Switching to Nationwide

colsten

I find Nationwide ok-ish if you just want them for a current account, with room for improvement. For example, I am missing the secure messaging feature in their app. Or, on the "Interest and Tax Paid" page, I cannot page down to see all my accounts. I can't pay my credit card with a debit card, not in the app, and not online. I can't do a mobile cheque deposit, and I can't do it in the Post Office, either. I can't add a payee in the app without making a payment, and I need a card reader to make a first payment to a new payee, even in the app. I really can't deal with the card reader malarky any longer, as it's just so yesteryear.

I still keep an ancient FlexAccount with Nationwide, for two reasons: it's the account I have held for longest (good for credit history), and it comes with a superb travel insurance, at no charge. I used to love the Nationwide savings accounts, and their interest-paying current accounts, but sadly Nationwide have viciously slashed their interest rates across the board, in what I consider a terrible blow to longstanding customers. I still have a bit in their "Start to Save" account, in the hope that I might win £100 in one of the remaining draws. Once that offer comes to an end, my remaining money will leave Nationwide.

They appear to also have stopped cashback on my Select credit card, which I have held for many years. If I want to pay the card with a debit card, I can only do this in a long-winded phone call. So I have switched to a different cashback credit card which also lets me pay through the app if I so wish.

As far as I can see, they have been doing their utmost in recent months to get rid of non-borrowing customers.

Rich1976

We used to be with Nationwide for a long time  but then it became error after error, wait times to get through to someone on the phone became increasingly longer ( 40 minutes ) was the longest I recall and that's if you didnt get the recorded message once you had got through all the irritating menu options that the department you need only opens Monday to Friday 9 to 5.
The support provided by some of their staff was inconsistent and some things they directed you to a branch to a complete.
The reduction of all the benefits to next to nothing. 'Proud to be different' 'on your side' were their famous slogans.
In my opinion Nationwide Building Society is a bank in everything but name.
Steer clear and stick with First Direct or one of the newer providers.

Rich1976

ccdorset said:

blue.peter said:

I have two current accounts. I've got my DDs, standing orders etc split between them on a pretty arbirary, but roughly equal, basis. It's arguable whether they're both my "main" account, or neither is. One's Nationwide, the other's TSB. Anyway, my view is that Nationwide is, overall, good. It's better than TSB, Santander, Barclays and First Direct, and much better than RBS. If I wanted to limit myself to a single account, I'd be content with Nationwide.

*First Direct beats Nationwide on telephone service, but loses out elsewhere. IMO, nobody can beat First Direct on phone service.

Thanks for your reply. That’s really encouraging. I must admit I used to bank with first direct and was considering moving back to them as the customer service used to be great, but the link to HSBC really bothers me now.

First Direct has been owned by HSBC since 1992 when took over Midland Bank so why is it an issue now? Although they are part of the same group they operate as 2 separate brands so what HSBC gets into trouble over doesnt really have anything to do with FD

colsten

I forgot to mention some other unsatisfactory experiences with Nationwide, all to do with their ISA processing. One goes back several years, when I wanted to transfer-in the ISA from a failed ISA provider. Despite being listed by the FSCS as one of the ISA providers which would honour the FSCS cheque as an ISA transfer, Nationwide refused not just once, but twice to put the money into one of their instant access ISAs that I had opened specifically for the transfer. It took escalation to the highest level of Nationwide, and FSCS intervention, for them to process the money as required.

The other unsatisfactory experience was more recent,  a mid-year ISA transfer-out. They only transferred the money I deposited, without any interest. When asked where the interest was, they offered to pay it by cheque - how ridiculous is that! Firstly, I didn't want to withdraw the interest from the ISA wrapper, and secondly, I was holding 3 current accounts at the time, and they could have offered to transfer the interest into one of these. 

I got apologies and compensation in both cases but I would have much preferred if they had got things right in the first instance. 

When people say Nationwide are a mutual and more ethical than banks, I now can only muster a wry smile. To me, they are no different to other retail financial institutions. OK, may be not quite as chaotic as TSB, but then, which of them is.

