Nationwide and Virgin Money have confirmed that customers can now use a free online tool to check for unclaimed benefits, which has so far identified an average of £555 a month in additional income for eligible households. The Better Off Indicator, launched by Nationwide last year and now extended to Virgin Money customers, has uncovered £115 million in extra annual financial support for households across the UK.
How the Better Off Indicator works
The tool helps people discover benefits and other financial support they may be entitled to but are not currently claiming. It can be accessed online, through the Nationwide mobile app, by phone, or in branch. The service is designed to help customers understand what support may be available from the Department for Work and Pensions (DWP) without having to navigate the system alone.
Kathryn Townsend, head of customer vulnerability at Nationwide, said: “Too many people are missing out on financial support simply because they don't realise they're eligible or find the system difficult to navigate. At a time when many households are struggling to make ends meet, even a relatively small increase in income can make a real difference.”
Expanding access to more customers
Townsend added: “We're helping remove barriers and making it easier for everyone to access the support they may be entitled to. Expanding the service to Virgin Money customers means even more people will be able to benefit from free, personalised support.” The move follows Nationwide's acquisition of Virgin Money, which was completed earlier this year.
The tool has already identified an average of £555 a month in potential additional income for eligible households. Nationwide has branches in Birmingham and across the West Midlands, where the service is available to customers.
What you need to use the calculator
Before using the calculator, customers should have details of their income, including wages, pensions, benefits, and tax credits, as well as their partner’s income if they live with someone as a couple. They should also have information on any savings, investments, or other money they hold.
Other useful details include how much they pay for rent or their mortgage, their annual Council Tax amount and any discounts or exemptions they receive, and information about anyone else living with them, such as adult children, and their income. Customers are also reminded to state whether anyone receives Carer’s Allowance for looking after them or someone else in their home.
The Better Off Indicator is part of Nationwide's efforts to support vulnerable customers and improve financial wellbeing. The service is free and available to all eligible customers, with the aim of helping households claim the support they are entitled to.
