Nationwide Existing customers who switch to the Nationwide FlexDirect get £125, newbies get £100

GFMorgan

Hello ,

I wonder if anyone could please clarify a point for me.   

MSE Website clearly states: "Existing customers who switch to the Nationwide 'FlexDirect' Account get £125, newbies get £100.

I have followed this advice and switched to the 'FlexDirect' account from my existing Nationwide 'FlexAccount '  

However, after not receiving the MSE advertised £125, I contacted Nationwide and was told by Nationwide Customer Services this offer definitely does not  apply to existing customers! 

I would be grateful for your feedback on why MSE says 'Existing' Customers can benefit.

best regards

GFMorgan

Nebulous2

A switch reward is for switching a bank account from another bank to the company offering the reward. 

In the past you usually had to open a new account and switch an account from another bank into it. That's what the £100 is for. 

Nationwide is also offering a reward to existing customers - if you switch a bank account from another provider into an existing current account with them. That's what the £125 is for. 

If you think about it, why would Nationwide pay you to open a new account with them and close an existing one? That creates work for them, without giving them any more business. 

Frogletina

GFMorgan said:

Hello ,

I wonder if anyone could please clarify a point for me.   

MSE Website clearly states: "Existing customers who switch to the Nationwide 'FlexDirect' Account get £125, newbies get £100.

I have followed this advice and switched to the 'FlexDirect' account from my existing Nationwide 'FlexAccount '  

However, after not receiving the MSE advertised £125, I contacted Nationwide and was told by Nationwide Customer Services this offer definitely does not  apply to existing customers! 

I would be grateful for your feedback on why MSE says 'Existing' Customers can benefit.

best regards

GFMorgan

The information provided on MSE is correct - it says the following:

'You must also be switching from a non-Nationwide account'.

As an existing customer, with a flex account, I opened a Nationwide Flex Direct account and switched an account from the TSB into the new account and received the £125. 

PRAISETHESUN

As above, if you read the terms of the offer it clearly excludes converting between Nationwide accounts. In this context "switch" has a clearly defined meaning - you need to use the Current Account Switch Service (CASS) and transfer a non-Nationwide current account into your Nationwide current account. You can initiate a switch into a brand new account (new customer) or into a pre-existing account (existing customer) to qualify for the offer.

It's always worth getting the offer terms directly from the organisation concerned, rather than relying on a third party such as MSE who often get things wrong.

Brewer21

I switched my Nationwide Flex account account around two years ago. Had the interest too, think it was 5% then for 12 months. So I couldn't take advantage of that 2% offer again for 12 months. What I could take advantage of was I still had a savings account with Nationwide with £2 in it that I never closed. Needed an account to switch in so I used the one remaining TSB account I had left, got the £125 so happy with that.

jimjames

GFMorgan said:

However, after not receiving the MSE advertised £125, I contacted Nationwide and was told by Nationwide Customer Services this offer definitely does not  apply to existing customers! 

I would be grateful for your feedback on why MSE says 'Existing' Customers can benefit.

It definitely, 100% does apply to existing customers, I've done the switch. What it doesn't apply to is switching an existing Nationwide account to another Nationwide account. It has to be an account from elsewhere.

You can still benefit from the offer though if you haven't switched an account from elsewhere into the Flexdirect