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Nationwide changes banking charges

22 March 2004
Nationwide, the world's largest building society, has announced changes to some of its banking charges.

As of June 1st customers will see an increase in "bad behaviour" fines. Credit card charges are set to rise, with the late payments and exceeding the card's limit fees going up £3 to £15.

Current Account holders will receive a relatively minor slap on the wrist for slow payments, with the unpaid item fee increasing £1.50 to £21.50.

Nationwide, which is now the UK's fifth largest mortgage lender and ninth largest retail banking, says it's fees and charges still "remain some of the lowest in the market". Their overdraft rate, for example, is the best available at 6.75 per cent.

Additionally they do not add foreign currency charges to withdrawals made oversees.

The building society adds that stopped cheques, banker's references, and duplicate statement fees are still free of charge. By comparison, other providers charge anywhere up to £10 for each service.