New Nationwide Switch - both new and existing?

Scrounger

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. 

Maybe I got lucky and 'slipped through the net'. 

Actually, I was fairly sure all along that sole to joint would be OK (and Ghostcrawler later clarified this to be the case with Nationwide CS).

Scrounger

CRISPIANNE3

I am due to complete switch on 8 September. The direct debits were all transferred two days ago. Both banks showing the same direct debits now. My question is as the switch is not complete yet will the direct debits be claimed from the old account or from the new account. I have two being claimed for payment on 6 September.

Scrounger

DD's due before (or on) the switch date will be taken from the old account.

Scrounger

newbiebie

Ghostcrawler said:

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. 

I would give an axample for easy explanation:

I am current Nationwide FlexiDirect current account, I close my HSBC current account and switch to Nationwide FlexiDirect account with 2 active direct debit and applied via online internet banking and switch within 30 days. I should be eligible for the £125 switch bonus.

My partner also have the similar case as me above and he should be eligible for £125 switch bonus.

Next week, I open new Nationwide FlexAccount joint account with my partner. And, if I close my joint Metro Bank current account with my same partner and switch to my joint Nationwide FlexiDirect current account with 2 active direct debit, apply online and switch within 30 days. Am I still eligible for another £125 switch bonus?

kaMelo

CRISPIANNE3 said:

I am due to complete switch on 8 September. The direct debits were all transferred two days ago. Both banks showing the same direct debits now. My question is as the switch is not complete yet will the direct debits be claimed from the old account or from the new account. I have two being claimed for payment on 6 September.

If my memory serves me correctly (and it's not what it once was) whilst a switch is under way DD's, SO's etc will always be taken from the old account up to the point the new bank declares the switch "complete"  at that point any DD's or SO will come from the new account. 
Declaring the switch complete is like a line drawn in the sand to prevent any double dipping (once from each account) or indeed no dipping.

miller

SDMN2020 said:

Applied and requested switch to brand new flex direct account on 19th August. Read all the Ts&Cs, my account which be switched from Halifax had two direct debits. Home Insurance and Bank loan(Lloyds). Received Text on 20th August explaining my switch is in progress and will receive a text to state if I am eligible for the switching offer when the account has opened and switch into. 31st August Switch complete. Received a text today saying I am not eligible for the switching offer. Phoned nationwide customer service, the agent explained there is nothing showing why I am not eligible for the switching offer. All the agent could do is lodge a complaint and it will get investigated. Sounds like some jiggery pokery to me.

I have slipped through the net as well. Switch completed 27/08, following that I get 2 text messages saying that they'll be in touch about the offer when the switch completes - which it already has. Sent them a secure message as the bonus is due on Monday. If nothing appears I'll up it to a complaint.

soulsaver

Scrounger 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. 

Maybe I got lucky and 'slipped through the net'. 

Actually, I was fairly sure all along that sole to joint would be OK (and Ghostcrawler later clarified this to be the case with Nationwide CS).

Scrounger

 A sole to joint is not ruled out by the terms, except if you've already switched sole to sole*  as it would then be the 2nd sole you've used, failing clause 4 in the terms. 

steveksullivan

Damn ! Thanks for pointing this out - I only casually read the Ts and Cs and (wrongly) assumed that 'joint' referred to the account being switched INTO. (We've both done sole account switches)

Stiil very early in the switch so will close the new joint account and cancel switch and start again with a joint account - hopefully I'll get accepted a second time for the new account!

alph

done the switch process today from Tesco to Nationwide.  Chose a completion date of 20 Sept.    Hope I get the 125 pounds     will report back my experience on here  

Scrounger

steveksullivan said:

Still very early in the switch so will close the new joint account and cancel switch and start again with a joint account - hopefully I'll get accepted a second time for the new account!

Surely you don't need to close the new Nationwide joint account - why not just cancel the current switch and replace it with a joint donor?

Or just chance it - you might get lucky.

Scrounger