Take the stress out of switching current accounts
Over 40% of people have never changed their current account, while 39% haven't changed for over five years. Some people feel switching current accounts is a hassle - but it doesn't need to be. Not every current account is the same, meaning there can be real benefits in choosing one better suited to a consumer's needs.
This is why Nationwide has filmed a short video with money expert, Michelle Slade, to explain why people should consider switching their current account and to assure consumers that the switching process can be simple.
Phil Smith, Nationwide's head of strategy, planning and portfolio, said: "At Nationwide, the account transfer process is really simple; you just fill in one form and we do the rest. We contact your bank, we get a list of standing orders and direct debits and transfer them for you. You just transfer your salary as and when you're ready. With the Nationwide Account Transfer Promise, we'll contact your Direct Debit providers within 10 days and, if we don't, we'll give you £100."
Nationwide's four-point Account Transfer Promise:
Contact all your Direct Debit companies within 10 working days. If we don't, we'll give you £100.
Simply have payments to transfer and make sure we have the right information.
Refund any Nationwide overdraft charges and interest incurred due to an error in the transfer process, in the three months following the start of your account transfer. Give us a call and we'll refund it straight away.
Keep you informed throughout via text and provide a dedicated team to help with any questions.
Check which of your providers have updated their records. We'll be in touch if they don't and let you know what you need to do.
In addition, if the customer switches in-branch, Nationwide will aim to match the overdraft amount offered by the switcher's previous provider.
The video can be found at youtu.be/dLLa0tY2Rc0