New Nationwide Switch - both new and existing?

alandaniel132

Ghostcrawler said:

alandaniel132 said:

Scrounger said:

Three switch bonus payments received today in the Scrounger household.

(2 x sole to sole + 1 x sole to joint; switch date was 1st September)

Nice start to the weekend. 

Scrounger

Can I switch 2 accounts (Halifax and Metro Bank) to Nationwide current account, and get £125 * 2 = £250.00 ?

no both cannot be your sole accounts, what Scrounger meant is referring to his/her household i.e. other half sole account making 2 sole accounts per household, you can do one sole to sole and one sole to joint or one joint to joint.  Joint should have same names and should also match.  if you have other half then can do sole to sole for that person as well.

Complicated.

How about.

A person, B person (both are partners)

A sole NW current account, close A sole Halifax and switch to A sole NW with 2 DD: £125.00
B sole NW current account, close B sole Halifax and switch to B sole NW with 2 DD: £125.00

A and B open NW joint current account now, and open Metro Bank joint account, switch to NW joint current account, can get £125.00?

Ghostcrawler

alandaniel132 said:

Ghostcrawler said:

alandaniel132 said:

Scrounger said:

Three switch bonus payments received today in the Scrounger household.

(2 x sole to sole + 1 x sole to joint; switch date was 1st September)

Nice start to the weekend. 

Scrounger

Can I switch 2 accounts (Halifax and Metro Bank) to Nationwide current account, and get £125 * 2 = £250.00 ?

no both cannot be your sole accounts, what Scrounger meant is referring to his/her household i.e. other half sole account making 2 sole accounts per household, you can do one sole to sole and one sole to joint or one joint to joint.  Joint should have same names and should also match.  if you have other half then can do sole to sole for that person as well.

Complicated.

How about.

A person, B person (both are partners)

A sole NW current account, close A sole Halifax and switch to A sole NW with 2 DD: £125.00
B sole NW current account, close B sole Halifax and switch to B sole NW with 2 DD: £125.00

A and B open NW joint current account now, and open Metro Bank joint account, switch to NW joint current account, can get £125.00?

A - right

B - right

A and B - correct but not sure if opening joint account now will work, may be it will if someone else can confirm.  I already have a joint account with them before this offer was introduced, so no brainer for me. Either someone will confirm or check with NW.

Also Sole to Joint also works as I also confirmed this few pages back and now Scrounger also confirmed, just ensure sole account holder is also on joint account.

Scrounger

@alandaniel132, why don't you keep it simple and just get one switch under your belt.

On mse, we've been doing these sorts of things for years.


Scrounger

soulsaver

Assuming Scrounger's post to be complete & accurate, solo to joint in these circumstances is a loophole which may get closed or clawed back.
According to the terms you only get bonus on your first solo switch. 

Zanderman

Scrounger said:

@alandaniel132, why don't you keep it simple and just get one switch under your belt.

On mse, we've been doing these sorts of things for years.


Scrounger

Well alandaniel's been on here for years too!  And knows a thing or two, he just wants a bit of guidance now and then.

Zanderman

soulsaver said:

Assuming Scrounger's post to be complete & accurate, solo to joint in these circumstances is a loophole which may get closed or clawed back.
According to the terms you only get bonus on your first solo switch. 

Where does it say that?

The key term is surely clause 4 which says:

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.

The info ghostcrawler posted is useful in this context:

https://forums.moneysavingexpert.com/discussion/comment/78550312#Comment_78550312

soulsaver

Zanderman said:

soulsaver said:

Assuming Scrounger's post to be complete & accurate, solo to joint in these circumstances is a loophole which may get closed or clawed back.
According to the terms you only get bonus on your first solo switch. 

Where does it say that?

The key term is surely clause 4 which says:

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.

The info ghostcrawler posted is useful in this context:

https://forums.moneysavingexpert.com/discussion/comment/78550312#Comment_78550312

From your quote:
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.

The circumstances Scrounger described would make one of the switches a 2nd solo switch, which is not the same as what Ghostcrawler posted.

alandaniel132

Ghostcrawler said:

ok, so this might answer lot of your questions.  I called them and got it clarified.

