Nationwide issues Christmas shopping warning

Nationwide customers have been issued a warning ahead of Christmas. With December 25 just a couple of weeks away, the world’s largest building society, with over 16 million members, has urged people to be on alert.

According to Nationwide, it is predicted that over 20 million transactions will be made as shoppers rush to finish their Christmas shopping. In fact, it is expecting 20.6 million transactions on December 12 (Friday) and Saturday 13, which is 6.39% higher than the same dates in December 2024.

It noted that a peak number of 10.7 million transactions is predicted on December 20, with people rushing to complete any last-minute shopping. But with this in mind, the banking society has warned people they could be at risk of paying much more than they need to and you could be scammed.

Commenting on the data, Mark Nalder, Service, Operations and Performance Director at Nationwide said: “Despite continued lower consumer confidence as we head towards Christmas, it’s encouraging to see that we’re expecting higher volumes of spending on Christmas shopping than the previous year. These peak periods will be incredibly busy days for retailers as consumers race to finish their shopping.”

He added: “It’s also more important than ever to pause and think before making a purchase to ensure that you’re paying the best price and to be on the lookout for potential scams, whether that is in-person, online shopping, or on social media. Platforms like Snapchat and Telegram showed the largest year-on-year increase in reported social media scams according to our data so it’s important that shoppers remain vigilant for any deals that seem too good to be true.”

Nationwide’s top tips for avoiding scams

• Be sceptical of urgency, scammers often pressure you to act fast.
• Use secure payment methods, try to avoid bank transfers unless you’re 100% sure.
• Report suspicious activity to your bank/building society and Action Fraud immediately.
• Ideally check with your building society or bank before making any payment. For example, Nationwide has a 24/7 fraud line, while its Scam Checker service means that if you ask for a payment to be checked beforehand and Nationwide gives the greenlight and you go onto to be scammed, you’ll get a full refund.

Nationwide is paying eligible customers £175 ‘in 10 days’

Nationwide announced it will give away £175 cash incentives to all eligible customers who take certain steps. Like other banks who provide switching rewards to attract new customers, Nationwide confirmed anyone transferring to its FlexPlus, FlexDirect or FlexAccount from a non-Nationwide account may receive the bonus. You can read the full article and see if you’re eligible here.