After having fraud done on my account 3 times with Nationwide, they have terminated all my accounts?
I have banked with Nationwide for several years, and over the years i have had fraud done to my card 3 times. The last time it happened, they took ages to give the money back. However i received a letter to say that due to me being a 'high risk'. I can no longer bank with them, that all my accounts have been terminated, and that my mortgage with them would be cancelled and so will my shares and savings bond. They are not giving the money back either from the fraudulent transactions. I just cannot believe they can do this, the lady who i spoke to regarding the letter they sent, was extremely rude and arrogant over the phone, a manager should be ringing me back tomorrow. I just can't believe that they can do this to me and i can't do anything? The money from the shares was for my kids, yet they have no remorse as the shares are paid out in a few years so i lose that.
If anyone has any experience with matters like these, please help!! I don't know where i stand with this, and if i stand back and do nothing I lose more money, and for what? Being honest and paying my debts on time, to have someone steal my money and a bank to leave me with bigger problems i started with. I don't mind losing the bank account, but I'f there's a way i can keep the shares and mortgage that will help me a great deal.
Thanks in advance for any advice given
x
July 5th, 2010 at 10:42 pm
I do not understand how you managed to have fraud done on your account 3 times. The chance of you being completely faultless for this are minuscule, you would have to be the unluckiest person in the world. Nationwide do not have to continually refund your money if you make stupid mistakes by using your card in tampered ATM machines, giving your password to others, not being careful while typing your pin into an ATM or EFTPOS machine, leaving your wallet and bank statements lying around, etc.
i am sorry that this isn’t what you want to hear, but it is the facts. they are running a business, and you are a liability. they are not obligated to allow you to open an account/hold shares/give you a mortgage with them if you can’t control who accesses your account.
as long as they pay you for the value of the shares/money that is in your bank account, then there is absolutely nothing you can do about it. they can legally do this.
sorry, and better luck in the future with your finances