So why did you leave Nationwide…?

A recent survey asked the banking public – those with Nationwide Building Society accounts – about how they felt their society had provided for them as customers in the past eighteen months. The response the survey received was astounding and interesting.

Many left because they were seriously fed up with the banks actions and performance over the past 18 months – so much so that many accountholders simply closed their accounts and went elsewhere. Of course the faults at Nationwide can not be laid at the door of the dedicated staff in the local branches. Instead it must be aimed squarely at those responsible – the directors who have chosen a course of action that has outraged its core membership.

In particular, Nationwide’s savers feel abandoned. Why, they want to know, did the society persist in slashing its mortgage rates at the turn of the year at the expense of savers? there was no need to remove the 2.75 per cent floor on its tracker-rate, yet it bowed to Government pressure to cut rates, rather than protecting the savers who make up the vast majority of its membership.

In my personal experience it was the smaller things that got to me; putting a stop to processing withdrawal transactions over the counter that were less than £30. I was told to use the machine outside – in the pouring rain on this particular day – because other customers had complained that small transactions kept them waiting…

So I packed up and left. It seems many of you did the same thing. It is the only way to make the directors sit up and take notice!

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