New Nationwide Switch - both new and existing?

Speculator

I have two separate  Birmingham Mids DDs (from two different BM accounts) on my BOS vantage. Hopefully, this will qualify for the £125.

Shedman

BigBlueSky said:

Is the general consensus that you just need DD's setup and don't need to have actually had funds taken from them before the switch ?

I think the general view is likely to be that, until we hear back from someone that did a switch with DD's setup but not paid which won't be for a week at least, we can't be sure as to exactly how NW are interpreting 'active' DDs so to be on the safe side (at this stage anyway) it's probably best to make sure they have paid out once first before the switch date (which can be set to be up to 30 days ahead...although it might be sensible to time it so that the DDs payout a few days before the switch date as DDs tend to appear on the new account several days before the actual switch date)

adamp87

Shedman said:

BigBlueSky said:

Is the general consensus that you just need DD's setup and don't need to have actually had funds taken from them before the switch ?

I think the general view is likely to be that, until we hear back from someone that did a switch with DD's setup but not paid which won't be for a week at least, we can't be sure as to exactly how NW are interpreting 'active' DDs so to be on the safe side (at this stage anyway) it's probably best to make sure they have paid out once first before the switch date (which can be set to be up to 30 days ahead...although it might be sensible to time it so that the DDs payout a few days before the switch date as DDs tend to appear on the new account several days before the actual switch date)

Onhotukdeals it seems someone has found the answer

Hi, I just had chat with Nationwide. Agent advised that when I set up DD and first payment will be taken on 8 Sept - I can do swich only AFTER first payment has been taken, not before... I am wondering if it's true because switch takes time, and if I wait until 9 Sept - …


so a DD would need to have been active prior to switching to claim as you stated above

kaMelo

adamp87 said:

Shedman said:

BigBlueSky said:

Is the general consensus that you just need DD's setup and don't need to have actually had funds taken from them before the switch ?

I think the general view is likely to be that, until we hear back from someone that did a switch with DD's setup but not paid which won't be for a week at least, we can't be sure as to exactly how NW are interpreting 'active' DDs so to be on the safe side (at this stage anyway) it's probably best to make sure they have paid out once first before the switch date (which can be set to be up to 30 days ahead...although it might be sensible to time it so that the DDs payout a few days before the switch date as DDs tend to appear on the new account several days before the actual switch date)

Onhotukdeals it seems someone has found the answer

Hi, I just had chat with Nationwide. Agent advised that when I set up DD and first payment will be taken on 8 Sept - I can do swich only AFTER first payment has been taken, not before... I am wondering if it's true because switch takes time, and if I wait until 9 Sept - …


so a DD would need to have been active prior to switching to claim as you stated above

The information given by the Nationwide agent is correct. A payment needs to have been taken before a direct debit is "active"
Prior to that it doesn't exist as such so Nationwide would not see it. Payment taken after the switch date would be considered a new direct debit rather than a switched one.

numbercruncher

Is there a way to schedule the switch date to allow time for the direct debits to go through at least once? 

bristolleedsfan

kaMelo said:

adamp87 said:

Shedman said:

BigBlueSky said:

Is the general consensus that you just need DD's setup and don't need to have actually had funds taken from them before the switch ?

I think the general view is likely to be that, until we hear back from someone that did a switch with DD's setup but not paid which won't be for a week at least, we can't be sure as to exactly how NW are interpreting 'active' DDs so to be on the safe side (at this stage anyway) it's probably best to make sure they have paid out once first before the switch date (which can be set to be up to 30 days ahead...although it might be sensible to time it so that the DDs payout a few days before the switch date as DDs tend to appear on the new account several days before the actual switch date)

Onhotukdeals it seems someone has found the answer

Hi, I just had chat with Nationwide. Agent advised that when I set up DD and first payment will be taken on 8 Sept - I can do swich only AFTER first payment has been taken, not before... I am wondering if it's true because switch takes time, and if I wait until 9 Sept - …


so a DD would need to have been active prior to switching to claim as you stated above

The information given by the Nationwide agent is correct. A payment needs to have been taken before a direct debit is "active"
Prior to that it doesn't exist as such so Nationwide would not see it. Payment taken after the switch date would be considered a new direct debit rather than a switched one.

Direct Debits are shown as active within donor account online banking ( as opposed to inactive) as soon as they are set up

PRAISETHESUN

numbercruncher said:

Is there a way to schedule the switch date to allow time for the direct debits to go through at least once? 

You can select any date up to 30 days from today as your switch date. DDs usually take 10 working days to set up, so if you pick a date in ~2 weeks then you'll have plenty of time to get a DD set up in time.

PRAISETHESUN

Speculator said:

I have two separate  Birmingham Mids DDs (from two different BM accounts) on my BOS vantage. Hopefully, this will qualify for the £125.

BM is interesting as they set up 2x DD mandates on your linked account - 1 for "recurring" (monthly/weekly) payments and another for "one-off" payments. In theory a single linked BM savings account can be used for 2x DDs on the linked account if you're smart about it.

PRAISETHESUN

Something I noticed on the MSE page that I thought was interesting: https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#nationwideswitch

Though there's an easy trick to qualify if you don't – open a savings account with £1, then wait until the next day to request your switch. Keep the savings account open until the switch completes and, hey presto, you get the higher bribe. 

Links into the discussion earlier on about opening a current account, waiting a day then applying for a switch as an "existing" customer

BigBlueSky

Would I be able to open a new account for the switch bonus if I previously had a FlexDirect account with them ? - Closed in February of this year.  Can't work out if it is just the 2% credit interest I wouldn't be entitled to.