Nationwide Building Society, the largest building society in the UK, is making headlines both for its planned distribution of "fairer share" bonuses to its customers and for recent complaints about its customer service, particularly related to bereavement claims. Customers hoping for these bonuses are urged to act quickly and proactively manage their banking activity.
The anticipation surrounding the 2025 bonuses is guided by guidelines from Money Saving Expert (MSE), which indicates Nationwide is likely to announce these bonuses around May and disburse them by June. This initiative, launched last year, was aimed at sharing profits with nearly 4 million of the society's members, prompting wide interest among customers.
To be eligible, members must maintain certain criteria: they will need to have had their current account alongside the qualifying savings or mortgage by March 31, 2025. MSE encourages customers not only to keep their account active but also to maximize interactions with their current accounts through transactions, emphasizing additional requirements depending on the type of account held.
For customers holding FlexAccounts, FlexDirect, or FlexBasic accounts, MSE specifies needing to deposit at least £500 during the first three months of 2025, alongside making multiple transactions. Those utilizing FlexPlus packaged accounts merely need to keep up with account fees, and students must log transactions within March.
While the bonus program gives customers something to look forward to, recent reports highlight serious shortcomings within Nationwide's customer service framework, especially impacting those dealing with sensitive bereavement issues. Ewan Hunter from Stirling shared his heart-wrenching experience after losing his daughter, Lauren, who had accumulated £13,717 within a Help to Buy ISA with Nationwide.
Shortly after Lauren's passing, Ewan's wife, Margaret, visited their local Nationwide branch to initiate the claim process and manage her daughter's financial matters. Although she presented the necessary documents, including Lauren's death certificates, she faced delays, with no follow-up from the building society to proceed with the request.
Despite Mary returning to the branch for updates, she was repeatedly assured everything was "in hand." Yet after the second visit without progress, Ewan took matters to Nationwide himself. Yet staff could only provide minimal information, claiming errors may have resulted from document processing at the initial point of contact.
Expressing the distress caused during such challenging times, Ewan underscored the importance of supportive customer service protocols during bereavement. "The building society is making this far harder than it should have been," he lamented. Expressing significant frustration, he wished for improved processes to spare grieving families the extra labor of dealing with financial claims.
Fortunately, following media intervention led by journalist Katherine Denham, Nationwide acknowledged their shortcomings, issuing apologies for the delays experienced at what Hunter described as "a difficult time." The building society recognized failure to send necessary letters and potential miscommunication with the bereavement team. They confirmed the distribution of funds had finally occurred and even extended £150 as compensation for the inconvenience.
While the experience ended positively for Ewan and Margaret with their claim resolved, it casts light on the wider systemic issues within financial institutions like Nationwide. For bereaved individuals, the emotional toll compounds through communication failures and operational hurdles. Reports of similar experiences echo across many customers who demand institution-wide improvement.
With upcoming bonus distributions, it is clear Nationwide must balance its community commitments with the need for high-quality customer service. While the bonus could bring joy to households, individuals like Ewan Hunter stress the importance of compassionate support, particularly when life’s most challenging events challenge financial dealings. Nationwide is now committed to improving the training of its staff and refining its processes to prevent future grief-related misunderstandings.
Looking forward, Nationwide's leadership has promised to continue investing efforts to smooth out the customer experience and reinforce trust among its members. With the expectations of bonuses looming, many customers will not just be checking their accounts for payments but equally seeking answers to their concerns about competent and empathetic service.
Nothing can erase the pain of losing someone, but augmenting the support framework around financial institutions could alleviate some stress during those hard times. With improved practices and awareness, it is hoped customers can look to the future with a sense of security and support from their building society.