A customer was surprised to be unable to view their Nationwide account details
Nationwide Building Society has outlined some key account regulations for customers to keep in mind. The update comes as the provider is soon to announce details about a bonus payment scheme.
A customer approached the provider with an enquiry about their FlexAccount current account. Nationwide offers a standard FlexAccount current account, alongside FlexPlus, which includes additional benefits such as travel insurance and mobile phone cover. The individual enquired: “how long does it take a new FlexAccount I opened to appear in the iOS app?” They explained they already held a savings account with Nationwide but their new FlexAccount wasn’t displaying.
The frustrated customer said: “Thought in digital age it would be pretty quick for the new account to appear in the app.” Nationwide replied to clarify the standard procedures that apply.
Nationwide responds
The society said: “New accounts can take up to five working days to appear online. If it is not showing alongside your savings account after this time, please give us a call on 03457 302011 or pop into your local branch with ID, so we can look into this further.”
Posting again the following day, the customer confirmed that fortunately the new account was now visible online. Over seven million Nationwide customers use the app.
Through the app, you can check your accounts and make payments, while also accessing your mini-statements.
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Bonus payments
Nationwide members will soon find out whether they’ll be receiving another Fairer Share payment this year. Members have benefited from three rounds of £100 payments through the scheme, with a payment in each of the past three years.
This bonus initiative sees the mutual distribute its profits amongst members. More than four million customers received the £100 payment last year.
To qualify for last year’s payment, you needed to hold a qualifying current account with Nationwide, along with either a qualifying savings account or a mortgage with them. To be entitled to the previous year’s payment, you needed to have specific account activity between January and March of that year.
The building society is expected to announce details about the scheme as part of its full year results, which are released in May.
A Nationwide spokesperson said: “Nationwide aims to make a Fairer Share payment again this year, subject to financial performance and Board approval. Any announcement, including eligibility criteria and amount, will be made on 21 May at Nationwide’s end‐of‐year financial results.”
Rachel Springall, finance expert at Moneyfactscompare.co.uk, said: “Nationwide have consistently offered the Fairer Share payment over the past three years, and they hope to do it again. However, it is all down to the performance of the mutual, so this is what members need to be aware of this year.
“It is also important that members check if they meet the terms to be eligible for the payment moving forward.”
