Nationwide issues £336 warning to customers buying Christmas presents this year

Nationwide has issued a warning to customers who are sending Christmas gifts - as it tries to encourage them to swap presents for charitable donations instead. Four in ten Brits would consider swapping Christmas presents for charity donations, Nationwide says.

And research from the building society shows teachers, friends, work colleagues and pets among those most likely to miss out on a gift. Nationwide’s partnership with Action for Children forms part of its social impact programme, Fairer Futures.

One in three children in the UK (4.3 million) live in poverty. Britain’s biggest building society is helping the charity provide practical and emotional support to 100,000 children, young people, and parents facing financial hardship.

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The charity’s Secret Santa campaign encourages donations which could fund giving a vulnerable child warm winter clothes, a hot meal, or a trip to visit Santa. While close to half (47%) of Brits say they expect this Christmas to be their most expensive ever - with an average anticipated spend of £309 - around half (49%) say they think the Christmas message of giving has been lost in recent years.

Christmas spending varies significantly between generations. At the top of Santa’s ‘big spenders’ list are Millennials, who plan to splash out £336 on average. Gen Z will spend a more reserved £244. By comparison, Baby Boomers expect to spend £312.

Charlotte Kensett, Director of Social Impact at Nationwide, said: “Christmas is a time for giving – not just to friends and family, but also to charity. We appreciate that everyone is impacted by the high cost of living, but if they can, we encourage anyone who can to support Action for Children’s Secret Santa campaign to give vulnerable children and families hope and support at this time of year. As a mutual, we work for the good of society as well as for the good of our members. Our social impact programme Nationwide Fairer Futures aims to change hundreds of thousands of lives for the better.”

Katherine Woods, Director of fundraising at Action for Children, said: “This year, with the cost-of-living crisis continuing to hurt too many children and leaving them extremely vulnerable, Action for Children’s frontline staff all over the country will be needed more than ever.

“They see children without a bed sleeping on the floor with just blankets, families phoning them crying because they have no money to feed their children. It’s heartbreaking - and it doesn’t stop because it’s Christmas. By becoming a Secret Santa for Action for Children, your support could help stop a child from going hungry, make sure they have a Christmas present, and help keep them warm.”