Current account switch to Nationwide Flex-account , from Chase, help please

MargeryKempe

HI there,

I have wanted a Nationwide FLex accoutn for some time as I have heard that the Nationwide is fairly ethical and that they give out £100 bonuses each year (though I'm not sure if these are for savings accoutn or current accoutn I still would like one of their current accounts. I have seen the £175 incentive for switch but I don't want to switch from either of the current accounts I use day to day as I am happy with them (Starling and fd). I have a Chase accoutn that i never use. Could I switch from that or do Chase still not accept CASS? (I saw on another thread from a few years ago that someone had been unable to do CASS from Chase to firstdirect). If I can't switch Chase who would people suggest setting up a dummy account with? Also for the Nationwide switch they require you to have 2 direct debits on the account you are switching from. I saw on other threads that people suggest setting up small standing orders on the "dummy" account to and from your own existing accounts to "fake" the direct debits. Does this work or do they actually have to be direct debits rather than standing orders?

Thanks so much for your help, Marg

dumpster_fire2025

Google is your friend

https://www.chase.co.uk/gb/en/support/switching-from-chase/

If Nationwide say it needs to be DD's, it needs to be DD's.

IOWJJBTM2025

I moved to Nationwide a few years ago and have had no issues. Get the annual Big Thankyou bonus. Mine is a joint account so we got two payments of £50 - one for my wife and one for me I think. Also note that the bonus is counted as interest on your self assessment for HMRC.

I was hoping to get the £200 incentive but I had a 'one account' which did not qualify. I still moved anyway.

grumpy_codger

Chase is a good account to have and IIRC you can't open a new one after closing. It's easy to open a second account with them first and then to switch it or the old one.

PRAISETHESUN

As above, with Chase make sure you open a second account in the app before switching. If you close your one and only account with them then you can't open any more accounts and IMO they are great for using as dummy accounts for switching.

The switch incentive needs DDs to be on your dummy account. These cannot be "faked" as you put it with standing orders. Easiest way would be to move around some existing household bill DDs to your Chase account, switch to Nationwide, and the move the DDs back to your main account after the incentive is paid. Alternatively there are some cheap/free sources of DDs discussed in the thread below maintained by Bridlington1.

https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

Cryptix

I’d also recommend opening a second account with Chase for the switch. I disagree that moving existing Direct Debits is easier though - it might be quicker to transfer existing DDs than to activate new ones with the bank, but I find it a bit of a hassle to move them back and forth for each service. The simplest way I’ve found is to use services like BonusDebits to set them in one go.

Maegi

Create a new current Chase current account and add some utility / PayPal direct debits to it as needed then add the funds as required.

FlexDirect is also usually better than FlexAccount for the initial year as can you get cashback and interest but after the first year the difference is marginal plus you get full branch access with FlexAccount.

PRAISETHESUN

https://forums.moneysavingexpert.com/discussion/comment/81872528#Comment_81872528

The thought was more that existing household bills are a known quantity, you are already paying them so it doesn't cost you anything extra. DD services wich as 30p DDs, Bonus Debits (50p), etc, might be convenient to set up, but do technically eat into your switching bonus ever so slightly.

Cryptix

https://forums.moneysavingexpert.com/discussion/comment/81872661#Comment_81872661

Oh absolutely! I just prefer the small cost for the convenience, then cancel them once the bonus is bagged. If you don’t mind the admin then existing DDs are the better option.

Rob5342

https://forums.moneysavingexpert.com/discussion/comment/81872677#Comment_81872677

It doesn't have to be much admin, with I. D. Mobile for example it's just a case of going into the app and typing in the account details.

If you are used to Starling then you might be amazed at how old fashioned Nationwide are.

Indie2020

If you value your sanity and actually being able to access your money I would avoid Nationwide like the plague, check out their Trustpilot reviews and a recent Daily Express article about their service.

Additionally their app is about 30 years behind others, and their online support is dreadful.