2008 ends on a disappointing note for the banking system
It has today been revealed that many Nationwide customers are missing December salary payments which have not yet been credited to their accounts. It appears that after an "overnight processing problem" a number of accounts have not been updated with automatic debit and credit payments leaving many customers short of funds and possibly facing late payment charges for direct debits which have not been paid.
While Nationwide claims that the problem affected only a "small minority" it has apologised to customers who have been affected and the problem should be rectified in the short term. Customers who are unable to draw money from cashpoints are invited to visit their local Nationwide branch where they will be able to make withdrawals of up to £100 each if regular payments are visible on their accounts.
Coming just days after a Barclays bank customer spotted a £100 billion debit on his account it would appear that 2008 has not ended well for the UK banking sector. Again, it does illustrate how vital the UK banking system is to everyday life and how much we depend upon the services they offer. While no customer will lose out with regards to the Barclays bank and Nationwide building society problems many customers are very disappointed with the situation.
Share this..
Related stories
US unemployment data surprises market
The US stock market has been surprised at today's unemployment figures which show a rise to 10.2% in October which is the highest figure since April 1983. The figures, released by the US Labor Department, show a rise from the 9.8% in September and confirm that nearly 200,000 jobs were lost in the U.S. economy between September and October. So what next for the US economy?
While this...
Can The UK Economy Ride The Storm?
As the news worsens in the property sector, finance costs start to move ahead again and debt levels throughout the UK population are still rising, there are many observers under the impression that the UK economy is in for a rough ride over the next couple of years. When you also take into account the fact the UK government has budget deficit concerns and a fear of growing inflation, is there any...
Read MoreWhat could we expect from a Conservative government?
As rumours continue to circulate around Westminster that Gordon Brown is set to announce a snap election in March, thoughts are now moving forward to next year and the potential for a Conservative government. What can we expect from the new Conservative party? Will it be any different from the Labour Party? The truth is that whichever party wins the next election, or gains minority control of t...
Read MoreUsing your credit card overseas, the traps
Even though fewer of the UK population will be holidaying overseas this year, there are still significant issues with regards to the use of credit cards on your travels abroad. It would appear that more and more credit card holders are unaware of any potential charges they may incur when using their credit card overseas, with very few actually investigating the situation. So what should you look o...
Read MoreMPs to probe banking practices
An influential group of MPs is to investigate claims the country's banking sector is overcharging consumers. The Treasury committee plans to probe competition in the industry as well as the perceived end of 'free' banking. Last year First Direct became the first bank to announced fees for its current accounts. There have been suggestions that banks are looking to new ways to charge customers to co...
Read More