bank 2 working days ahead of collection.

"Active" in the context of a DD is not a term that is defined in the conditions of this offer, nor does it have a regulated meaning, therefore under FCA fairness principles the definition that is most favourable on the consumer would be the one that must be used in adjudicating any complaint arising under this offer. If a consumer could show that they had reasonable grounds to believe the DD was active (e.g. a screenshot showing it listed among their active direct debits at the source bank, and said DD was transferred during CASS - in my experience even DDs that have never paid, either before a switch or after it from the new account, are transferred by CASS), then Nationwide wouldn't have grounds for denying the payment. Though it is little effort to trigger a payment and will just result in a few days extra delay in those setting up new DDs.

I have two monthly DDs on my donor account, one of which is around the 8th of the month.

So if my switch starts today with a completion date of 7th September, would the DD scheduled for the 8th be of concern?  This DD was last paid out 8th of this month.

If the originator requests / initiates the payment from my old bank next Tues / Wed, I assume the old bank would provide my Nationwide details to them to collect from 8th Sept?

It's not a concern with a CASS switch. As discussed above, DDs are shared on day 1 and are set up on the new account before the switch date (typically visible on day 3 and functional from day 5, meaning a payment is capable of being taken from the day of the switch). The banks drive this process and you can be sure they have seen many instances of DDs being taken on and around a switch date.

fleemkt

Great, thanks masonic - that's reassuring!

td_007

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.

I have applied to switch a sole account in my name to a joint NW account using the link in online banking. In the switch application where is the option to say yes/no to debit card of donor account select "no" for the joint account holder. You will get a pop up saying if a debit card exists the switch will not happpen etc. - just close that box and carry on. It should work...

td_007

moneyfoolish said:

noh said:

moneyfoolish said:

noh said:

moneyfoolish said:

I was going to switch from a Club Lloyds account into an already existing Nationwide account but when the question about Debit Cards came up I didn't know what to answer because I might have been sent a debit card from Lloyds but, if so, have cut it up as I knew I would never use it! Can I answer that I don't have one because if I ever did I have no idea of the debit card number?

If you have the Lloyds app you can view and manage your debit cards.
If you do have a debit card associated with the account all its details can be displayed. If you do not have a card nothing will be shown.
That's how I found out that I didn't have a debit card on the joint account I switched but did have on the sole account.

Unfortunately, I don't have the app. I just use my laptop for online banking and can only see an option for managing Direct Debits on there but nothing for Debit Cards!

Yes you are right that option only available via the app. If you have a suitable device it is easy enough to download and register to use the app.
Otherwise if you state you have no debit card, but there is one on the account, it may delay the switch.

Unfortunately I only have a very old mobile with no internet connection.

Believe it or not, I actually got an email from Lloyds (the account I wanted to switch to Nationwide) on August 16th telling me that I hadn't used my debit card for a year and that they wouldn't replace it when it expires on 31 October 2021 unless I contacted them. I immediately cut up the old one as I didn't want a new one. A couple of days later I found out about the Nationwide offer!!!

I would order a replacement debit card and this arrives in about 5 days - you can do it via online banking I think under Account Servicing or just call Lloyds.

sec79

I've just requested 2 direct debits to be set up on the current account to be transferred into Nationwide. The money will be taken on 5 and 10 September. Do I need to wait for the direct debit money to have been taken out of my account before I apply for a Nationwide account please, or can I apply for an Nationwide account now and as long as I put the switch day 30 days ahead, I will still receive the bonus?

I'm not sure if you would still receive the bonus if the offer is pulled, as long as you had requested the switch. Thank you

sparkiemalarkie

What happens to non active direct debits during the switch?
I have recently set up a direct debit for gym membership and had to pay the first month by debit card so the DD wont be active until late next month.... Will this move across to NW or will it just disappear?
 I will have 2 other DD that should become active very soon
tia
sx

soulsaver

td_007 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.

I have applied to switch a sole account in my name to a joint NW account using the link in online banking. In the switch application where is the option to say yes/no to debit card of donor account select "no" for the joint account holder. You will get a pop up saying if a debit card exists the switch will not happpen etc. - just close that box and carry on. It should work...

I'd suggest that switching a sole into a joint limits one's options: I'd open a qualifying Nationwide sole*, and switch into that, leaving the option to switch an external joint into an existing Nationwide joint as well. 

*Can be applied for in minutes and likely only a soft search, takes a few days to get an account number to target your DDs to.