Guidance

Retail Banking unarranged overdraft alerts: Directions to Nationwide

Directions issued to Nationwide about rules on providing alerts to customers on unarranged overdraft charges.

Documents

Details

Nationwide has breached Part 6 of the Order (covering alerts which must be sent in relation to unarranged overdraft charges) through both failing to provide some customers with an alert and failing to provide some customers with an alert which was compliant with the Order.

In total, the 20 breaches affected 320,971 customers and Nationwide will be repaying over 拢6 million in charges to affected customers. Some of the breaches have lasted since this part of the Order came into force in February 2018.

Press release: Nationwide refunds 拢6m to customers following CMA action

Updates to this page

Published 8 August 2019

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