Nationwide current accounts vs Barclays

[A900ss]

I’m currently with Barclays but they’ve closed my local branch so instead of an hour round trip to go to the branch, I’m thinking of moving to nationwide.

Just a bog standard current account but they have branches near me and are offering a £175 switch bonus.

Other than the branches, I’m happy with Barclays as their digital service is great.

Any watch outs with Nationwide?

Thanks.

[LimmerickLad]

Been with them for years.....excellent service allround I find.

[Rick101]

Recommend. The fairer share and other bonuses over the last few years have been very nice too.

Have had to do a Section 75 claim with them which was torturous but outside of that, everything works.

[C69]

Have you investigated the Post Office's Everyday Banking service, if you didn't want to switch accounts? It depends on what you're using the branch for, of course.

[Ezra]

No problems with the N'wide current account we have - I would definitely recommend.

[Blue M5 Comp]

Been with them over 20 years
Fantastic customer service and they seemed to care

[OutInTheShed]

I haven't been to a local branch of my bank more than twice in 25 years.

Here, we have a 'Banking Hub' where we get itinerant bank staff from the various banks once a week.
I used it once to pay in cheques from cashing in VED.

First Direct used to be a cut above, being more focused on phone and online banking.
Now, I think they are all muck of a muchness.

[LHRFlightman]

As most posters above have said, no issues with Nationwide.

[A900ss]

Thanks all.

[Jon39]

A bunch of amateurs.

They limit and complicate how payments are made, never provide competitive savings rates and continually bang on that they must be better, because they don't pay dividends to shareholders. Their profits are in the £ hundreds of millions and when they feel guilty, pay £50 to some of their customers/members, but don't call it a dividend.

My advice is never rely just on one bank. For years I have had accounts with three main banks. It then makes it simpler to use accounts for specific purposes eg. only direct debits come out of one specific bank.
When banks have their occasional unexpected computer shut-downs there is never a problem when you have other bank accounts available.

Have also had several savings accounts with Nationwide, but coincidentally have closed some of those this year.
They play the usual trick, of announcing new accounts with better (non-competitive) interest rates and gradually reduce the older account interest rates, which most loyal customers might never notice.

If you want other tips, try to pay as much as possible with a (free) AMEX credit card (purchase protection and cash back once a year).
When retailers don't want AMEX, have a Barclaycard Rewards at the ready (cash back and no fees).
Paying by credit card you are in charge, when something goes wrong.
Paying by debit card, and you discover your bank is in charge.

[Alexfi1982]

Switched from Barclays to Nationwide in Feb this year, all straight forward, no issues, got the £175 switch bonus, and £100 fair share in June, as well as small cashback and interest on the current account. No longer paying for Blue rewards, which was fairly pointless for me, and access for free, to decent savings accounts.

Thumbs up from me so far.

[Imasurv]

I’ve been with Nationwide for a long time - 30 plus years. In that time they have generally been pretty good, but of late I’ve had some pretty serious issues with large payments/transfers and having my cards frozen when on holiday. In each case I’ve tried to inform them in advance — which isn’t straightforward as they don’t seem to have a process to accommodate this - ‘we’ll note that on your file’ and then subsequently block my card/stop a transfer etc. The worst was when they froze all my accounts despite me telling them in advance about some large payments, leaving me without access to my accounts at a pretty crucial time, causing me a huge amount of hastle. I know ‘security’ and all that, but their system doesn’t seem to give you a straightforward way to avoid problems… YMMV. I’ve learned from this and set up accounts with other providers.

[ninepoint2]

Nationwide very good in my experience, however why are you worried about branch closure, can't remember when I last needed to visit a branch.

Edited by ninepoint2 on Friday 24th October 19:11

[The Leaper]

You need to go to a branch if you wish you make a large payment/transfer. I am one of two executors administering a deceased's estate, and we are getting near the time to distribute the deceased's residual assets to 5 beneficiaries. Each amount is 6 figures. The bank says this can only be done in a branch. I said "what if the branch is 100 miles away?" and the reaction was "tough".

It's the same if you get a cheque in non sterling currency eg US$. "Got to go to a branch, sir".

Surely, this has to change with the number of branches closing all the time?

Off topic I know, sorry.

R.

[Jon39]

Imasurv said:

I ve been with Nationwide for a long time - 30 plus years. In that time they have generally been pretty good, but of late I ve had some pretty serious issues with large payments/transfers and having my cards frozen when on holiday. In each case I ve tried to inform them in advance which isn t straightforward as they don t seem to have a process to accommodate this - we ll note that on your file and then subsequently block my card/stop a transfer etc. The worst was when they froze all my accounts despite me telling them in advance about some large payments, leaving me without access to my accounts at a pretty crucial time, causing me a huge amount of hastle. I know security and all that, but their system doesn t seem to give you a straightforward way to avoid problems YMMV. I ve learned from this and set up accounts with other providers.

Exactly as I described above.

HSBC is a bank in the big time and they understand proper banking.
Can do payments or transfers of a size, that the Nationwide computer immediately refuses.

As always with banking, never just use one bank for your requirements.
You are creating an unnecessary risk for yourself, which one day may leave you stuck.

[ChocolateFrog]

No issues with Nationwide, I'd certainly recommend them.

Nice to get a of free cash every now and then too.

[OutInTheShed]

The Leaper said:

You need to go to a branch if you wish you make a large payment/transfer. I am one of two executors administering a deceased's estate, and we are getting near the time to distribute the deceased's residual assets to 5 beneficiaries. Each amount is 6 figures. The bank says this can only be done in a branch. I said "what if the branch is 100 miles away?" and the reaction was "tough".

It's the same if you get a cheque in non sterling currency eg US$. "Got to go to a branch, sir".

Surely, this has to change with the number of branches closing all the time?

Off topic I know, sorry.

R.

That's not true.
I have done 6 figure sums online for house moves, and to move money to different savings accounts, to and from pensions etc.
Scarily easy.

Last time I went to a branch, it was staffed by children who I wouldn't trust to deal with more than the price of a curry.

[The Leaper]

OutInTheShed said:

The Leaper said:

You need to go to a branch if you wish you make a large payment/transfer. I am one of two executors administering a deceased's estate, and we are getting near the time to distribute the deceased's residual assets to 5 beneficiaries. Each amount is 6 figures. The bank says this can only be done in a branch. I said "what if the branch is 100 miles away?" and the reaction was "tough".

It's the same if you get a cheque in non sterling currency eg US$. "Got to go to a branch, sir".

Surely, this has to change with the number of branches closing all the time?

Off topic I know, sorry.

R.

That's not true.
I have done 6 figure sums online for house moves, and to move money to different savings accounts, to and from pensions etc.
Scarily easy.

Last time I went to a branch, it was staffed by children who I wouldn't trust to deal with more than the price of a curry.

Well, maybe it's true for business accounts, but not personal accounts. My co executor and I opened a specific executors' account with Barclays (the deceased banked with them) to deal with the financial aspects of the estate administration. We have now found out that Barclays published maximum single transaction is £50,000 and only one per day. We executors have asked for a larger limit and been told its not possible, we must go to a branch for anything over £50,000.

R.