Nationwide Building Society has recently launched a service designed to help people claim unclaimed benefits, providing up to £550 in additional monthly financial support. The service is part of a wider initiative aimed at addressing issues like digital exclusion, making it easier for people to access financial assistance that may otherwise go unnoticed.
According to the Manchester Evening News, Nationwide’s new offering includes an online calculator and a phoneline, though details about the exact scope of the service remain limited. The program seeks to simplify the often complex process of applying for benefits, ensuring more individuals can receive the support they are entitled to.
A New Service to Tackle Unclaimed Benefits
Each year, around £23 billion worth of benefits go unclaimed in the UK, often due to complexities within the system. To address this, Nationwide has launched a service that includes both an online calculator and a free phoneline for anyone to use. This service aims to help people apply for the benefits they are eligible for, especially focusing on those who might face challenges with digital services.
Santander, like other major banks, has acknowledged the importance of accessible financial services, but Nationwide has taken a unique step by offering a dedicated phoneline, giving everyone, including those less digitally connected, the opportunity to benefit.
The Impact of the ‘Better Off’ Calculator
Since its launch in late June, 2,229 households have discovered they are eligible for an average of £554 extra per month, totaling over £1.2 million. This amount is comparable to the typical UK household’s monthly expenses for energy, council tax, water, insurance, and digital services. Nationwide is encouraging individuals to use this tool to potentially alleviate financial burdens, with Santander offering similar services but not providing a direct phoneline like Nationwide.
The £554 per month is seen as a crucial support that could cover essential household expenses, such as energy bills, water rates, and even insurance premiums. It highlights the substantial benefit that could be unlocked by simply accessing the right information and support.
Making the Process Accessible for Everyone
Nationwide’s service is designed with accessibility in mind. While the calculator is available online, Nationwide also offers a telephone service where experts can guide users through the process, ensuring that those who may not be comfortable with digital platforms have equal access to assistance. This dual approach is aimed at supporting a wider range of people.
In contrast, Santander has yet to offer a comparable, inclusive service that combines both online and telephone support to such an extent, underscoring the progressive nature of Nationwide’s offering.
Addressing the Barriers to Claiming Benefits
Nationwide and its partner, Policy in Practice, have identified three primary barriers that prevent people from claiming benefits: lack of awareness about eligibility, the complexity of forms and applications, and the stigma attached to receiving benefits. The initiative calls for reform, urging the government to simplify the process and make benefits more accessible.
Deven Ghelani, CEO of Policy in Practice, emphasised the importance of eliminating digital exclusion, particularly for those in social and economic disadvantage. He said:
Every year, £23 billion in benefits and support goes unclaimed because people don’t know what they’re eligible for, or they struggle to access online services. Digital exclusion often goes hand in hand with wider social and economic disadvantage. By partnering with Policy in Practice to offer an inclusive service, Nationwide is not only helping those most in need, it’s also meeting the growing expectation of customers and setting a benchmark for responsible banking.
Kathryn Townsend, Nationwide Head of Customer Vulnerability & Accessibility, added:
Millions of people across the UK are missing out on vital financial support they are entitled to simply because the system is too complex to understand and access. Our partnership with Policy in Practice means more people, including those who perhaps can’t or prefer not to use digital services, can get the help they need to increase their income. By offering the choice of an online process and a telephone call, we are hopefully making what can be a daunting and confusing experience that little bit simpler.
