Nationwide £100 for switching
454°Expired

Nationwide £100 for switching

66
Found 14th Sep 2015
Switch current accounts from a non-Nationwide provider for £100.

cashback conditions:

Go via links in moneysupermarket or moneysaving expert (unable to post as removed due to moderator saying the link was for an individual trader? and then when I tried again I got message saying moneysupermarket had been banned)?

only applicable to the Flex direct current account.

Current account conditions:

Pay in £1k a month;
5% interest on £2,500 for the first 12 months, 1% thereafter;
No interest on any amounts over £2,500;
No authorised overdraft fees for the first 12 months, 50p a day thereafter = £15.50 a month if overdrawn for 31 days; and
no monthly fee.

£35 quidco too, quidco.com/nat…ted
- Gentatsu

£35 quidco not available in conjunction with offer
- ikskwizituk
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66 Comments
this has been on for a long time..
Original Poster
cruisecars

this has been on for a long time..



Yes quite a few days, according to the terms of the offer it started on 11 September 2015.
Beats Santander who plan to charge 60 quid a year up from 24...thieving gits.
I've been with nationwide for donkeys years how much do you get for staying? oO
Original Poster
pennyfarthing88

I've been with nationwide for donkeys years how much do you get for … I've been with nationwide for donkeys years how much do you get for staying? oO


If you haven't received a reward from Nationwide for opening a current account, open another current account with Nationwide. Switch that account to somewhere like M&S which has no requirements for monthly pay ins, only that you set up direct debits, then after receiving the M&S reward - currently £110 in M&S vouchers via moneysaving expert - then switch back to the nationwide.

Edited by: "dealsschmeal" 14th Sep 2015
Well I'm voting this hot based on the good sound advice provided by the OP!

dealsschmeal

[quote=pennyfarthing88] ...M&S which has no requirements for monthly pay … [quote=pennyfarthing88] ...M&S which has no requirements for monthly pay ins, only that you set up direct debits, then after receiving the M&S reward - currently £110 in M&S vouchers via moneysaving expert - then switch back to the nationwide.


I opened an account online with M&S late July. Had acceptance email then had welcome pack and letter to say all set up and debit card would be with me in a few days. Couldn't switch until I had the card (according to their website) so waited. Busy life... Phoned early this month to ask where card was. After much head scratching they told me they hadn't received some forms back from me so account never set up. I ask how I have letter in front of me saying it's all set up and ready to go then? Couldn't answer that. Couldn't sort as over a month had passed so "sorry sir but you'll need to reapply". Up yours M&S you bungling incompetents.
I've been with them donkeys years, they are crap looking for another bank, a bank that does not **** their customers about, wish me luck. The bankers are still at it!
Original Poster
DominicPTS

I opened an account online with M&S late July. Had acceptance email then … I opened an account online with M&S late July. Had acceptance email then had welcome pack and letter to say all set up and debit card would be with me in a few days. Couldn't switch until I had the card (according to their website) so waited. Busy life... Phoned early this month to ask where card was. After much head scratching they told me they hadn't received some forms back from me so account never set up. I ask how I have letter in front of me saying it's all set up and ready to go then? Couldn't answer that. Couldn't sort as over a month had passed so "sorry sir but you'll need to reapply". Up yours M&S you bungling incompetents.



Oh dear, not an ideal picture of customer service. I and other members of my family timed joining M&S after they bumped the cashback up to £125 - they tend to do this every 6 months - we didn't experience the mess M&S clearly made of your application. As M&S has very few street branches and the points incentives are minimal we are all switching again, telephone and online banking isn't for everyone.
better deal using the refer a friend offer and Topcashback. You get £100 and potentially £78 from Topcashback and the friend who refers you gets £100.
Original Poster
Blackgang

I've been with them donkeys years, they are crap looking for another … I've been with them donkeys years, they are crap looking for another bank, a bank that does not **** their customers about, wish me luck. The bankers are still at it!



