News
November 15, 2025
Nationwide issues update on 'charges due in the next month' displayed in statements
Nationwide has explained its rules around extra charges that customers may have to pay after a customer asked the provider about how its overdraft interest charges work
Nationwide Building Society has clarified its policies regarding potential charges displayed on customer statements under the heading "charges due in the next month," following an inquiry about overdraft interest calculations. The building society aims to provide greater transparency to its members regarding how these charges are determined and when they might be applied.
A Nationwide customer recently reached out to the provider seeking clarification on how overdraft interest charges are calculated and displayed. This prompted Nationwide to review its communication methods and issue a broader update to all customers regarding this particular section of their statements.
The "charges due in the next month" section is intended to provide customers with an advance notice of potential fees that might be incurred based on their current account activity. This primarily relates to overdraft interest, which is charged when customers use an arranged or unarranged overdraft facility. However, the display of these charges can sometimes cause confusion, especially if customers are unsure how the projected amount is calculated.
Nationwide’s update emphasizes that the amount displayed is an estimate based on the account's activity at the time the statement is generated. Several factors influence the final interest charge, including the amount of the overdraft used, the duration it is used for, and the specific interest rate applicable to the account.
The building society clarified that the projected charges are not a fixed amount and can fluctuate depending on a customer's subsequent account activity. For instance, if a customer reduces their overdraft usage or makes deposits into their account, the final charge will likely be lower than the initially projected amount. Conversely, increased overdraft usage could lead to a higher charge.
Nationwide encourages customers to regularly monitor their account activity through online banking or their mobile app to get a real-time view of their balance and potential overdraft charges. They also highlighted resources available on their website and through customer service channels to help customers understand how overdraft interest is calculated and how to manage their accounts effectively to avoid unexpected fees. This initiative reflects Nationwide's commitment to clear communication and empowering customers to make informed financial decisions.
A Nationwide customer recently reached out to the provider seeking clarification on how overdraft interest charges are calculated and displayed. This prompted Nationwide to review its communication methods and issue a broader update to all customers regarding this particular section of their statements.
The "charges due in the next month" section is intended to provide customers with an advance notice of potential fees that might be incurred based on their current account activity. This primarily relates to overdraft interest, which is charged when customers use an arranged or unarranged overdraft facility. However, the display of these charges can sometimes cause confusion, especially if customers are unsure how the projected amount is calculated.
Nationwide’s update emphasizes that the amount displayed is an estimate based on the account's activity at the time the statement is generated. Several factors influence the final interest charge, including the amount of the overdraft used, the duration it is used for, and the specific interest rate applicable to the account.
The building society clarified that the projected charges are not a fixed amount and can fluctuate depending on a customer's subsequent account activity. For instance, if a customer reduces their overdraft usage or makes deposits into their account, the final charge will likely be lower than the initially projected amount. Conversely, increased overdraft usage could lead to a higher charge.
Nationwide encourages customers to regularly monitor their account activity through online banking or their mobile app to get a real-time view of their balance and potential overdraft charges. They also highlighted resources available on their website and through customer service channels to help customers understand how overdraft interest is calculated and how to manage their accounts effectively to avoid unexpected fees. This initiative reflects Nationwide's commitment to clear communication and empowering customers to make informed financial decisions.
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Business