We have been asked by some members of Nationwide to investigate complaints about the Fairer Share Payment scheme.
We have been asked by some Nationwide members to investigate complaints about Nationwide’s Fairer Share Payment scheme. Under the scheme, certain members of Nationwide whose accounts meet the eligibility criteria, as set out in the terms and conditions, are eligible for a payment of £100.
We have been considering whether complaints about this activity fall under our jurisdiction.
The rules that govern our service set out the businesses and activities the Financial Ombudsman Service can consider complaints about. The distribution of profits – which is what the Fairer Share Payment scheme involves – is not an activity we can consider complaints about.
If you are a Nationwide member and your complaint concerns the setting of the eligibility criteria of the scheme, how it was advertised, the amount of the payment or how it was paid, your complaint is unlikely to fall within our jurisdiction.
However, if there was an issue with your account which prevented you from meeting the eligibility criteria, we may be able to help.
We always give businesses the chance to resolve issues before we investigate, so customers will need to complain to Nationwide first before we consider a case.
We publish further information about making a complaint about a bank or savings account, the type of complaints we see and how we can help.
You can find our previous updates to this news story below:
Under Nationwide’s Fairer Share Payment scheme, certain members of Nationwide whose accounts meet the eligibility criteria, as set out in the terms and conditions for the scheme, are eligible for a payment of £100.
We have been asked by some members to investigate complaints about the Fairer Share Payment scheme.
Our general view is that it’s a matter for businesses to decide the circumstances in which they share profits, and the basis on which they will do that.
However, if you are a member of Nationwide and you believe that you meet all of the published eligibility criteria for this scheme but still didn’t receive a payment, or that there is an issue with your account which has prevented you from meeting the eligibility criteria, we may be able to help.
We always give businesses the chance to resolve issues before we investigate, so customers will need to complain to Nationwide first before we consider a case.
18 July 2024
Welcome to the latest edition of Ombudsman News. In this edition, we highlight our latest annual complaints data and insight for 2023/24. We also share guidance for professional representatives about referring a complaint to us for investigation.
16 July 2024
Holidaymakers unhappy with their travel insurance have led to rising levels of complaints.
12 July 2024
Complaints about the banking sector are at their highest level in at least a decade.
