Nationwide Provides Guidance on Payment Processing Times
Nationwide Building Society has issued a clear explanation regarding the expected timelines for payments into customer accounts, following a query from a member who reported not receiving expected funds.
The customer raised concerns after a payment sent from another Nationwide account failed to appear in their own account, prompting them to contact the provider via social media to ask, "What's the issue?"
Response from Nationwide on Payment Delays
In response, Nationwide inquired whether the payment had been dispatched more than two hours prior. The customer clarified that the money was sent approximately an hour earlier, leading the building society to direct them to specific guidance on its website.
The guidance states: "Unless you choose to pay in a different way, payments you make to others from your current account are sent using the Faster Payments Service." This service covers most single payments made online through the app, internet bank, or Open Banking, as well as in-branch transactions, whether immediate or scheduled.
Additionally, it includes transfers to accounts held with other building societies or banks. According to Nationwide, funds typically land "within two hours" once the money has left the sender's account.
Steps for Unresolved Payment Issues
When the customer asked what to do if the payment did not arrive within this timeframe, Nationwide responded on Friday, March 20, offering further assistance. The building society advised: "Our banking team will be happy to look into this further for you."
Customers can contact the banking team at 03457 302011 until 8 p.m. or initiate a secure chat via the app or internet bank for immediate support.
This incident highlights the importance of understanding payment processing times and the resources available for resolving banking queries promptly.
