Legal

About the service

Nationwide's sharedealing services are provided on an execution-only basis and are only available to UK residents. We cannot offer opinions on the advisability of sales and purchases. The value of your investments or any income from them can fall and you may get back less than you invested.

As neither Nationwide or Stocktrade is authorised to give advice on the buying and selling of shares, you may want to consult a financial specialist who is authorised to give stock market advice.

Some stocks and shares are less easy to trade in than others and it may be difficult for you to:

• sell these investments, or
• obtain reliable information about their value or the extent to which they are at risk. This can happen when information about company performance may not be readily available and therefore making an informed decision on whether to buy or sell can be made difficult. This may be particularly so when trading in foreign shares. In addition, please note that these investments and investment services may not be suitable for everyone.

Using our sharedealing services

All transactions will be executed while you are on the phone. It is then your responsibility to settle the trade on time in the appropriate way. Further information regarding this can be found by calling Stocktrade. Once a transaction is executed it cannot be cancelled. Any transactions that are executed and not settled may be reversed or charges applied or both. Any profit or loss made will be yours.

You should be in no doubt about the validity of your documents or the number of shares that you own when you make a telephone order using either service. You'll find the Registrar's contact details on your share certificate.

When you sell shares you may later receive a dividend, bonus issue, or other benefit, which is in fact the property of the person who bought the shares from you. This is due to the time taken to update the Registrar. You must send these benefits to Stocktrade who will pass them on to the new owner.

Neither Nationwide nor Stocktrade can accept liability for any documentation that you do not receive. Equally, neither party can accept responsibility for the accuracy of any share price information given to customers using the SpeechTradeTM system.

The sale of shares and immediate reinvestment of the proceeds is available to you only if you are a fully registered user of the occasional investor or frequent investor service and you have signed the acceptance of terms and conditions.

We can provide you with our full terms and conditions if you ask for them.

Trading hours are Monday to Friday 8am – 4.30pm, excluding bank and national holidays.

Money Laundering Verification

Please note that in order to comply with the UK Money Laundering Regulations 2003 Stocktrade have an obligation to verify the identity and permanent address of customers using the service. You may be required to provide certain personal details to Stocktrade prior to any sale or purchase of shares. Stocktrade may undertake an electronic Anti-Money Laundering check of the personal information you have supplied to them. The check will be undertaken via a reputable referencing agency, which will retain a record of this check. In the event that this check fails to meet Stocktrade's requirements you may be asked to provide certain documents, full details of which will be advised to you.

For those dealing from Overseas as with UK shareholders, it will be necessary for Stocktrade to satisfy the Money Laundering Regulations before shares can be bought or sold. However unlike UK shareholders it will not be possible to do this by electronic checks. You will be required to provide certain documents to Stocktrade, full details of which will be advised to you.

Queries and complaints

If you have a complaint or there is something that concerns you about the Nationwide sharedealing service, Stocktrade's internal complaints procedure will make sure that we hear your views and deal with them quickly. In this way, we try to put things right, as well as continually improve the service we give our members.

If you would like more information about Stocktrade's complaints procedure, or if you wish to make a complaint, please call our service line on 0131 240 0690 (please note that your call may be recorded) or write to:

The Compliance Officer,
Nationwide Sharedealing Service,
Stocktrade,
81 George Street,
Edinburgh,
EH2 3ES

If you are still unhappy after we have investigated a complaint, you can refer the matter to the Financial Ombudsman Service. Complaining to the Ombudsman does not affect your legal rights.

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