Have Completed All Possible Bank Switches.What Next???

subjecttocontract

I don't remember ever having to get ID certified for anything, anywhere at any time.

flaneurs_lobster

subjecttocontract said:

I don't remember ever having to get ID certified for anything, anywhere at any time.

It's often because the institutions' use of "electronic" methods to ID check have been unsuccessful - basically do you have credit reference presence and is it stable - so on Electoral Register for some time, utilities showing some history and so on.

jimmynoton

WSB said:

So, looking for another little similar financial adventure.

Any ideas/suggestions please.

If you're serious about becoming a serial switcher and are keen on adventure, how about moving to another country and trying it there? Must be plenty of banks overseas that offer good incentives.

Gambler

I opened a new bank account and set up 2 genuine utilities direct debits in order to take advantage of the current Nationwide switching offer.

The first payments will not be collected until 03-Nov so am I best to wait until after then to switch?

Thanks

flaneurs_lobster

I haven't looked but the N'wide switch offer probably says the DDs must be "active". 

There's always a bit of debate as to what "active" means, with some banks not really caring as to what status the DDs are in, just existing seems to do. 

I notice, however, that Lloyds have gone further on their current switch offer and have defined "active direct debits"

What is an active direct debit

An active direct debit is one that has been paid to the originator in the last 13 months. This can be any frequency of payment: weekly, monthly, quarterly or annual. If the direct debit has been recently set up and the first payment has not been taken this is not an active direct debit.

Presumably they have done this to try and reduce the number of queries asking the same question of their CS agents (both pre- and post-switch, the latter no doubt when the offer hasn't paid out)

To be safe you would have to confirm Nationwide's requirements.

Gambler

flaneurs_lobster said:

I haven't looked but the N'wide switch offer probably says the DDs must be "active". 

There's always a bit of debate as to what "active" means, with some banks not really caring as to what status the DDs are in, just existing seems to do. 

I notice, however, that Lloyds have gone further on their current switch offer and have defined "active direct debits"

What is an active direct debit

An active direct debit is one that has been paid to the originator in the last 13 months. This can be any frequency of payment: weekly, monthly, quarterly or annual. If the direct debit has been recently set up and the first payment has not been taken this is not an active direct debit.

Presumably they have done this to try and reduce the number of queries asking the same question of their CS agents (both pre- and post-switch, the latter no doubt when the offer hasn't paid out)

To be safe you would have to confirm Nationwide's requirements.

Thanks. Nationwide does not state active.

Barclays does state active but that's fine as I'm actually going to do a full switch from my main current account so no issues there.

boingy

Gambler said:

I opened a new bank account and set up 2 genuine utilities direct debits in order to take advantage of the current Nationwide switching offer.

The first payments will not be collected until 03-Nov so am I best to wait until after then to switch?

Thanks

If they show up on the Nationwide app/website you are probably OK. Sometimes DDs don't show up until the first payment happens. But to be ultra safe just wait.

where_are_we

WBS - go for the new Santander £100 in amazon vouchers offer

WSB

where_are_we said:

WBS - go for the new Santander £100 in amazon vouchers offer

Yep, been doing that thanks.