Nationwide UK (Ireland)

The UK-based Nationwide Building Society has had a presence in Ireland since 24 March 2009, offering deposit accounts only. Accounts are available to Irish residents only and do not confer membership of the UK Building Society. Nationwide UK (Ireland) have a retail outlet in Merrion Row in Dublin city centre, however its business is mostly online, by post or by phone. Amongst the products offered to its customers is UK Sterling savings accounts[1] as well as Euro savings accounts.

It is regulated by the UK Financial Conduct Authority and the Prudential Regulation Authority. It is also a member of the UK Financial Services Compensation Scheme.[2]

Nationwide UK Ireland is not to be confused with the now defunct Irish Nationwide Building Society which was administered as part of the Irish Bank Resolution Corporation until the latter's liquidation in 2013.

Although regulated to trade in Ireland by the Central Bank of Ireland it is not part of the Irish governments bank guarantee scheme, although deposits(up to 85,000GBP) are guaranteed under the UK Governments Financial Services Compensation Scheme (FSCS) as it is also regulated by the Bank of England's Prudential Regulation Authority[3]

Nationwide UK Ireland is to close its doors in late 2017. Its office at 13 Merrion Row, Dublin 2 closed on 31 May 2017.

References

  1. ↑ Sterling Savings on offer at Nationwide www.irishexaminer.ie 10 May 2012
  2. ↑ Nationwide UK (Ireland) website (Retrieved 4 November 2010)
  3. ↑ Prudential Regulation Authority Bank of England website.


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