Building society bosses change approach to N&P current account closures

Bosses at Norwich and Peterborough Building Society have dropped a deadline for customers to close their accounts.

Saturday, 8th July 2017, 9:00 am
Updated Tuesday, 12th September 2017, 12:02 pm
Norwich and Peterborough Building Society, Peterborough.

Yorkshire Building Society, which owns the N&P, announced six months ago it was axing the N&P brand and doing away with the N&P current accounts.

Initial letters sent to some N&P current account holders gave them until August 31 this year to close or switch their account.

There were 100,000 N&P current account holders and just under half have so far switched, closed or have begun the process of closing their accounts.

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A spokeswoman said: “In the first letters we sent to customers in February, we asked them to close or switch their account by 31 August, six months after the date of their letter. We have spread out our mailings to ensure customers get the best possible experience when closing or switching their account. It is fair to give all customers the same time to close or switch so are asking them to close or switch within six months rather than setting a final deadline.”

“So far, we’ve written to around 70 per cent of the N&P current account customers.

“Just under half of the customers we have contacted have switched or closed their account, or have begun the process of doing so.”

“We’re writing to customers with details of what they need to do next, and asking that customers complete the closure or switch of their account within six months of receiving their letter. We have not set a final date for closure.

“If a customer has not taken steps to close or switch their account within six months of receiving of their letter, we will work closely with the customer on a case-by-case basis to facilitate a switch or closure.

“Current account customers who would like to discuss closing or switching their account can call our contact centre on 0345 300 2511 or pop into any branch. Customers who are registered for internet banking can also get in touch via our secure email messaging service.”