News

• Nationwide customer data shows 46% drop in holiday spend compared to last year with research showing 44% have abandoned travel plans due to impact of Covid-19
• 32% will enjoy UK staycations, aiming to spend average of £480 boosting local economies
• A fifth use money saved during lockdown to treat themselves to a well-deserved break
• Analysis of Nationwide data shows spike in holiday transactions since lockdown eased

• 47,318 accounts open by end of April
• 17,901 of them saved between £50 and £100 each month between April and June
• Total prize fund £45,800 with one in 39 chance of winning
• As of 30 June, 83,806 Start to Save accounts opened – all potentially eligible for October prize draw – with nearly £16m saved in total
• 52% of accounts opened by 18-39-year-olds vs 28% for all types of savings accounts

• Nationwide Savings Index reveals evolution of saving habits under lockdown
• Savings Index includes poll of more than 10,000 people across Great Britain
• 37% have saved more during Covid-19 period, rising to 45% those aged 18-34
• Half of younger savers think their savings habits will change post Covid-19
• Nationwide’s own data shows people not dipping into savings during lockdown
• Average savings buffer people think they need for future pandemic is £12,212
• As restrictions lift, Nationwide is encouraging people to continue saving regularly

Nationwide Building Society is today announcing that it will offer members six-months free subscription to Switchd (This link will open in a new window), a company that automatically switches people’s energy supplier to ensure they are always on the best deal.

Nationwide Building Society is today launching new issues of its Fixed Rate Bonds, e-Bonds and Fixed Rate ISAs.

• A fifth go two months or more without coins or notes while half say they’ll use cash less in future
• Nationwide members made 78.5 million contactless payments between 23 March and 31 May
• Lockdown forces 27% to use mobile payments and 25% online or mobile banking for first time
• 44% of Brits worried about using cash with nearly two thirds decreasing usage since lockdown
• One in five admit to ‘money laundering’ as they clean their cash in the sink or washing machine

• Those in financial difficulty due to Covid-19 to benefit from new Home Support Package
• No Nationwide mortgage holder impacted by Covid-19 will lose home in next 12 months
• Partial or full mortgage payment breaks for people still impacted as a result of outbreak
• These additional support options to become available once current arrangements expire

Nationwide Building Society is today launching new issues of its on-sale Triple Access Online savings accounts in response to the changing market.

• Nationwide Building Society reveals lockdown spending habits via consumer poll and own data
• Nearly two thirds of Brits have changed their spending habits over the course of the lockdown
• Despite overall spending dipping in lockdown, poll shows 4 in 10 have more disposable income
• Nationwide data shows online spend has risen by 38% in the last 30 days compared to last year
• 1 in 4 impulse buying due to browsing more online, while 15% browse for an hour or more a day
• But Brits keen to give back as more than a third have donated money to charity during lockdown

• Society offers range of support measures for those who find themselves in financial difficulty
• Move part of Nationwide’s continued work to address financial wellbeing at difficult times

• 71% say high streets are vital to the community and shop there twice a week
• However, ‘sad’ and ‘bleak’ are the top words associated with high streets
• 72% judge an area based on its high streets and 62% say theirs has been neglected
• Poll calls for more butchers and bakers and fewer betting and vaping shops
• Nationwide reiterates pledge to not leave any town or city until at least May 2021

• British office workers spend £1,715, including on nights out, coffees, birthdays and charity
• Feelings of unhappiness and pressure occur when requests for money do the office rounds
• A third borrow money from colleagues with more than one in ten not paying the money back
• Eight in ten office workers socialise with colleagues; more than one in ten out 4-6 days a week