Nationwide Clarifies Payment Rules Following Customer Complaint

A customer of the Nationwide Building Society recently expressed frustration over delayed refunds related to a payment made to the mobile network provider EE. The individual contacted Nationwide via social media, describing their experience as a “waste of time” while seeking assistance for a pending payment issue.

The customer reported that a payment had been taken on January 4, but after cancelling the order the following day, they were left waiting for the funds to be credited back to their account. On January 12, they posted, “Still pending on my account. Why should the consumer lose the said amount for over a week for no goods?”

In response, a spokesperson for Nationwide indicated that they had reached out directly to the customer with additional information regarding their payment policies. The building society explained that card payments typically show as pending for up to seven days, pending the receipt of a clearing file from the merchant to confirm the transaction. This timeframe aligns with standard industry practices.

The spokesperson elaborated, stating, “The refund will be returned to the account as soon as it is received from the merchant. Merchants typically quote a timeframe of five to seven days for processing refunds.” This guidance suggests that customers should expect a waiting period before funds are restored to their accounts.

Understanding Pending Payments and Refunds

Nationwide’s website offers further clarity on what happens once the seven-day period has elapsed. If a pending transaction has not been processed by the merchant after seven days, the building society will stop reserving the funds. Consequently, this means the amount will become available for the customer to spend, and the pending transaction will no longer appear in their account.

It is essential for current account holders to be aware of longer wait times for certain transactions. According to the same online guidance, “For current accounts, it’s a good idea to keep enough money in your account to cover the payment. That’s because some can take up to 180 days to go through.” This extended timeframe could lead to unexpected account balances if the transactions are processed later.

In addition, Nationwide provided information on how customers can dispute a payment. They noted that disputes can be raised through various channels, including in-branch visits, calls to the contact centre, or online submissions.

For those seeking updated information on consumer issues, including money-saving tips, the new Everything Money website serves as a resource for shopping and financial news.