1. So you will get the bonus for each type i.e. Sole + Joint. So if you are taking advantage of this offer with your wife then you will get £125 three times - £125 *2 by switching your Sole accounts + £125 *1 by switching your Joint account that you have with wife.

2. In addition to above, if you are thinking which type of account can be switched to your Joint account then Sole account can be switched to your Joint account, NW accepts this.  And that donor Sole account can be of anyone either you or your wife, doesnt matter.  But if you are switching your Joint account then the names should match and only those 2 names should be on your Joint as well.

3. Direct Debits have to be active and the active definition is at least one payment must have been paid from your donor account.  It's ok if DD is taken Yearly or Half-Yearly (like Water or Sewage, at least in my case) but should have made payment before. So pls ensure you have made 1 payment from your donor account before switch goes through .

4. There is no end date currently on this offer, I am told it will be a long running offer for now. So we all have time, no need to get ahead of time i.e set up DD and also select the switching date!!!  You can wait for everything to be ready and then start your switch.

thanks to @noh who read the terms correctly and was sure about it :-)

I am confused which stated in point numbered 1.
How do you manage to get£125 three times?

eskbanker

alandaniel132 said:

Ghostcrawler said:

ok, so this might answer lot of your questions.  I called them and got it clarified.

1. So you will get the bonus for each type i.e. Sole + Joint. So if you are taking advantage of this offer with your wife then you will get £125 three times - £125 *2 by switching your Sole accounts + £125 *1 by switching your Joint account that you have with wife.

I am confused which stated in point numbered 1.
How do you manage to get£125 three times?

It's effectively answering 'yes' to your earlier question:

alandaniel132 said:

How about.

A person, B person (both are partners)

A sole NW current account, close A sole Halifax and switch to A sole NW with 2 DD: £125.00
B sole NW current account, close B sole Halifax and switch to B sole NW with 2 DD: £125.00

A and B open NW joint current account now, and open Metro Bank joint account, switch to NW joint current account, can get £125.00?

Ghostcrawler

alandaniel132 said:

Ghostcrawler said:

ok, so this might answer lot of your questions.  I called them and got it clarified.

1. So you will get the bonus for each type i.e. Sole + Joint. So if you are taking advantage of this offer with your wife then you will get £125 three times - £125 *2 by switching your Sole accounts + £125 *1 by switching your Joint account that you have with wife.

2. In addition to above, if you are thinking which type of account can be switched to your Joint account then Sole account can be switched to your Joint account, NW accepts this.  And that donor Sole account can be of anyone either you or your wife, doesnt matter.  But if you are switching your Joint account then the names should match and only those 2 names should be on your Joint as well.

3. Direct Debits have to be active and the active definition is at least one payment must have been paid from your donor account.  It's ok if DD is taken Yearly or Half-Yearly (like Water or Sewage, at least in my case) but should have made payment before. So pls ensure you have made 1 payment from your donor account before switch goes through .

4. There is no end date currently on this offer, I am told it will be a long running offer for now. So we all have time, no need to get ahead of time i.e set up DD and also select the switching date!!!  You can wait for everything to be ready and then start your switch.

thanks to @noh who read the terms correctly and was sure about it :-)

I am confused which stated in point numbered 1.
How do you manage to get£125 three times?

if you dont have an other half but have joint with NW with someone in your family - then you can benefit £125 (sole to sole) + £125 (sole to joint), here you need to have joint with NW and the other person who is joint holder with you cannot benefit again from this joint account

if you dont have other half & dont have joint - then you can benefit only £125 (sole to sole).  **Disclaimer - not suggesting you to have joint with someone just for the bonus.  Please be aware of risk you carry by having joint account.**

if you have other half and have joint with NW and joint holder is your other half - then you can benefit £125 (sole to sole) + £125 (your other half's sole to sole) + £125 (either joint to joint - names should be the same on both the accounts and can only be eligible once OR sole to joint - ensure sole account holder name is also on the joint account - in this case i.e. sole to joint, Scrounger confirmed and when I called NW they also confirmed but you never know, so its advisable to do joint to joint if you want to be on safer side).

In this case you can first do your's and other half's sole to sole and get £250 in total.  Then get ready your both the joint accounts and switch, we have plenty of time as they havent disclosed the end date.

I can't be as clearer than this.  Hope this helps.