News

• £125 cash reward for existing members who switch their current account to the Society
• New members to the Society from another provider receive £100 reward
• Launch of Flex Instant Saver – new account exclusively for current account members
• Instant access account pays competitive 0.35%

• More than half of Brits plan to attend at least one big event post-lockdown, poll shows
• Average person to spend £65 each on tickets, plus additional £103 on other expenses
• Nearly eight in 10 buy tickets online, but two-thirds worry about risk of online fraud
• Stronger security measures for cards requires customers to keep contact details up-to-date
• Former footballer Teddy Sheringham comments about fans wanting to get back into stadiums

• Member Prize Draw runs monthly for a year with members sharing £1m in each draw
• 8,008 chances to win each month with a top prize of £100k, 2 x £25k, 5 x £10k and 8,000 x £100
• Eligible members with a Nationwide mortgage, savings or current account automatically entered
• First draw takes place in September, although members can simply opt out if they wish to
• Nationwide’s latest offering showcases benefits of a building society by rewarding membership
• Member Prize Draw builds on success of Nationwide’s recent savings-focused prize draws

• Seven in ten undergraduates fear they won’t be able to get part-time work due to Covid
• More than half say they will be left with more debt if they can’t find work at university
• 38% expect to spend less this year as a result of the impact Covid will have on them
• New financial concern this year as 40% admit they don’t know how they’d pay Covid fines
• Nationwide FlexStudent rated one of the UK’s best student current accounts for 2020

• Temporary reduction in overdraft interest rate from 39.9% APR to 18.9% APR
• Overdraft interest holiday available on request on full overdraft balance
• Comprehensive online resource provides details of coronavirus support available

• Majority of savings accounts will see rates reduced by less than 0.65% Bank Rate cut
• Popular Triple Access Online ISA and Saver accounts remain on-sale, offering 1.00%
• Start to Save remains unchanged, encouraging those with no savings to start habit
• FlexDirect interest rate reduced to 2% as a direct result of ultra-low interest rates
• Existing FlexDirect holders within 12-month initial period still receive 5% introductory rate
• Recommend a Friend incentive paused as Society focuses efforts on coronavirus support

• Comprehensive online resource provides payment breaks during coronavirus outbreak
• Credit cards, loans, overdrafts as well as residential and Buy-to-Let mortgages included
• Nationwide emphasises need to support people in the simplest way at an unprecedented time
• Society urges people to go online in order to free up phone lines for elderly and vulnerable

U K Insurance Limited, which underwrites Nationwide Building Society’s travel insurance, has confirmed that all trips booked on or from 12am, Wednesday 18 March, will not be covered for cancellation costs or any element of the trip where the cause of the claim is related to coronavirus.

• 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

• People spend an average of £725 at Xmas on presents, preparations and workplace festivities
• But more than a third don’t budget at all, while 81 per cent of those who do overspend
• Nearly one in five admitted to struggling last Christmas, with one in 20 left in significant debt

• Nationwide members predicted to collectively spend over £125,000 a minute on Black Friday
• Mobile Bank logins up a 20 per cent compared to regular Friday as shoppers check balances
• Brits spend more instore than online, but average online transaction is nearly double (£48 vs £25)
• But poll shows a fifth regret their impulse purchases and end up returning items just days later

• Four in five Brits admit to disagreements with housemates
• Cleaning and bills key causes of arguments, according to new poll
• People choose to live together due to financial difficulty of living alone
• One in three pay more than their fair share, adding extra £339 per year
• Quarter have even lost a friend due to a household disagreement