Nationwide Building Society

Chrannie

Are our savings safe in Nationwide UK after the massive problems facing Nationwide Ireland?

Jonbvn

They are not connected (AFAIK). Nationwide in the UK is one of the last remaining mutual societies, so I believe it is not at risk.

Hungerdunger

I hadn't heard of this until I read this thread. Just to confuse things there is Nationwide UK (Ireland), which is part of the Nationwide BS, but the troubled Society appears to be the Irish Nationwide Building Society, which has nothing to do with it.

Story here.

Fedz

No they're not related. INBS (Irish Nationwide Building Society) is mainly Southern Ireland but, does have branches in N. Ireland & UK - easily confused & confusing

Moneysavr

Hi Chrannie Yes, Nationwide UK is completely separate from Irish Nationwide Building Society (which is the one that got into trouble) - see The Irish Times articles from march about Irish Nationwide (i am not allowed to put in links but you can search on google)

As part of the UK nationwide Building Society, Nationwide UK (ireland) is under their savings guarantee scheme so your money is protected and the organisation was named as one of the safest banks in the world in Global Finances Best Banks study last month. Their site says it is named as a top 50 - see the link on their home page.

See The Post's article from Sunday (in the business post section) on Irish 'branches' on British Banks in Ireland and the amount of money that can be safely invested will be going up from Euro 60K (£50K) to 100K for Northern Rock, Nationwide UK IReland and Leeds BS. Irish banks are already covered under the 100K Irish deposit guarantee scheme. Halifax, Rabobank and Ulster Bank are already covered to that level.