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Jason T

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Review of the Nationwide, FlexAccount:

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Something's gone very wrong at the Nationwide

I've been a customer with Nationwide for more than 20 years and over that time held considerable savings with them and a mortgage. I don't know what has happened in the last couple of years but they seriously need the regulators to take a look at their conduct and their claims to be a Building Society, I haven't had any of the so called 'fairer share' payments and it's now looking like Nationwide is now a bank - NOT a building society. They don't have the right in my eyes to abuse their position and straddle both sides of the fence. You are seemingly now expected to make them your key banker. That's wrong and misleading and goes against the idea of mutual status. Furthermore they have given the wrong impression to the public as recently ruled by ASA (Advertising Standards Authority) that they are not closing branches. Mine has closed in Tottenham which is an area that needs Building Societies close by not 'close by' in more affluent / profitable parts of London. Furthermore I put an application in to switch from HSBC to Nationwide. I had documents emailed to me relating to the switchover - but there's no trace of the application or any proper follow-through which concerns me about how they are handling information also. I've started a process of ending my business with them when it's now clear you can get much better savings rates and service elsewhere. Something has gone very wrong with this once much loved institution. People need to be aware of this. Reviewed on: 18th June 2024

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