Nationwide switch warning instore?

WillPS

Hoenir said:

WillPS said:

Open a complaint. Include in the complaint that you tried to resolve in branch and were misinformed in branch, as there is no terms that match the staff member's claims.

Drawing further attention? 

Missed that detail. Yes, don't complain if you know you're not entitled by the terms!

boingy

Here's the thing. They don't care. They run a switching promotion knowing that some people will just do it for the money then either switch away or leave the new account empty and dormant. In the meantime the promotion gets them on the front pages and in the weekly newsletters of sites like MSE and some of the new customers will stay. 

They'll only start caring when they notice you opening several accounts in quick succession as feeder accounts for offers at other banks. Even then you have to go some to annoy them enough that they will do something about it. Enjoy the free money and be sure to keep notes about what you do because in 3-4 years time you'll be able to do some of it again. I earned 2k in 2023 from switching, probably a couple of hours work in total. Roll on 2027-ish. 

Rob5342

Id imagine that the number of serial switchers is low enough thst they don't have e to worry about it. Most people I know trest switching bank accounts as a huge event that they have to think very carefully about and only do once in a blue moon. 

gsmh

Yes, l suppose  it does go against the spirit, but  they do offer these bribes to people and people  being people. 

Speak for yourself! I open an account with a bank I want to use and move everything over either using CASS or manually - salary, pensions, direct debits etc.. If there's a switching bonus it's a nice little extra and I feel morally just taking advantage of it. If the account isn't what I thought it was, I will instigate another switch elsewhere - but never because of an incentive. The money is quickly spent and the bank account remains, hopefully as a long term financial relationship.

[Deleted User]

boingy said:

Here's the thing. They don't care. They run a switching promotion knowing that some people will just do it for the money then either switch away or leave the new account empty and dormant. In the meantime the promotion gets them on the front pages and in the weekly newsletters of sites like MSE and some of the new customers will stay. 

They'll only start caring when they notice you opening several accounts in quick succession as feeder accounts for offers at other banks. Even then you have to go some to annoy them enough that they will do something about it. Enjoy the free money and be sure to keep notes about what you do because in 3-4 years time you'll be able to do some of it again. I earned 2k in 2023 from switching, probably a couple of hours work in total. Roll on 2027-ish. 

Thank you.

[Deleted User]

Rob5342 said:

Id imagine that the number of serial switchers is low enough thst they don't have e to worry about it. Most people I know trest switching bank accounts as a huge event that they have to think very carefully about and only do once in a blue moon. 

Well l never knew switching  was a thing until l started looking on MSE and this forum.
3 so so far.

[Deleted User]

gsmh said:

Yes, l suppose  it does go against the spirit, but  they do offer these bribes to people and people  being people. 

Speak for yourself! I open an account with a bank I want to use and move everything over either using CASS or manually - salary, pensions, direct debits etc.. If there's a switching bonus it's a nice little extra and I feel morally just taking advantage of it. If the account isn't what I thought it was, I will instigate another switch elsewhere - but never because of an incentive. The money is quickly spent and the bank account remains, hopefully as a long term financial relationship.

Thank you for your reply.

Nasqueron

Rob5342 said:

Id imagine that the number of serial switchers is low enough thst they don't have e to worry about it. Most people I know trest switching bank accounts as a huge event that they have to think very carefully about and only do once in a blue moon. 

The number of people who switched at all is relatively small - since launch in 2013 to March 2024 they have done 10.6m total, Q1 2024 it was 320,364. Now think of how many of those will be MSE types doing multiple switches