It sounds like you're looking to close your Nationwide account. That's a common need, and while it might seem a bit daunting, I can assure you it's a straightforward process when you know the steps. Let's get you through this smoothly!
Your Step-by-Step Guide to Closing a Nationwide Account
Closing a bank account, whether it's a current account, savings account, or even an ISA, requires a bit of preparation to avoid any snags. This guide will walk you through everything you need to do, from the initial considerations to the final confirmation.
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| How Do I Close A Nationwide Account |
Step 1: Let's Think Together: Why Are You Closing Your Nationwide Account?
Before we dive into the "how," take a moment to consider why you're closing your Nationwide account. Are you:
- Moving to another bank for better features or rates?
- Consolidating accounts?
- No longer needing the type of account you have?
- Experiencing dissatisfaction with Nationwide?
Understanding your reason can help tailor some of the later steps. For instance, if you're moving to a new bank, the "Current Account Switch Service" (CASS) might be your best friend!
Step 2: Preparing for Account Closure – The Essential Groundwork
This is arguably the most crucial step. Rushing can lead to missed payments or direct debits, which can be a real headache.
Sub-heading 2.1: Reviewing Your Account Activity
Go through your Nationwide statements for the last 12-18 months. This will give you a comprehensive overview of:
- Regular incoming payments: This includes your salary, benefits, pensions, or any other regular deposits.
- Direct Debits: Think utility bills, subscriptions (Netflix, gym), loan repayments, or insurance premiums.
- Standing Orders: These are regular fixed payments you've set up, like rent or transfers to another savings account.
- Cheques: Have you issued any cheques that haven't cleared yet?
- Future-dated payments: Do you have any payments scheduled for later dates?
Action Item: Make a comprehensive list of all these items. This list will be vital for the next steps.
Tip: Take mental snapshots of important details.
Sub-heading 2.2: Updating Your Payment Information
Once you have your list, it's time to inform everyone who pays you or takes money from your Nationwide account about your new banking details.
- Employers/Pension Providers: Provide them with your new bank account details well in advance of your next payday.
- Government Benefit Agencies: If you receive benefits, update your details with the relevant government department.
- Friends/Family: Inform anyone who regularly sends you money.
Remember: Do not close your Nationwide account until you are absolutely certain all incoming payments have been successfully redirected to your new account.
Sub-heading 2.3: Managing Direct Debits and Standing Orders
This is where many people encounter issues.
- Direct Debits:
- If you're using the Current Account Switch Service (CASS) (more on this below), this will be handled automatically.
- If not, you'll need to contact each individual company (e.g., your energy provider, mobile phone company) and provide them with your new bank details. Do this before you close your Nationwide account.
- Alternatively, you can set up the direct debits on your new account, and then once they are active, cancel them from your Nationwide account.
- Standing Orders:
- These are usually easier to manage. Simply set them up again from your new bank account and then cancel them on your Nationwide account.
Pro Tip: Give yourself ample time for this. Some companies take longer to update details than others.
Sub-heading 2.4: Transferring Remaining Funds
Ensure you've transferred all the money from your Nationwide account to your new account. Leave a small buffer if you anticipate any final, small payments.
Sub-heading 2.5: Considering Overdrafts and Loans
- Overdraft: If you have an overdraft on your Nationwide account, you will need to clear it before you can close the account. Contact Nationwide to discuss repayment options if you're unable to do so immediately.
- Loans/Mortgages: If you have a loan or mortgage with Nationwide that is linked to your current account for repayments, you'll need to set up a new direct debit from your new bank account. This is crucial to avoid missed payments.
Step 3: Choosing Your Closure Method
Nationwide offers a few ways to close your account.
QuickTip: Slow down when you hit numbers or data.
Sub-heading 3.1: The Current Account Switch Service (CASS) – The Easiest Option for Current Accounts
If you're opening a new current account with another bank and want to transfer all your Direct Debits, Standing Orders, and incoming payments automatically, the Current Account Switch Service is highly recommended.
- How it works: Your new bank initiates the switch. They handle transferring all your payments, redirecting incoming funds, and notifying companies for you. Your Nationwide account will be closed automatically on a date you agree upon.
- Benefits: It's free, guaranteed to be completed within 7 working days, and offers a redirection service for 36 months to catch any stray payments.
- Who it's for: Primarily for current accounts. Some banks may offer a version for ISAs or savings accounts, but CASS is specifically designed for current account transfers.
Action Item: If this applies to you, simply contact your new bank and tell them you want to use the Current Account Switch Service. They'll guide you through their process.
Sub-heading 3.2: Closing Directly with Nationwide – For Other Accounts or Manual Closures
If you're not using CASS (e.g., closing a savings account, or manually closing a current account without switching), you'll need to contact Nationwide directly.
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Option A: Online Banking/App (if available for your account type):
- Log in to your Nationwide online banking or mobile app.
