Switch Rejected - Why?

[anonymous-user]

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[Deesee]

Id say it's an anti id theft measure.

Check the details you have given Chase (and the details that FD have vs the reference agency), could well be the details don't quite match, out of date etc..

[gotoPzero]

IIRC when we switched from Santander to Virgin last year they gave multiple warnings about it might not go through if there was even one thing slightly different in the data. Things like title, middle names, post codes etc. It had to be a 100% match. Is there a chance something is wrong maybe address is formatted wrong or something?

[Gixer968CS]

Chase being American (part of J.P. Morgan) will almost certainly have very pedantic procedures and requirements. US firms are often inflexible and and require fastidious compliance to their processes. Could be you're data somehow isn't perfectly matched across the transaction??

[journeymanpro]

anonymous said:

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Would you like a tissue?

[JayBM]

anonymous said:

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Not sure of Nationwide's t&cs but I think quite a lot of the current a count switch rewards have stipulations such as regular deposits, regular payments I.e. DDs) or a positive balance for x months.

Most are designed to stop people doing exactly what you were attempting, free cash. As the saying goes, there's no such thing as a free lunch.

[BoloH4wes]

The nationwide switch terms are here: https://www.nationwide.co.uk/current-accounts/help...

Clearly states you need to transfer 2 direct debits.

Not sure why you think any bank is going to give you free money for switching dormant accounts!

[JayBM]

anonymous said:

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Sure you're already aware but FD require £1000 of deposits in the first 3 months. They also state its a transfer of your regular current account so I'm not sure if there are more requirements in the fine print.

[Simpo Two]

anonymous said:

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Which is why I don't switch. I'm very happy with my bank, and £100 to bks everything up doesn't appeal.

[C-J]

anonymous said:

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I sucessfully switched to Nationwide in late Nov - the 2 DD requirement for the bonus was clearly in place then.

Having not bothered with bonus switching ever before, i did 8 bonus switches for my partner and I last year - including from both spare accounts and new accounts. All went through exactly to plan. Wish I'd done more previously.

[LastPoster]

Card payments (even re-occuring ones) are not direct debits

My Amazon Prime subscription for example is paid via AMEX, it's not a direct debit

[Sarnie]

EE won't show as a DD until a payment is taken.

Strava will be a reoccurring payment, Eg set to debit your card monthly, rather than a DD.

[C-J]

Keep persevering!

For regular debits having googled simple options that would 'pull' though as a DD set up a small monthly payment to a SIPP, a couple of small charity contributions - plus also actioning some PayPal top-ups.

The latter I did as extras just in case - they showed up as DDs, however I don't know if they actually count - although I certainly would have tried to argue that if it said DD then it is one!

[ferret50]

anonymous said:

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Bear in mind that most banks require a minimum 2 year break before going back.....

[alscar]

Does “ constant “ switching have any impact on credit scores or are any searches “ soft “ as such ?

[princeperch]

It'll only make a difference if you take out an overdraft.

Swapping one account for another without an overdraft won't make much if any difference to your credit score.

[Rick101]

anonymous said:

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Agree. Unless you're hard up and the relatively small amount of cash will make a difference, it's barely worth bothering.

I moved accounts a few years ago. I could easily have done it myself but as the Account switch service is strongly recommended and offers a guarantee, I used that.

Of course that cocked it up cancelling several Direct debits. Wouldn't accept responsibility blaming the recipients for not processing correctly and cancelling rather than switching....then I pointed out the recipient was their own Credit Card arm.

Went to ombudsman, took prob 2 years. Nothing, not even an apology.

[Steve Campbell]

How many hours of your time has it taken to date to enact the switches.....and what return have you got ?

[irc]

Free money is always attractive but I have no desire to leave my main First Direct account. Has anyone set up a new account with a bank with the intention of using it to switch for cash later?

Any requirements for a minimum amount to be paid in could be done from First Direct before being taken back out. Two small dds to charity would cover that aspect.

On one hand why not? On the other hand I am lazy and prefer simple as possible finances and I don't need an extra few hundred quid.

[Somebody]

irc said:

Has anyone set up a new account with a bank with the intention of using it to switch for cash later?

I opened a spare "throwaway|" current account in the Chase app and did precisely that. Easiest £200 I ever made without having to set up/redirect direct debits.