New Nationwide Switch - both new and existing?

[Deleted User]

soulsaver said:

Deleted User 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).

An active Direct Debit (D/D) is simply one that has an active/live mandate on the account.

Nationwide staff have obviously been over cautious (verbally) as a paid D/D would require a active/live mandate. Otherwise, they will get people initiating a switch after instructing a D/D but prior to the D/D mandate actually going live and causing them fail the T&C inadvertently.

And an active live/mandate is simply identified by...what?

It's displays on the list of active direct debits - it's it not listed or in a cancelled section is not active/live.

Mosler

Iand1 said:

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..... 

Are you doing 3 switches, 1 joint and 2 sole accounts?

Ghostcrawler

Any quick joint accounts that can be opened online?

masonic

sec79 said:

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?

Providing the DDs are listed at the source bank before day 1 of the switch, then they should be transferred as part of the switch and meet the criteria. If you want them to have paid before day 1 of the switch, then what you suggest should be ok. Nothing happens with the switch until 7 working days before the switch date.

sec79 said:

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

If you have already requested a switch at the time the offer is pulled then it would be unlikely and very unreasonable of them to exclude you if you meet all of the other conditions (switching within 30 days etc).

sparkiemalarkie said:

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

Non-active DDs won't be switched - they never are. But if the gym has processed the instruction already it may be active by now. Can you see it in your list of active DDs in online banking?

Ghostcrawler said:

Any quick joint accounts that can be opened online?

The quickest option is often an additional account somewhere you already bank. This may also avoid a credit search.

Lightning360

How long does it take Direct Debits with Starling Bank to be set up? I've set up £1 direct debits for Unicef and Amnesty International.

Zanderman

Lightning360 said:

How long does it take Direct Debits with Starling Bank to be set up? I've set up £1 direct debits for Unicef and Amnesty International.

The time to set up a DD is roughly the same for all banks, a few days at least for the instruction to be communicated to the bank and another few days for the instruction to be acted on, sometimes much more if the DD is set for a specific monthly date that's a while off.. So allow at least 5-7 days, maybe more.

You should see the DDs listed on the app once the first stage is done, so you can, at that point, be (fairly) confident they're going to work.  And start to organise the switch to Nwide.

You don't have to wait until the first DD payments are taken to set up the switch instruction to Nwide but you might want to delay the switch date until after the DDs actually pay out.  Opinions vary on this, but you've nothing to lose by setting a switch date a couple of weeks ahead.   

Saria

Can anyone recommend an easy to set up current account which I can then use to switch? I already have a Lloyds and RBS account which I intend to keep, so looking for something that is quick to set up (and quick to set up 2 DDs as well).
I am unemployed at the moment and not receiving any income/benefits, so worried this might affect what accounts I can open?

crumpet_man

Open a classic current account with Lloyds as you are already with them.

masonic

Saria said:

Can anyone recommend an easy to set up current account which I can then use to switch? I already have a Lloyds and RBS account which I intend to keep, so looking for something that is quick to set up (and quick to set up 2 DDs as well).
I am unemployed at the moment and not receiving any income/benefits, so worried this might affect what accounts I can open?

Another Lloyds account would probably fit the bill. Lloyds only credit checked me when I opened my first account with them for what that's worth.

Saria

crumpet_man said:

Open a classic current account with Lloyds as you are already with them.

masonic said:

Saria said:

Can anyone recommend an easy to set up current account which I can then use to switch? I already have a Lloyds and RBS account which I intend to keep, so looking for something that is quick to set up (and quick to set up 2 DDs as well).
I am unemployed at the moment and not receiving any income/benefits, so worried this might affect what accounts I can open?

Another Lloyds account would probably fit the bill. Lloyds only credit checked me when I opened my first account with them for what that's worth.

Ah thanks, I wasn't aware I could open another current account with them (or any bank for that matter)!
All set up now, will add some charity Direct Debits and then look at getting a switch going. Thanks!