November 29, 2011 06:56 ET

Nationwide Protects Your Money

LONDON, UNITED KINGDOM--(Marketwire - Nov. 29, 2011) - Nationwide now has a range of measures aimed at making its current account customers' lives easier, including providing extra protection should they become an innocent victim of fraud. In the run up to Christmas many customers will be shopping online or on the high street and could potentially fall victim to fraudsters or accidentally slip into an unarranged overdraft.

Nationwide FlexAccount customers will benefit from the following measures:

Fraud Protection Guarantee - If a current account customer becomes an innocent victim of fraud, Nationwide will ensure that their money is returned to their current account immediately.

• No quibble refund if a customer makes a mistake and incurs unarranged overdraft charges - If the customer has not had charges refunded before and contacts the Society, Nationwide will refund the charges back to their account.

• Free balance and activity updates by text 1 - Customers can opt to receive monthly or weekly mini statements to help them manage their money better.

• Online tools designed in conjunction with our members, to help them manage their money better, including calendar and graphical views of customers' balances.

• 24/7 banking - whether online banking or on the phone, customers can manage their money on the move.

Customers, transferring their main current account to Nationwide's FlexAccount, will continue to benefit from its switcher promise, where if the Society does not contact all your direct debit providers within 10 days we will give you £100.

Graham Pilkington, Nationwide's director of banking, said: "Nationwide is putting in place a range of measures aimed at ensuring our customers won't be left out of pocket if they are an innocent victim of fraud.

"Our members lead busy lives and we know it's not always possible to keep a constant eye on their finances. The introduction of text alerts means that customers can feel safe in the knowledge that should they near there limit they will be notified.

"Nationwide has one of the highest levels of current account service satisfaction on the high street2 and these latest initiatives show Nationwide is really on our members' side."

Notes to editors:

1 Customer must register to receive free text alerts.
2 Source: GfK NOP Financial Research Survey (FRS), 12 months ending October 2011.
Nationwide's is a Which? recommended provider for current accounts.
Applications are required for all products. Further details of terms and conditions are available on request

About Nationwide Building Society

Nationwide is the world's largest building society as well as the second largest saving accounts provider and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards and personal loans. Nationwide has around 15 million members.

Since the credit crunch began in 2007, Nationwide has remained profitable against a very difficult economic environment. In the half year ending September 2011 Nationwide made a strong underlying profit of £172 million - up 17% from the previous year. Its strong financial performance and prudent business model means that Nationwide is included in Global Finance magazine's Top 50 Safest Banks in the World.

Nationwide has around 700 branches and customers can manage their finances in branch, on the telephone, internet and post. The Society has around 16,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

Contact Information