Nationwide Avoid like the plague

Milarky

To Happychappy,

You can request branch staff to move funds from e savings to flex on a form they supply. It takes one day and at least allows automated payments to be met out of the flex. At least I hope you can. If they freeze the account does that mean they won't process payments set up in advance or called by direct debit?

It is the insensitive attitude of the supervisor making up possible reasons and not giving me a definitive answer as to exactly why the account was frozen, pure supposition and guess work on her behalf does not pay the bills.

Yes, when you know they must be guessing you are torn between believing they want to help and the suspicion they couldn't be bothered. That's basic customer service (11th rule) ''don't get caught out''

I had the frustration of entering the wrong login details three time (don't know how it happened?) and not being able to regain online access for about 10-14 days earlier this year. NW didn't help me help myself initially by not displaying any kind of a warning message on screen once the problem had been triggered so after a delay of few days I called up and they told me it would take 5-7 working days to get new security details to me in the post.

Follow BLF's advice and write in to complain as the secure messaging isn't a proper service - as I've found out on several occasions.

The general problem with NW is that they are big organisation which doesn't not stitch together anymore - the traditional branch service is in decline (possibly intentionally) with more and more admin functions being taken away to faceless centres. When you have something as simple as confirmation of interest received - or the opening of certain accounts - and they just post this stuff from the branch for someone else to deal - then you know that you can't rely on a face to deal with many issues.

The online banking is generally excellent but that's because it's a computer. If you have to 'contact us' you begin to get anxious - assuming that a secure message won't get a proper reply ('cut and pasted' answered seem to be their forte) and if you phone up you will get to speak to someone but usually they can only start the process (such as sending you a form) rarely conclude it or escalate it within NW.

So good luck!

Nick_C

I think any big organisation is going to make horrendous !!!! ups from time to time, and the difference between a good company and a poor one is what they do to put things right after a mistake. Nationwide is an excellent choice if you spend money abroad, and if it was me I wouldn't leave them because of a mistake like this - it could have happened anywhere.

Makes you think though about the risk of keeping all your money with the same bank. As a contingency, if you have savings, I think its a good idea to keep a reserve fund in an Instant Access account that gives you an ATM card (such as Yorkshire BS at 6.2%).

Disasters can happen, and although all the big banks should have backup IT systems that swing into action smoothly and transparently, few systems are totally foolproof.

YorkshireBoy

I wonder if, when coupled with the 'not known at this address' issue, the "six figure sum on line which I used for various business needs" is playing any part in Nationwide's apparent delay in re-activating the account?

alanobrien

Horrendous story - especially if your trying to run a business. I had exactly the same issue with them a while back.Having been with them since day 1 of the flex account launch i had accounts mysteriously dissapear online due to the "not known at this address issue". Funny since my statements etc were getting through ok. They "fixed" the problem within a few days but i never got a satisfactory explanation of why it occurred in the first place. Good old fashioned incompetence i guess.

bristolleedsfan

neil324 wrote: »

At the end of the day they are only trying to protect your money which Nationwide do

its got absolutely nothing to do with protecting the customers money as the customers money was both password and memorable data protected.

reason for account being frozen is because customers have a commitment under the banking code to notify banks/building societies of change of name/address etc, nationwide assumed that because "one" communication had been returned to them "not at this address" that customer had not informed them of change of address.

once nationwide were informed that no change of address had taken place it should have unfrozen the account immediately.

if the original poster does complain until satisfaction is achieved hopefully two things will be achieved.

1. O/P will have any losses made good.

2 Nationwide will change its procedure so that in future they will write to the customer at the last known address informing them that a communication had been returned as "no longer at this address", pointing out the customers responsibilities under the banking code and giving say 21 days for the customer to contact a branch accordingly before the accounts are frozen.

Rafter

Remember that nationwide is a customer owned business.

If you are really annoyed at this policy then write a letter to the chairman requesting that a dedicated department is set up to try and make contact with the genuine customer before a freeze is put on all accounts.

Mind you if I got a call from my bank I'd be suspicious that it was a phishing call and would want to call them back on a trusted number!

Part of the problem is that the level of fraud and money laundering is very high now and Nationwide have probably done some analysis that suggests that in 9 out of 10 cases where statements, pins etc are returned turn out to be potential fruad or money laundering cases.

