News

• Nationwide today commits to launching business banking proposition that will shake up market
• But £50 million funding from RBS remedies fund would deliver a bigger impact, sooner
• Branches & digital at heart of Society plans with small businesses to be served on their terms
• Society applies for Incentivised Switching Scheme as it looks to maximise impact at launch

• Nationwide introduces unique new assessment for graduates and apprentices
• Escape room format mirrors popular games like Crystal Maze and Krypton Factor
• Latest element will complement more traditional ways of assessing new talent

• Just five per cent of Brits would fall for the traditional doorstep builder scam¹
• But more than a quarter would put themselves at risk of fake email invoice scams
• Research shows many Brits would fail to query whether an invoice is real or fake
• A third in the South West would fail to check versus a fifth in Northern Ireland
• Nationwide urges people to always stop and think before paying an invoice

Today, Nationwide has enhanced its savings range by increasing its one and two-year Bonds and Fixed Rate ISAs (FRISA) and launching a new three-year Bond and FRISA.

• Parents expect to have saved around £7,000 by the time their child turns 18
• Money intended to help children get a home, buy a car or fund university
• But over a third of parents have had to dip into their children’s savings in an emergency
• A quarter have never spoken to their children about money and saving

• More than a third of private tenants have lost some or all of a previous tenancy deposit
• Average time for return of deposit is almost two months – but for more than one in five it takes 3 months +
• Two in five lose deposit cash to wear and tear or cleaning costs

Poll follows #TogetherAgainstHate campaign aimed at raising awareness of online abuse

• One in six people receive online abuse while one in 20 have sent hateful comments
• Abusive, sexist, racist and homophobic posts most common types received
• Lack of reaction allows hate to fester as a quarter of recipients fail to report posts

• Nationwide’s Open Banking for Good challenge set to help those living on a financial knife edge
• Participants challenged to develop apps and services to combat common financial capability issues
• Challenge convenes experts from Nationwide, Doteveryone, Money Advice Trust, Nesta, Accenture
• Launches with a £3 million fund from Nationwide to ignite, challenge and encourage innovation

Nationwide Building Society is today launching a practical partnership with homelessness charity St Mungo’s aimed at providing a consistent and compassionate response to people rough sleeping on the high street – and is urging other businesses to follow suit.

• Three in ten Brits willing to move own money into a new account to ‘keep it safe’
• Young at risk: those aged 16-24 four times more susceptible than those 55 plus
• People in London, West Midlands, Wales and North East areas most likely to be at risk of impersonation scams
• But education message is working, with one in three refusing to hand over money

Richard Beck, Adviser to the CEO, has resigned from Nationwide Building Society. In May this year he stood down as Chief Strategy & External Relations Officer and a member of the Society’s Executive Committee, which allowed him to make provisions for his sick mother overseas.

• More than five in ten lose their deposit in full, despite over two thirds disputing it
• More male students get their money back than women
• Students lose an average of £150 of their rental deposits while at university
• Lack of experience means many students fail to spot cost of renting

Cash-strapped students are being hit with an average bill of £150 at the end of their tenancy, with eight in ten saying the money was held back unfairly.