- Look for an option to "Close account" or "Manage accounts." The availability of this feature depends on the specific account type and Nationwide's current policies.
- Follow the on-screen instructions. You'll likely need to transfer any remaining balance out first.
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Option B: By Phone:
- Call Nationwide's customer service. You can find their contact number on their official website or on your account statements.
- Be prepared to verify your identity (account number, sort code, personal details, security questions).
- Clearly state that you wish to close your account. They will guide you through the process, confirm the balance, and arrange for the transfer of any remaining funds.
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Option C: In Branch:
- Visit your local Nationwide branch.
- Bring photo ID (passport or driving licence) and your Nationwide debit card/passbook (if applicable).
- A staff member will assist you with the closure. This is often the quickest method if you have a branch nearby and want face-to-face assistance.
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Option D: By Post (Less Common, but an option):
- You can write a letter to Nationwide requesting to close your account.
- Include your full name, address, account number, sort code, and a clear instruction to close the account.
- State where you want any remaining balance to be transferred (new bank account details).
- Send it by recorded delivery for proof of postage.
- The address for correspondence can usually be found on their website or your statements.
Important Note: Before initiating the closure, ensure your account balance is zero or that you've instructed Nationwide on where to transfer any remaining funds.
Step 4: Confirmation of Closure
Once you've submitted your request, you'll want to ensure the account has been successfully closed.
- For CASS: Your new bank will confirm when the switch is complete and your old Nationwide account has been closed. You'll also receive a confirmation from Nationwide.
- For Direct Closures:
- Check your new bank account: Verify that any transferred funds have arrived.
- Nationwide confirmation: Nationwide should send you a letter or email confirming the closure of your account. Keep this for your records.
- Attempt to log in: After a reasonable period (a few days to a week), try to log in to your Nationwide online banking for the closed account. You should find that you can no longer access it or that it shows as closed.
Crucial Step: Once you receive confirmation, consider shredding your Nationwide debit card, chequebook, and any old statements that contain sensitive information.
QuickTip: Read a little, pause, then continue.
Step 5: Final Checks and What to Do If There's a Problem
Even with careful planning, sometimes things go wrong.
- Monitor your new account: For the first few weeks, closely monitor your new account to ensure all expected payments (both incoming and outgoing) are now processing correctly.
- Redirection Service (CASS): If you used CASS, Nationwide will redirect any payments made to your old account for a further 36 months. You'll usually be notified of any such redirections.
- Contact Nationwide if issues arise: If a Direct Debit or Standing Order is missed, or a payment goes astray, contact the company involved and Nationwide immediately to rectify it.
- Keep Records: Retain any confirmation letters, emails, and your initial list of payments and direct debits.
10 Related FAQ Questions (Starting with 'How to')
Here are some quick answers to common questions about closing a Nationwide account:
How to close a Nationwide current account?
You can close a Nationwide current account using the Current Account Switch Service (CASS) if switching to a new bank, or by contacting Nationwide directly via phone, in branch, or sometimes online, after ensuring all payments are redirected and the balance is zero.
How to close a Nationwide savings account?
To close a Nationwide savings account, transfer all funds out, and then contact Nationwide via phone, in branch, or sometimes through their online banking/app.
How to close a Nationwide ISA?
To close a Nationwide ISA, you typically need to transfer the funds to another ISA provider (an ISA transfer) to maintain its tax-free status, or withdraw the funds, then request closure via phone or in branch.
How to transfer money out of Nationwide before closing?
You can transfer money out of Nationwide through online banking, the mobile app, by phone, or by withdrawing cash in a branch. Ensure the funds are cleared before initiating closure.
QuickTip: Focus on one line if it feels important.
How to find my Nationwide account number and sort code?
Your Nationwide account number and sort code can be found on your debit card, bank statements, within your online banking portal or mobile app, or by calling Nationwide customer service.
How to check if my Nationwide account is closed?
You can check if your Nationwide account is closed by attempting to log into your online banking (it should be inaccessible or show as closed), or by waiting for a confirmation letter or email from Nationwide.
How to manage direct debits when closing Nationwide account?
If using CASS, direct debits are automatically switched. Otherwise, you must individually inform each company about your new bank details or set them up on your new account and then cancel them on your Nationwide account.
How to close a Nationwide account if I have an overdraft?
You must clear any outstanding overdraft balance on your Nationwide account before it can be closed. Contact Nationwide to discuss repayment options if needed.
How to get a final statement from Nationwide after closing?
Nationwide should send you a final statement after your account is closed. If not, you can request one by contacting their customer service.
How to ensure all payments are switched from my old Nationwide account?
Utilize the Current Account Switch Service (CASS) for current accounts, which guarantees all payments are redirected. For manual closures, meticulously check statements and inform all payees and billers of your new details.
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