September 01, 2011 02:30 ET

Nationwide Tops the Which? Test of Online Banking Security

LONDON, UNITED KINGDOM--(Marketwire - Sept. 1, 2011) - Nationwide has topped the table of the latest Which? online banking security survey.

The new investigation, revealed in the September issue of Which? magazine, focuses on a number of online security areas. This includes login and logout security, the level of protection when changing address or setting up a new payee and whether free Rapport virus protection software is provided.

Pete Corrie, Nationwide's head of financial crime, said: "Coming top of the Which? test of online banking security is a testament to the work Nationwide does to protect customers who use our Internet Bank. We take the security of our members' money and personal information very seriously and have developed a very secure online bank.

"We continually strive to be one step ahead of fraudsters and earlier this year we introduced the option of using a card reader at sign-in to our Internet Bank. The card reader is generally recognised as providing the highest level of security currently available and helps provide additional security to our customers who bank online.

"In addition, Nationwide customers who bank online automatically benefit from our Internet Banking Promise. This means that if a customer ever innocently suffers any fraud while using our Internet Banking service, we will refund any money taken from their account."

About Nationwide

Nationwide Building Society is the world's largest building society and a top-three provider of mortgages and savings in the UK. It is also a major provider of current accounts, credit cards and personal loans. With around 16 million members, Nationwide has a relationship with around a quarter of the UK population.

Since the credit crunch began in 2007, Nationwide has remained profitable against a very difficult economic environment. In the year 2010/11, Nationwide made a strong underlying profit of £276 million – up 30% from the previous year. Its strong financial performances and prudent business model means that Nationwide is included in Global Finance magazine's Top 50 Safest Banks in the World.

Notes to editors:

For full details of the Which? report on online banking security, please refer to page 24-25 of the September 2011 issue.
Online banking security rated by Which?
1. Nationwide BS 69%
2. NatWest/RBS 63%
3. Barclays 62%
4. The Co-operative Bank 59%
5. HSBC 58%
6. Clydesdale Bank 56%
7. First Direct 54%
8. Lloyds TSB 54%
9. Smile 49%
10. Santander 44%
11. Halifax 38%
12. Norwich & Peterborough 35%

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