Nationwide Flex Regular Saver 13th payment

KTF

Do you think that Nationwide are sitting around ignoring it?

How exactly would getting someone from MSE to bother them asking 'is it fixed yet' resolve the issue any faster?

derrick

deppo wrote: »

I am in the same boat waiting on around £160 interest for nearly a week now. given this issue runs to 6 or 7 pages on the forum, perhaps Martin and his team should consider taking it up directly with Nationwide to see if a resolution can be speeded up.

I am amazed Martin or his team have not brought this as an issue being it is 4/5 days in now!

.

Vortigern

You have to sympathise with Nationwide. The sudden need to pay interest on the Flexclusive Regular Saver has caught them completely by surprise.

It's not as if they've had 12 months to prepare for this.

Nick_C

Just back from town, where it took about 3 minutes to get this sorted out in branch. (Although the teller did ask if I'd tried closing it on line!)

Pity this couldn't have been sorted out over the phone by the call centre or the complaints team, but I now have the interest - £162.05 - sitting in my FlexDirect account. The £20 compensation has also gone in, so I'm happy.

Nick_C

KTF wrote: »

Do you think that Nationwide are sitting around ignoring it?

How exactly would getting someone from MSE to bother them asking 'is it fixed yet' resolve the issue any faster?

I do get the impression that they are not giving the problem the priority it deserves. A competent programmer should have been to resolve this quickly. I wonder who they have outsourced their IT to. And if the IT is outsourced, they will probably get the compensation covered by their contractor.

david78

I am still waiting for them to contact me regarding my complaint made by secure message. Hopefully they will call tomorrow.

I think at the very least they should offer to pay 5% interest on the matured accounts until the next interest date, so if one had saved £6000 they should be paying compensation of about £25.

I must say I thought they would sort this out very quickly but obviously are not able to do so. They might just have to close accounts as people complain or wait until the 31 December. I doubt they have a "programmer" looking for a solution.

My regular savings account has also matured without interest, and I haven't mentioned that to them yet. In that case the missing interest is smaller because I got an interest payment in October.

adindas

colsten wrote: »

I agree that they can be accused of incompetence/negligence about the missing interest on the FlexClusive Regular Saver. The T&Cs, however, were very clear - interest will be paid on anniversary and/or closure of account. They failed to pay on anniversary, they failed to contact me with an apology, and they failed rectifying the issue for the last 3 working days.

This is a very important point. When the case is going spiral NW and go to press it will give them a bad name.

I do not know but they might even get fine from the authority.

adindas

I just wrote an online complain using their online form.

I received this:

"Thank you

Thank you for using this form to provide us with details of your complaint. We are sorry you remain dissatisfied and appreciate you giving us the chance to put things right.

Our promise

Our promise is to respond to your concerns within 7 days. Hopefully we will be able to tell you that the matter has been put right. If we are unable to put it right within those 7 days, we will tell you and keep you informed of progress."

Joe_Bloggs

Online (1930pm today). In my recently re-designated Flexclusive saver issue 8 it has a new row that mentions interest. This interest does not alter the original balance of £6000.00 . I will leave things as they are until they can sort things out.

Their flexible ISA features are also a bit fuzzy from the reporting of balances to members, and to the staff understanding of what these features mean.
J_B.

Rich2808

Joe_Bloggs wrote: »

Online (1930pm today). In my recently re-designated Flexclusive saver issue 8 it has a new row that mentions interest. This interest does not alter the original balance of £6000.00 . I will leave things as they are until they can sort things out.

Their flexible ISA features are also a bit fuzzy from the reporting of balances to members, and to the staff understanding of what these features mean.
J_B.

Mine has been added too finally but I think the balance including it doesn't get updated immediately.

Another quirk of their systems - the transactions are listed but the balance reflecting them can take up to a day to be updated.