Are Nationwide losing it?

We all know about the recent debacle in which some transactions were carried out twice, leaving some customers seriously financially embarrassed.
Fortunately, there weren't any transactions on my Flex account during the period in question, so I wasn't affected.
But I *did* have an e-saver-plus savings account which I decided to close because I needed the money. The interest rate wasn't that great anyway - 2% gross - but there was a limit on the number of withdrawals (including closure) which could be made in each account year. If you exceeded this, the interest rate would fall to 0.1% for the whole year.
Although I knew that I hadn't made too many withdrawals, and that closure wouldn't take me over the limit, I took the precaution of sending them a secure message to confirm that I would be ok. They duly confirmed that I could close without penalty. So I closed the account.
And, yes, you've guessed it! The closing interest which I received was at the 0.1% rate rather than 2% - so I got about £7.50 (net) instead of £150.
I immediately sent them a secure message asking what the hell was going on, and haven't received a reply. That was over a week ago. In the meantime, I phoned their Customer Service Department who accepted that interest should have been paid at the higher rate, and undertook to put it right. I'm still waiting!
Has anyone else had any problems with this shower?
Reply to
Roger Mills
Yes.
Despite the go-faster stripes thay paint, they're effectively just another bank, prone to the same sort of poor service as banks give.
Adrian
Reply to
anonymous
My favourite thing about Nationwide is that if you're in a foreign country with a cash flow problem and decide to dip into your ISA Nationwide will expect you to fly back to the UK and go into a branch to do it.
What other bank has such a ridiculous rule? Certainly not Halifax or Santander.
Reply to
Deux
In message , Roger Mills writes
No. The dual payments (2 of them) were corrected before I heard about it.
I never liked the e-saver account, so I didn't open one.
Reply to
Gordon H
In message , Deux writes
Al my ISA transactions are carried out online, but I have never had a cash flow problem abroad, and had no problems drawing on my Flex at ATMs.
From what I hear, Santander require about 4 different proofs of I/D before they will let you get at your money. ;-)
Reply to
Gordon H
It is not your money - it is theirs.
They *may* let you have some of their money.
Flop
Reply to
Flop
It must depend on the account. The online ISA, as its name suggests, can be managed online, you can transfer money to your flexaccount from it.
Reply to
S
wrote:
Is this something that you know Nationwide do? Why do they bar access for some people?
I've been accessing my FlexAccount and Visa card accounts via their internet banking system every few weeks from outside the UK for many years with no problem.
Chris
Reply to
Chris Blunt
wrote:
[-snip-]
Nationwide lost it years ago. I used to do lots of business with them but they made so many mistakes that I have closed most of my accounts with them.
Having said that most banks seem to make loads of mistakes.
Reply to
Mark
wrote:
Yet bankers are still included on the preferred list of people who can countersign your passport application, along with other fine upstanding members of the community such as Members of Parliament.
Chris
Reply to
Chris Blunt
No, and I think that I've accessed my accounts from overseas in the past. But I have heard of some institutions doing it - possibly as a means of stopping other people - in the Far East, etc. - from fraudulently accessing your account once they have your details from a successful phishing expedition. I only mentioned it in case Nationwide had started doing that.
If you've done so recently, as sounds as if it's still ok.
Reply to
Roger Mills
I had one with a passbook that I needed to present to make transactions. Nationwide told me they needed it to transfer money.
Reply to
Deux
wrote:
As someone who has lived in the Far East for the best part of the last 30 years I would feel a bit offended to be considered a potential fraudster just because of where I live.
Chris
Reply to
Chris Blunt


Yet bankers are still included on the preferred list of people who can countersign your passport application,
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I thought that they had stopped this and everyone how has to attend an "interview".
Either way, there's no "good character" test here. All that is being done is checking that the picture supplied is actually Mr J Smith.
tim
Reply to
tim.....
Judging by all the money laundering hoops we have to jump through when opening a new account, I rather fear that we're *all* regarded as potential fraudsters, regardless of where we live!
Obviously, there are legitimate reasons why one may need to access a UK bank account from places like the Far East. But, at the same time, many of the frequent phishing emails which I receive appear to come from China or Russia, or other faraway places!
Reply to
Roger Mills

From experience of developing e-commerce websites, most fraud seems to be initiated from Africa and the Arab countries.
Mrs Enid Bloggs of The Old Vicarage, Symington-on-Sea, isn't really going to want her expensive tat delivered to an address in Saudi Arabia, yet they keep trying and sometimes they get away with it.
Adrian
Reply to
anonymous
wrote:
Except, of course, the real fraudsters. Despite having punitive and inconvenient 'security' hoops for us all to jump through the fraudsters still manage to get away with it.
It may me think that the 'hoops' are just there for show.
Reply to
Mark

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