Nationwide £200 switch offer 23/5/24-4/7/24

pecunianonolet

gravel_2 said:

pecunianonolet said:

pfpf said:

1st joint will get the bonus even if you each had an individual incentive.
switched account does NOT need to be a joint account.

source? pretty sure T&C's but my personal experience last time around.

edit: wait for someone else to confirm as those T&C's look different to last times.

Thanks for the info, that might be another £200 we can bank. I haven't seen anything anywhere so I guess you can open the joint account first and initiate the switch after. Would need to move some DD over to the burner account first.

"If you’ve switched a sole or joint current account to us and previously benefited from a Nationwide current account switch offer since 18 August 2021, you will not qualify for this offer." - I think you're excluded.

Yes, this is what the website states but the T&C's only say that you won't qualify if

"You have used the Current Account Switch Service since 18 August 2021 and previously benefited from our current account online switch offer."

This doesn't specifically say that it includes joint accounts but could be seen just in general that it includes anything.

Poquito

Ed-1 said:

Poquito said:

FIREmenow said:

Has anyone who's had a flex direct before (sole and joint) managed to get the 5% interest rate again on a new flex direct. Previous sole accounts are closed but joint one still open.

I tried this but it doesn’t seem to have worked out for me ☺️ I had a flex direct years ago but when I recently opened one for this incentive, there’s no mention of interest within the app or the internet bank. I put £10 in once it was opened to see if this would generate anything in the app… nothing. 😄

If you only put £10 in you wouldn't get interest as you need to pay in £1,000 to get even 1%.

I’m such a donut! 😊 thanks for pointing this out @Ed-1Forgot about this! 

Poquito

FIREmenow said:

Thanks @Poquito

I'll have a look at opening the basic account, or switching into my joint account. Less faff if the interest is unlikely.

I didn’t pay in enough… min £1k. Going to do it now and I’ll update if it works… 

LightKnow

Anyone else get basic email to contact them about switch 

The email seems genuine and so Is contact number but they not explained what regarding or anything 

HHUK

LightKnow said:

Anyone else get basic email to contact them about switch 

The email seems genuine and so Is contact number but they not explained what regarding or anything 

Not me. I received an email from Nationwide yesterday advising that they'd started my current account switch and requested payment details from my old bank (Chase) and another today confirming that they've received details of my payment arrangements and that my account switch will complete on 05/06/2024.

Bigwheels1111

HHUK said:

LightKnow said:

Anyone else get basic email to contact them about switch 

The email seems genuine and so Is contact number but they not explained what regarding or anything 

Not me. I received an email from Nationwide yesterday advising that they'd started my current account switch and requested payment details from my old bank (Chase) and another today confirming that they've received details of my payment arrangements and that my account switch will complete on 05/06/2024.

Same emails here.

MQA

I am thinking of switching out my HSBC Advance account into Nationwide to get the £200 switch, is it worth opening another HSBC account, just in case, I need another acccount to use as a 'switch account' if I should open another account will their regular saver be the one? as the interest is 5% pcm, max pay in is £250 pcm and can miss payment, any withdraw the interest will drop to flexible saver 2% pcm. . I think there are better rates out there?  or just switch out to Nationwide and have no account will HSBC?

pecunianonolet

MQA said:

Some of the posts have suggested to keep one account open before switching (ie the switching out bank may not allow you to open a new account with them once switched out).

I am thinking of switching out my only account with HSBC, which is the Advance account into Nationwide to get the £200 switch, is it worth opening another HSBC account just in case? as there regular saver is 5% max pay in is £250. 

HSBC doesn't like opening new current accounts and it's not that easy either in some cases. Would leave HSBC untouched and open another burner account e.g. Metro Bank, Monzo, Chase, etc. and use that to switch. 

Poquito

MQA said:

For a burner account which of these would be the easest / quickest to open :Metro Bank, Monzo, Chase, etc. and use that to switch. as I might not get the chance to take up the £200 switch offer

I would suggest Chase as you can create multiple current accounts in one click. So you won’t have to keep ‘finding’ a burner account. Don’t do too many switches at one time though. I don’t have Monzo or Metro so can’t comment, but Chase has been great for donor accounts these last few months.

MQA

pecunianonolet said:

HSBC doesn't like opening new current accounts and it's not that easy either in some cases. Would leave HSBC untouched and open another burner account e.g. Metro Bank, Monzo, Chase, etc. and use that to switch. 

Appreciate this.  I had spoken to 2 HSBC advisers and received  different information. Summary: I was told I can open a second Advanced account, and went online and it says 'not for existing customers'..  I will try other banks.