In 2008 Nationwide Building Society indicated in television advertisements that it considered the imposition of additional fees and commissions to be unfair.
From 1 November 2010, Nationwide Building Society will itself impose such charges and is therefore taking a course of action which, by its own admission is in breach of Principle 6 of the Financial Services Authority, which says, "A firm must pay due regard to the interests of its customers and treat them fairly."
Further, Principle 1 says "A firm must conduct its business with integrity."
We consider Nationwide Building Society to be in breach of this principle too because is taking a course of action that it has publicly stated to be contrary to Principle 6.
We call upon Nationwide Building Society to reinstate the previous policy of allowing its members free access to their money, whereever they happen to be.