Unfortunately you were one of the 1 in 10 where the postie has messed up causing you a huge amount of inconvenience.

I think your title is inflamatory though. Nationwide are one of the best banks, don't rip customers off with hidden charges and most of the time have great customer service. You have one bad experience where they were trying to protect your money and your main gripe seems to be an unfounded allegation that it was marketing material that caused this problem and that your business (which you shouldn't really be running from a personal current account under their terms and conditions) was impacted.

R.

[Deleted User]

Its actually fairly common for banks to act in similar ways, you obviously think they are being too paranoid but other consumers believe they are not being paranoid enough.

I bank with Nationwide, my flex account and credit card for being abroad. I bank with the Bank of Scotland as my main account. I have a basic account with RBS, which has emergency funds and the account has no card so I can only withdraw in person at a branch. I have a ICESAVE savings accounts, and bonds with two offshore banks and the government. Two share dealing accounts, one with TD waterhouse and the other with BOS and a SIPP with H-L. I have a safe in my auntys house and safety deposit box with RBS that houses sovereigns, diamonds, £100 in cash (nope im not a thief lol) - this is to mitigate against a bad recession causing mob or military rule, or even a war close to home. The main point from this is I have built redudancy into the system, there is a risk that poo can hit the fan at any time and you might need a exit strategy. You need to assess all the risks and opportunitys, the occurance, how bad it is in terms of effect and probability and the mitigating actions you can take.

Having been with most banks they are all bad to varying degrees, nationwide id say is on the better side.

PS no i dont have a bomb shelter, dont take the mick please. My exit strategy on that from would be to relatives in NZ or the West indies.

ManFromBarming

Yes I suppose they was trying to look after your interests but think sometimes they get a bit carried away, 6 months back i wanted to pay a few hundred pounds into my Nationwide flex account only but had forgot my card, so like I had done years earlier asked if they could find my account from my name and address to take a cash deposit, they said for security reasons NO but I said all i want to do is pay cash IN and nothing else, she asked the supervisor and she said no sorry, cannot really complain as I forgot my card but how many people defraud someones account by paying cash in?

On the other hand I had problems with some secutity details logging into my COOP business account but they where great on the phone, they gave me a good security grilling (which is good) via 2 customer service operators but had me up and running in 10 minutes

Happychappy

Thanks for the replies

I called in at 9am this morning to a branch where fortunately the Manager was helpful and understanding. However, even if they treat this incident as an "emergency" it will be tomorrow at the earliest that I can go back online. My card has been unfrozen.

I asked exactly what it was that caused this "secuirty issue" to be told it is a common problem online and any post or mailing shots returned with an address on will start a secuirty issue. I was wrongly told by the b#tch from hell on her power trip that it would take 3-5 days it shouldnt but can do if you realise on a Thursday that your account has been frozen, it could be Monday before it is unfrozen.

I have on my personal settings within the contact details only to contact by messages or telephone, I have the box checked Do not send mail, however this clearly doesnt work.

I have also had confirmed that three DD payments were not taken, so therefore I shall now get correspondence from whoever tried to claim payment that it was refused and go through penalty payments.

I am informed I have no recourse as this "security issue" was in my interest :rolleyes: I have ticked Do not send paper documents on their online banking site and do everything online, but as this can only be a merchandising mailshot, I suffer the consequnce.

I have still not had a secure message reply on their website to my original message pointing out my accounts were missing on Sunday, nor have I recieved a reply to my online complaint secure message on Monday in accordance with their terms and conditions for complaints and with the postal strike on I cannot write to them, but I am informed by the print on the secure message centre that they have 5 days to read the messages.

I fail to see Rafters response of how the title of my post is "inflamatory" I must be living in a different world as unfortunately the checkers on the site would not allow me to put what I feel feel about Nationwide :mad: and this still rumbles on and on.

baby_boomer

I'm afraid I just chuckle every time an MSE poster, as a result of their personal experience, says

"Avoid like the plague".

It's not very logical and if we all followed the advice we'd severely restrict our investment / savings choice .

My advice for others with similar problems is to post your experience as a question rather than an absolute truth and ask if other MSErs have had similar problems, rather than jumping to universal, concrete conclusions based on limited evidence.

I'm not Nationwide's number 1 fan but I shall continue to use them.