The Nationwide overdraft fees are quite high after the 12 month "honeymoon", and I understand that despite having an account which gives favourable overseas spending rates, they still stop people's cards when spending aboard, on the suspicious transaction basis, even after being told in advance that the account holder is going away.
Original Poster
manicmidlander

better deal using the refer a friend offer and Topcashback. You get £100 … better deal using the refer a friend offer and Topcashback. You get £100 and potentially £78 from Topcashback and the friend who refers you gets £100.



The terms of the refer a friend specify at point 11 that "This offer may not be used in conjunction with any of our other current account cash reward offers".

nationwide.co.uk/pro…ons

Having said that I've received cashback before despite the disclaimer, not with Nationwide though.

The risk is that if Nationwide choose to honour the Top Cashback payout instead of the refer a friend payouts, then there is a small difference of £20 odd pounds the applicant might lose.
Are there any rules as to how many DD's you have to have switched over to benefit from the switching cashback?
Original Poster
DominicPTS

Are there any rules as to how many DD's you have to have switched over to … Are there any rules as to how many DD's you have to have switched over to benefit from the switching cashback?



As far as I can see the direct debit requirement does not apply to the Nationwide switching offer, perhaps someone else could check for me - (I'm at work).
I think you need to switch 2 direct debits
m1chaels

Beats Santander who plan to charge 60 quid a year up from 24...thieving … Beats Santander who plan to charge 60 quid a year up from 24...thieving gits.



You do not seem a happy bunny.Even after
the rise in the monthly fee from £2 to £5 per
month if you have £20,000 in it then you can
get around £40 per month interest. This is
way better than any other current account
out there.
gluke21

You do not seem a happy bunny.Even afterthe rise in the monthly fee from … You do not seem a happy bunny.Even afterthe rise in the monthly fee from £2 to £5 permonth if you have £20,000 in it then you canget around £40 per month interest. This isway better than any other current accountout there.


Yep like we all have £20k sitting around in savings....
m1chaels

Beats Santander who plan to charge 60 quid a year up from 24...thieving … Beats Santander who plan to charge 60 quid a year up from 24...thieving gits.


Just starting to look into alternatives, if they think they can make changes like that and people arn't going to move... well more fool them.
I had this last year think the 5% ended in November and i switched straight away. Does anyone know if i can get this again with the 5% or is it a complete one off? Heard somewhere if i waited 12 months after closing i'd be seen as a new customer.
gluke21

You do not seem a happy bunny.Even afterthe rise in the monthly fee from … You do not seem a happy bunny.Even afterthe rise in the monthly fee from £2 to £5 permonth if you have £20,000 in it then you canget around £40 per month interest. This isway better than any other current accountout there.

Actually £50 per month. (Please get your facts right)
mcormack

Actually £50 per month. (Please get your facts right)



£40 if you are a basic rate taxpayer, £50 if you don't pay tax
Blackgang

I've been with them donkeys years, they are crap looking for another … I've been with them donkeys years, they are crap looking for another bank, a bank that does not **** their customers about, wish me luck. The bankers are still at it!



Really they are better than most banks !
drago773

I had this last year think the 5% ended in November and i switched … I had this last year think the 5% ended in November and i switched straight away. Does anyone know if i can get this again with the 5% or is it a complete one off? Heard somewhere if i waited 12 months after closing i'd be seen as a new customer.



You can apply for another FlexDirect account after 12 months - you don't necessarily have to be a new customer.
Santander was good while it lasted
I've got two accounts, Barclays who are utter c u next tuesdays, and santander who from Jan won't be as good as they used to be (thank you, EU t0ssers)
I just went in to my Nationwide and said can I swap my Nationwide account to another one and they give me £100. They looked at me as if I was really thick and dumb. Last time I try and do myself any favours.
rodman

Santander was good while it lasted



True story, got cashback+interest and all that for the 2 years amounting to just over £360, :-)
time to move onto a new bank me thinks, wonder what to do about Santander 123 Credit Card, any suggestions on credit card?
Based on my experience I would avoid them at all cost. 2 months since I've applied for a FlexDirect account with them and still don't have access to the account. Already raised 3 complaints, their customer service is terrible and they don't seem to care about it at all.
Original Poster
fishmaster

I just went in to my Nationwide and said can I swap my Nationwide account … I just went in to my Nationwide and said can I swap my Nationwide account to another one and they give me £100. They looked at me as if I was really thick and dumb. Last time I try and do myself any favours.



