Nationwide pays £100 to put right its 77p mistake

Mrs C.F.writes: I have three Nationwide Flex Accounts, one in my sole name and two with my husband, and all have an overdraft facility. I queried a rise in interest charges and was advised to change my account to a FlexDirect account, which would only charge a maximum of £15 a month for the next year. I was told a refund would be given for the £15 fee charged for each transaction when overdrawn, but I have never received this. Now I have received my statements, only to find that interest fees have doubled, reaching nearly £200. I ASKED staff at Nationwide’s head office to look into this and they checked your interest and charges for the several months up to the date you contacted me.

Interest on your FlexAccount was steady, at just over £20 a month. You went over your agreed overdraft limit on one account and were charged £20 for this. And once, a direct debit was not paid because it would have taken you above your £2,000 overdraft ceiling, and you were charged £15 for this.

But the biggest single reason for what looks like a jump in charges is that your statement date changed. When this happened, two months’ charges appeared at the same time. There is some good news though. Staff spotted that in April you were mistakenly charged interest of 77p twice.

Nationwide has refunded the extra 77p and the 77p that really was due – and as an apology it is offering £100 as a goodwill gesture. Good for Nationwide.