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Nationwide Building Society is the largest retail bank in the United Kingdom (by number of branches), [2] and the world's largest building society, serving over 16 million members. [3] It operates as a British mutual financial institution, meaning it is owned by and run for the benefit of its members.
Nationwide Building Society: £175 for switching . A building society rather than a bank but the same premise applies for Nationwide, who are also offering £175 to move to their current account.
The building society sector has become much smaller with fewer building societies. This was caused, firstly, a number of building societies demutualising in the 1980s and 1990s and subsequently, taken over by banks. Secondly, there has been ongoing consolidation via mergers between societies. There are 42 building societies in the UK as of 2021 ...
A high street building society branch, in Banbury. A building society is a financial institution owned by its members as a mutual organization, which offers banking and related financial services, especially savings and mortgage lending.
For premium support please call: 800-290-4726 more ways to reach us
For premium support please call: 800-290-4726 more ways to reach us
Sort codes are the domestic bank codes used to route money transfers between financial institutions in the United Kingdom, and formerly in the Republic of Ireland. They are six-digit hierarchical numerical addresses that specify clearing banks, clearing systems, regions, large financial institutions, groups of financial institutions and ultimately resolve to individual branches.
The service is offered by 49 banks and building societies. [11] When a current account is opened with a new bank or building society, the Current Account Switch Service will transfer the old-account activity to the new one: moving incoming and outgoing payments, transferring the account balance, and closing the old account.