Nationwide Building Society opened up appointments with its cost of living experts from October 2022, which customers can attend face-to-face, over the phone or via video1. The sessions offer financial health checks, money management advice and saving tips, according to Which?1. The building society also runs regular virtual and in-branch workshops where customers can get practical help with managing money and avoiding financial pitfalls1.
The appointments sit alongside other support Nationwide introduced during the cost of living crisis. In August 2022 it launched a free telephone hotline for customers affected by rising costs, staffed by trained experts from across its main branches1. The hotline operates from 9am to 4.30pm on weekdays and 9am to noon on Saturdays, and Nationwide aims to answer calls within 10 minutes1. From the same month, customers the society identified as showing obvious signs of financial difficulties were contacted directly by in-branch experts, who sought to understand their situation and offer advice1. Nationwide also said it was investing in extra training for all frontline staff, whether in branch or on the telephone1.
Separately, Nationwide current account customers with any adult, student or graduate account can earn 5% cashback on supermarket spending from 9 February 20231. The cashback applies to online and in-store purchases made with a Nationwide debit card at both large and small supermarkets, with a full list of participating stores on Nationwide's website1.
| Feature | Detail |
|---|---|
| Cashback rate | 5% on supermarket spending from 9 February 20231 |
| Monthly cap | £10 per calendar month, per card, reached after £200 of spending1 |
| Payment timing | Automatically paid into the account used for purchases within six weeks of the end of the calendar month1 |
| Deal end | 30 April 2023, or when £99m cashback has been paid to members, whichever is sooner1 |
"From October 2022, it opened up the opportunity for people to meet with one of Nationwide's cost of living experts face-to-face, over the phone or via video."
Why it matters for households
The appointments give Nationwide members a route to discuss their finances in person or remotely rather than only through an app or a call centre. The Which? report, published on 9 February 2023, describes the wider pressure households were under: an estimated 2.3 million households missed or defaulted on at least one bill payment in January 2023, covering mortgage, loan, credit card, rent or other household bills, according to the Which? Consumer Insight Tracker1. The cashback is a dated offer with a fixed end point: it runs until 30 April 2023 or until £99m has been paid out, whichever comes first, and is capped at £10 a month per card1. Members who want the cashback need to have made the qualifying supermarket spending before the scheme closes, and payments arrive automatically within six weeks of the month's end1.
What happens next
The cashback deal ends on 30 April 2023, or earlier if the £99m payout limit is reached1. Nationwide's cost of living appointments, hotline and workshops were reported as ongoing as of February 2023, with no closing date given1.
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