Nationwide Building Society has provided an update on some important updates to certain savings accounts. The group provided the information after a customer was confused to receive some new account details including a new sort code and bank account number.
The customer also asked: “I noticed at the weekend that my loyalty account isn’t called a loyalty account any more, it’s just a reward saver. Can anyone have one now?” Nationwide responded by saying: “You’ve received a sort code and bank account number because, from 6th February 2025, Loyalty Saver will be known as Reward Saver.
“This change is automatic, and the product will initially remain a Unisys product before migrating to SAP. Once migrated, customers will receive a sort code and account number.”
Nationwide said they have also informed members before of the change. The group also said: “The Reward Saver account is now available to a wider range of customers.”
Currently, the interest rate for the Reward Saver stands at 3.5%. Moreover, Nationwide highlighted: “This account isn’t open to new business, so only those who had a Loyalty Saver etc would now have this account.”
In a separate move, Nationwide is giving away a £50 token of appreciation to millions of its customers after completing its acquisition of Virgin Money. Members eligible for the £50 bonus are those who were with Nationwide as of September 30, 2024, and who remain so when the giveaway occurs.
Also in the 12 months to the end of September 2024, you need to have had:
Nationwide has already started to send out the bonus cash. If you’re a Nationwide customer with a current account, instant access or limited access savings account, you should expect to receive the payment by April 30.
Similarly, if you hold a mortgage with Nationwide, the funds will be deposited into the account linked to your mortgage direct debit, by April 30. Any remaining payments will be dispatched as cheques by May 14, which must be cashed in by January 1, 2026.
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