Our Switching Service

As you'll discover, at N&P, we do everything we can to make managing your money as simple as possible. We make switching your account to us easy by doing it for you.

Simple, straightforward switching

N&P will go out of its way to make switching your current account easy for you. In fact we do most of it for you. It’s so much easier to manage your money, if all your income and payments operate from the same current account. So, N&P will sort out all the paperwork for you, help redirect your income into your new N&P Account and request that any payments you make on a regular basis also get transferred across to your new Account. N&P also feel one of the most important things is to make sure you receive a personal service and are kept informed of progress every step of the way.

How to switch

Here’s what happens when you switch

The switching team will confirm they have received your switching request and give you a named point of contact and contact number so if you do have any questions you will know who to speak to.

From start to finish switching your account usually takes around 4- 6 weeks. We do rely on your existing current account provider carrying out our request. This means sometimes your switch could be complete sooner or it may take a bit longer. We will keep you informed and let you know if we need to chase your existing current account provider for the information.

STEP 1:
You tell us what needs switching: your salary, income and any regular payments.
 
STEP 2:
We contact your existing current account provider for details of your regular payments and give you a salary / credit instruction letter for your employer (or income provider) so they can redirect your income.
 
STEP 3:
You pass the salary/credit instruction letter to your employer/income provider, or you can ask us to send this for you. We set up all your standing orders and regular payments on your new N&P Gold Current Account.
 
STEP 4:
At the appropriate time, we will send you a form to request that your old current account provider cancel all regular payments, transfer the balance and close your old account.  
 
YOUR SWITCH IS COMPLETE

You can download our switching forms here.

Please remember that all payments will continue to be taken from your existing bank / building society account until the companies and organisations that collect these payments, have acted on our request to amend their records with your new account details. Therefore, we recommend that until all Direct Debits are transferred, you hold sufficient funds on both accounts to pay any direct debits being claimed .

Fee-Free £250 overdraft for six months

When you open your N&P Gold Classic Current Account, and you use our switching service to move your account, you will normally (subject to status) get a £250 interest and fee-free overdraft for the first six months, to help ensure you won’t incur any unnecessary charges while you’re switching your Direct Debits and standing orders from your old bank or building society. If you use your overdraft beyond six months, there are charges - please ask for details.

To be eligible for the offer you must:

  1. Open a new Gold Classic Current Account 
  2. Use our dedicated switching service to transfer a minimum of 5 payment mandates (Direct Debits, standing orders or bill payments) from an account held at another building society or bank to your Gold Classic Current Account 
  3. Pay at least £500 per month on average (excluding transfers from other Norwich & Peterborough accounts), into the Gold Classic Current Account
Terms and Conditions

You must tick the box at the bottom of the “REGULAR PAYMENTS TRANSFER FORM (DD/SO)” to indicate you do not wish to accept the offer. Overdrafts are subject to status and repayable on demand. You will not be charged interest or incur the overdraft monthly fee for 6 months from the date on which the payment mandate transfer process is completed. Thereafter our standard overdraft rate of 16.58% P.A. variable (17.9% EAR variable) and the £5 monthly usage fee will apply. If you exceed your approved overdraft facility at any time, including during the offer period, you will be charged interest and an unapproved overdraft charge of £19 per month.

Representative Example (post introductory offer period)

If you overdraw on 5th March for up to the maximum of £250 for 3 months you will incur a £5 fee each month or part month you are overdrawn and incur interest at 16.58% p.a. variable. (17.95% EAR* variable). The total charge for credit is £31.28.

*EAR stands for Equivalent Annual Rate and does not take into account any additional charges which may be applicable.

Simple, straightforward switching

While your account is being switched to N&P, we make you 5 promises:

1. We promise that you’ll be supported by our ‘switching team’ who are based in Peterborough. You have direct contact to your switching team, so if you have any questions, please call 0845 122 6464 and we’ll be happy to help. We are open 8.45am to 5.15pm Monday to Friday and Saturdays, 9am to 12pm.

2. We promise to keep you up to date so you know exactly how your switch is going and are aware of where everything is at. You can choose how you wish us to contact you - by secure messaging through internet banking, letter or phone.

3. We promise to contact your employer on your behalf, if you would like us to, to arrange your salary/regular payments to go into your new account. We are happy to do this so you don’t have to.

4. We promise to contact your existing current account provider and any other organisations that you regularly pay to ensure the payments get transferred to your N&P Gold Current Account. We will also chase them regularly if we’ve not heard from them to ensure the switch to N&P is straightforward for you.

5. We promise to let you know when all your regular payments have been transferred to your new N&P Gold Current Account. This will mean your account is fully set up and you can now close your old account if you want to.

Please remember that all payments will continue to be taken from existing bank/building society until the companies and organisations that collect these payments have acted on our request to amend their records with your new account details. Therefore, we recommend that until all direct debits are transferred you hold sufficient funds on both accounts to pay any direct debits being claimed.