Nationwide customers demand building society 'clear up' change to accounts
A customer was confused as they had been sent a new sort code and bank account number.
Nationwide customers have rushed to beg for clarity after they "noticed" a change which they want the building society to clear up. A customer was confused as they had been sent a new sort code and bank account number.
They also asked: "I noticed at the weekend that my loyalty account isn't called a loyalty account any more, it's just a reward saver. Can anyone have one now?"
In response, Nationwide said: "You've received a sort code and bank account number because, from 6th February 2025, Loyalty Saver will be known as Reward Saver.
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"This change is automatic, and the product will initially remain a Unisys product before migrating to SAP. Once migrated, customers will receive a sort code and account number."
It comes as more than 1million bank account switches took place in the past 12 months, with 222,805 happening in the first three months of the year, figures from the Current Account Switch Service show.
Britain's biggest building society came out top with the highest net switching gains of 51,254 between October and December 2024, according to the bank-specific data, which is three months in arrears.
It was followed closely by Lloyds Bank, which saw 50,061 net switchers between October and December 2024.
This is the second quarter in a row that Nationwide had the highest net switching gains. Between July and September 2024 Nationwide saw net switching gains of 22,622.
John Dentry of Pay.UK, which operates Cass, said: "The past quarter has provided a turbulent economic backdrop, no doubt encouraging increasingly money-conscious consumers to take action."
The figures also coincide with generous bank switching bonuses being paid out by both Nationwide and Lloyds.
Between October and December 2024, Lloyds was paying a £200 cash bonus to new current account customers while Nationwide was paying £175 until 31 March 2025.