You will be bound by our charitable assignment scheme. Unless you have been a member of Nationwide continuously from 2 November 1997 or fall into a special group to which the scheme does not apply, you agree to be bound by the terms of our charitable assignment scheme as set out in the section headed ‘Important Information: Our Charitable Assignment Scheme’ in your product guide that you received with this application form. Under the scheme:
- You will become a member of Nationwide Foundation if you are not a member already. The Foundation is a registered charity and is a focus for our charitable giving.
- You agree with us and with the Foundation to assign to the Foundation your rights to any windfall benefits (e.g. money or shares) you might otherwise have received in the unlikely event that we transfer our business to a company.
The terms of the scheme are set out under the heading “Charitable Assignment” in our leaflet Current Accounts – Important Information