Not upheld: Service failures generally complaint against Nationwide Building Society

Decision detail

Summary

Mr F complained that Nationwide Building Society provided conflicting and incorrect information when he attempted to transfer property sale proceeds to another bank, resulting in a 17-day transfer period due to Nationwide's daily limit of £100,000. The ombudsman found that while Mr F was given inaccurate information initially attributing the restriction to the receiving bank rather than Nationwide, the firm was not responsible for the receiving bank's refusal to accept alternative payment methods. The ombudsman concluded that Nationwide's daily transfer limit is a matter of commercial judgment and the £50 compensation offered for the incorrect information was fair and reasonable, declining to uphold the main complaint.

The Ombudsman's reasoning

The ombudsman found that while Mr F was given conflicting information about the source of the transfer restriction, Nationwide was not responsible for C's refusal to accept alternative payment methods. Since faster payments was the only available method and Nationwide's daily limit of £100,000 is a matter of commercial judgment for the business to set, the 17-day transfer period was not unfair. The incorrect information provided did not have a significant impact on the outcome. The £50 compensation offered for the inaccurate information was deemed appropriate.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website