Ignorant Nationwide customer services, there's nothing dumb about your question. What they customer assistant should have done is give you guidance on how to get the £100.

You can't use an existing account, but if you open another current account, switch that one to a different bank, and then switch back to Nationwide you will qualify for the bonus. I'm assuming you didn't open your existing account on the back of a cashback incentive?
Does anybody know if this is nationwide?
Whilst Santander's fee increase is a kick in the balls, it's still a decent rate - especially considering the BoE base rate being at 0.5% for many years. You're effectively still looking at over 2.5% and that's not taking into account any cashback from Direct Debit payments.

You can earn far more interest if you're pro-active (and with no risk to your capital) via the following accounts:

1. First Direct Regular Saver - 6% on average balance of £1800.
2. HSBC Regular Saver - 6% on average balance of £1500.
3. M&S Bank Regular Saver - 6% on average balance of £1500.
4.TSB Classic Plus - 5% on up to £2000.
5. TSB Monthly Saver - 5% on average balance of £1500.
6. Nationwide FlexDirect - 5% on up to £2500.
7. Lloyds Club - 4% on up to £5000.
8. Lloyds Club Monthly Saver - 4% on average balance of £2400.
9. Tesco Bank - 3% on up to £3000.
10. Bank of Scotland Vantage - 3% on up to £5000.

Santander would then be the next best option. Of course, if you want hassle-free then it's the easiest option, but not necessarily the most lucrative.

There are also several local building societies that offer regular savers with interest rates between 3-4% and their service can be excellent.
dealsschmeal

Ignorant Nationwide customer services, there's nothing dumb about your … Ignorant Nationwide customer services, there's nothing dumb about your question. What they customer assistant should have done is give you guidance on how to get the £100.You can't use an existing account, but if you open another current account, switch that one to a different bank, and then switch back to Nationwide you will qualify for the bonus. I'm assuming you didn't open your existing account on the back of a cashback incentive?



You can use an existing Nationwide account as long as you haven't used their switching service in the past.

Edit - just to add that the above is applicable for the Refer a Friend option where you can get £100 each plus cashback via TCB/Quidco. Just noticed that this offer is new and states that you have to open a new account to get the £100.
Edited by: "karlie88" 15th Sep 2015
karlie88

You can use an existing Nationwide account as long as you haven't used … You can use an existing Nationwide account as long as you haven't used their switching service in the past.



Haha I'm going back to my local branch now.
sam3110

Does anybody know if this is nationwide?




Edited by: "bawbagg" 15th Sep 2015
Fantastic deal from what I can see! Move an old account with £1 in it to Nationwide get £100 back! No brainer as long as you dont do this too much affecting your credit rating as was posted on a previous thread!
gluke21

You do not seem a happy bunny.Even afterthe rise in the monthly fee from … You do not seem a happy bunny.Even afterthe rise in the monthly fee from £2 to £5 permonth if you have £20,000 in it then you canget around £40 per month interest. This isway better than any other current accountout there.


It will mean 108 quid a year that currently.comes to me will go to Santander...should I be happy?
TheMev

Just starting to look into alternatives, if they think they can make … Just starting to look into alternatives, if they think they can make changes like that and people arn't going to move... well more fool them.



When does it kick in please? Will it be effective for new customers or existing as well?
Budden

When does it kick in please? Will it be effective for new customers or … When does it kick in please? Will it be effective for new customers or existing as well?



January and for everyone

Edited by: "rhiddahal" 15th Sep 2015
Nationwide seem stuck in the dark ages. I've got a credit card with them (used for a 0% balance transfer offer) and my monthly statement notification arrives by email, telling me "Your Credit Card statement for account ending **** has been sent to your Internet Bank" ... worded like a true silver surfer generation message
m1chaels

Beats Santander who plan to charge 60 quid a year up from 24...thieving … Beats Santander who plan to charge 60 quid a year up from 24...thieving gits.



glad ya said this as was gonna open a joint account for bills for santander
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