Here we go again… Nationwide is the latest financial brand to trip up after it revealed today that a number of its current account customers have been debited twice for some transactions.
Customers of the building society noticed that debit card transactions made on Tuesday 24th July had been duplicated, with the same amount of money being deducted again the following day.
This resulted in a number of customers going overdrawn, with many of those affected taking to Twitter to voice their frustration, including Stephen Evans (@sevans1308) who said:
‘Turns out Tuesday’s weekly shop was an expensive one, thanks for charging me double #Nationwide!’
Is a refund enough?
Nationwide has said that all errors will be corrected overnight and that customers will be given a full refund for any charges incurred as a result of the problem. But will its customers forgive and forget so easily?
Talk about bad timing. Nationwide was styling itself as the ‘answer’ to the trouble-stricken big banking brands; their homepage urges people to switch, insisting that ‘you don’t need a bank.’
And it seemed to be working, as recent research by Which? found that Nationwide experienced a 67% increase in the number of people switching to them last month. This was in the wake of the technical glitch at RBS/NatWest that left millions unable to access their money, as well as the rate-rigging scandal that engulfed Barclays.
Gremlins and glitches
But it appears that Nationwide is not immune to error. I can easily imagine the frustration and inconvenience experienced by those who have been affected. The term ‘technical glitch’ is becoming worryingly common in the banking domain, and much more needs to be done to restore public confidence in banks.
Gremlins in the banking system will always lurk in the background, but it’s how the banks deal with them that really matters. Nationwide has promised to resolve all the problems, but ultimately, it’ll be judged on how it delivers. Our executive director, Richard Lloyd thinks ‘the least Nationwide can do is keep their customers properly informed on the issue, and they should compensate those people who have been seriously affected’.
Were you affected by the Nationwide glitch? Should we have to accept that big financial institutions will suffer the occasional problem, or is this one error too many for you?