Nationwide Building Society stands as one of the UK’s most trusted financial institutions. Unlike traditional banks, it operates as a mutual society, meaning it’s owned by its members — not shareholders. This unique model allows Nationwide to focus on offering better value, service, and community support.
What is Nationwide Building Society?
Founded in 1884, Nationwide has grown into the largest building society in the world. It is well-known for offering competitive interest rates, transparent banking policies, and a strong commitment to customer service.
- Headquarters: Swindon, England
- Members: Over 17 million across the UK
- Branches: 600+ physical branches nationwide
- Employees: Approx. 18,000
- Assets: Over £270 billion
Key Services Offered
Nationwide offers a broad range of personal financial services tailored to every stage of life:
1. Current Accounts
Flexible current accounts with features like interest on balances, fee-free overdrafts, and mobile banking access.
2. Savings and ISAs
A variety of savings accounts including regular savers, fixed-rate bonds, and tax-free ISAs.
3. Mortgages
Nationwide is one of the leading mortgage lenders in the UK, offering deals for first-time buyers, remortgages, and home movers.
4. Loans and Credit Cards
Personal loans and credit cards with clear terms, competitive interest rates, and no hidden charges.
5. Insurance Products
Home, car, travel, and life insurance tailored to individual needs, all under one roof.
6. Online and Mobile Banking
Easy-to-use mobile app and internet banking to manage accounts, make payments, and track spending securely.
Why Choose a Mutual Building Society?
Being a mutual means that profits are reinvested back into better services and rates rather than distributed to external shareholders.
Key Benefits:
- Member-focused policies
- Exclusive reward programs like the “Fairer Share” £100 bonus payment for eligible members (2025)
- Enhanced community funding and charitable donations
- Transparent decision-making and member involvement
Recent Developments
In late 2024, Nationwide announced the acquisition of Virgin Money UK, further solidifying its presence in the British financial market. This strategic expansion aims to enhance its mortgage and savings services for a broader customer base.
Accessibility & Customer Service
- 600+ branches available across the UK
- 24/7 mobile and internet banking
- Phone and in-branch customer support
- Support for accessibility and vulnerable customers
FAQs – Nationwide Building Society
Q1. Is Nationwide a bank or building society?
Nationwide is a building society, which means it is owned by its members rather than shareholders.
Q2. What types of accounts does Nationwide offer?
Nationwide offers current accounts, savings accounts, ISAs, mortgages, loans, and insurance services.
Q3. Can I open a Nationwide account online?
Yes, you can open most accounts online through their website or mobile app.
Q4. What is the Fairer Share Payment?
It is a loyalty reward program offering a cash bonus (e.g., £100 in 2025) to eligible members.
Q5. Is Nationwide safe and regulated?
Yes, it is fully regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).
