Nationwide payments to banks delayed by IT glitch

All payments to and from the Nationwide Building Society to other building societies and banks are delayed.

It says direct debits and standing orders are working normally. Money can still be moved between Nationwide accounts, it added.

In a statement on its website it said it was “sorry for any problems this may cause.”

“We’re working to get things back to normal as quickly as we can”, the statement continued.

Nationwide says customers can continue to use their cards online and in shops, log-in to their banking apps, and withdraw money at cash machines.

The BBC is receiving reports of the impact the problems are causing, with one customer telling the BBC that he is unable to make payments which may affect his mortgage.

Richard Bagnall says he is attempting to transfer money to another building society in order redeem his mortgage today.

“It had to be today to avoid penalties,” he says, adding that it is the final day of his mortgage’s fixed interest rate.

The website showed a “technical error” when he attempted the transfer – but did not suggest that the payment was in a queue, he says.

According to the website Downdetector, reports of issues began at around 02:00 this morning.

Nationwide, founded in 1884, is the largest building society in the UK.

The firm is currently trying to buy Virgin Money in a £2.9bn deal which would create the UK’s second largest mortgage and savings group.

The BBC has contacted Nationwide for comment.