A customer was surprised to be unable to view their Nationwide account details
Nationwide Building Society has outlined some key account rules for members to remember. This clarification comes ahead of a key announcement regarding a bonus payment initiative.
A member approached the mutual with an enquiry concerning 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 person asked: “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 newly opened FlexAccount wasn’t visible.
The disappointed member 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 to note.
Please give us a call
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 member confirmed that fortunately the new account was now showing online. More than seven million Nationwide members use the mobile app.
App users can monitor their accounts and arrange payments, while also accessing their mini-statements.
Bonus payments
Nationwide members will soon discover whether they’ll receive another Fairer Share payment this year. Members have benefited from three consecutive rounds of £100 payments under the initiative, with a distribution going out in each of the last three years.
The bonus programme allows the mutual to distribute its profits amongst its members. More than four million customers collected the £100 payment last year.
Last year’s eligibility required having a qualifying current account with Nationwide, alongside either a qualifying savings account or a mortgage with the provider. The building society is expected to reveal details about the scheme when it releases its full year results, due for publication 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.” To be entitled to the previous year’s payment, specific account activity between January and March of that year was required.
