The year to 4 April 2013 saw Nationwide open over 365,000 new current accounts while 123,000 customers switched their main banking relationship, up 58 per cent on last year. The Society's total current account base has risen to 5.2 million and its market share of main standard and packaged accounts is 5.7 per cent, up from 5.1 per cent in 2012.

It is also enjoying success on the mobile banking front. In November 2012, Nationwide launched its mobile banking app and this has been downloaded by over 500,000 members and is being used on an average daily basis by over 100,000 members to access and transact on their accounts.

Chris Rhodes, Nationwide’s executive director, says: “Dissatisfaction with the big banks is leading people to vote with their feet. We opened new current accounts at a rate of one thousand per day over the last year and many of these were people switching from another provider. These results show that Nationwide really is the main challenger to the big banks. It’s never been easier to switch current accounts. Our dedicated account transfer team switch customers’ direct debits and standing orders for them, while keeping them informed of progress via text alerts. We have great products and a strong reputation for excellent service. We hope this will lead to many more people divorcing their banks and starting a new relationship with Nationwide.”

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