Precise date as Nationwide to change charges for | U.Ok.Finance Information
Nationwide has informed its members about sure upcoming modifications, together with prices, that may have an effect on sure accounts. The world’s largest building society despatched emails to clients this and final week, explaining that some phrases and circumstances will probably be amended from April 9.
Nationwide mentioned new protections will probably be added to present accounts “so that you can get your money back if you have made a payment because you have been a victim of a scam”. The replace additional clarified: “We will refund you up to the maximum amount set by our regulators if the payment was made in British Pounds by bank transfer to another UK account.”
It additionally talked about that refunds will sometimes be processed within 5 business days of reporting the rip-off. Nevertheless, there are circumstances the place the refund could also be denied, similar to if the scammed particular person ignored a warning from Nationwide, the police, or one other authority about suspected fraud.
The refund might also be withheld if the individual didn’t inform Nationwide promptly enough, or didn’t present ample info for investigation. Nationwide additionally mentioned: “We can take back any refunded amount (after giving you reasonable notice) if we later believe you acted fraudulently when making the claim.”
Nationwide’s different modifications embrace a discount in charges for FlexDirect clients who need to ship massive quantities through the Clearing Home Automated Fee System (CHAPS). This system is usually utilized by these needing to switch substantial sums within the UK.
From Might 1, FlexDirect clients utilizing this service will probably be charged £15, down from the present charge of £20. The building society additionally plans to cut back its prices for transferring funds from abroad accounts into the UK from £20 to £15 on the identical date.
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