Rich1976

colsten said:

I forgot to mention some other unsatisfactory experiences with Nationwide, all to do with their ISA processing. One goes back several years, when I wanted to transfer-in the ISA from a failed ISA provider. Despite being listed by the FSCS as one of the ISA providers which would honour the FSCS cheque as an ISA transfer, Nationwide refused not just once, but twice to put the money into one of their instant access ISAs that I had opened specifically for the transfer. It took escalation to the highest level of Nationwide, and FSCS intervention, for them to process the money as required.

The other unsatisfactory experience was more recent,  a mid-year ISA transfer-out. They only transferred the money I deposited, without any interest. When asked where the interest was, they offered to pay it by cheque - how ridiculous is that! Firstly, I didn't want to withdraw the interest from the ISA wrapper, and secondly, I was holding 3 current accounts at the time, and they could have offered to transfer the interest into one of these. 

I got apologies and compensation in both cases but I would have much preferred if they had got things right in the first instance. 

When people say they are a mutual and more ethical than banks, I now can only master a wry smile. To me, they are no different to other retail financial institutions. OK, may be not quite as chaotic as TSB, but then, which of them is.

Exactly so. Sheer incompetence when it came to ISA transfers, providing they hadn't lost the application.
In one year which was the last one we were with them before giving up we received  a total of £500 in compensation for about 4 separate complaints. They could also never respond to a complaint in anything less than 8 weeks even for a basic admin error they repeatedly kept getting wrong such as mis spelling a surname, failing to send out a new credit card when the previous one had expired and then claimed they would order a new one but a phone call 2 weeks later proved they had done no such thing and one on this occasion they offered further compensation because they had lost my complaint even though I had the reference number. The biggest gripes was that it was basic stuff which they kept getting wrong and I accept mistakes happen but when it takes more than one phone call or message to get them to put it right it becomes too tiresome and not worth it.

FiveMoreYears

I shall keep an eye on this thread - all this sound very interesting...

My mortgage was taken over by the Nationwide seven years ago, and they seem much better than my previous provider.

My current account is presently with the Co-Operative Bank, where I've been for well over thirty years - I've had not a single problem with the Co-Op in all that time, but in November 2020 they closed my local branch. A sign of the times I realise, but being rather old-fashioned about this sort of thing I'm wondering how I will now cope. I'm going to give myself this year to see how I cope with telephone and internet -banking, but a move to the Nationwide (who still have a branch nearby) is certainly a thought.

Dean5

I have a nationwide current account, but don't use it for day to day banking (I use RBS for cash withdrawals / credit card, and Lloyds for psuedo savings, DDs & bank transfers).
Nationwide is a good all rounder for its product range though - tend to have decent savings, credit card and mortgage offerings, and previously did a refer a friend deal on current account (paused due to covid)

colsten

Dean5 said:

Nationwide is a good all rounder for its product range though - tend to have decent savings....offerings

Decent savings? Where?

Penelopa.Pitstop

I've been with Nationwide since 2005 and never had any major issues. It's true, they mishandled ISA transfer once, somewhere around 2007-2008, so long time ago. They lost my husband's transfer and handed him a cheque after a month. I forgot about it, but reading posts here reminded me.

Otherwise, I never had any banking issues. They refunded me money under chargeback twice on my credit card. I also used their phone and travel insurance, also roadside assistance. All worked pretty well. It's not my main account, I don't have any DDs here, but used it for savings and for paying mortgage and loans. Have the second account still running 5% interested until next year.

I'm thinking of moving my DDs to Nationwide and downgrade Lloyds Club account after reading some comments about accounts being closed by Lloyds. I would keep Lloyds as backup account for cheque paying, as I have branch locally. I don't mind calling Nationwide if I want ask about something, but I avoid calling Lloyds like a plague, after unpleasant experience with uneducated person, who couldn't understand simple math. 

[Deleted User]

Grabs39 said:

I’ve moved most of my banking there last year, mainly for ethical concerns too.

The service has been great.  Online is fine, the only bug bear is that you need your card reader to set up a new payee, even within the App.  

Nationwide used to be a brilliant provider and no one could dare fault their products or customer service, however in recent years standards have skydived and it has became a woeful company in both regards especially in relation to their credit card offerings.

Trustpilot speaks for itself, it now has a comparable poor rating to the likes of HSBC and Natwest, which is a shame really as it once was a fantistic financial instiution.