Do you need to move money from your Nationwide account to another bank, perhaps for a new savings account, a house deposit, or helping out a family member? It's a common task, but navigating transfer limits and understanding your options can sometimes feel like a maze. Don't worry, we're here to guide you through every step!
This comprehensive guide will break down everything you need to know about transferring funds from Nationwide to another bank, covering daily limits, different transfer methods, and important considerations.
Step 1: Understand the Different Types of Transfers and Their Limits
Before you even think about hitting that "send" button, it's crucial to understand that Nationwide, like all banks, has different limits based on the type of transfer you're making and how you're initiating it. This isn't just about security (though that's a big part of it!), but also about the underlying payment systems used.
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Faster Payments: This is the most common method for day-to-day transfers within the UK. It's designed for quick, often instant, transfers.
- Online or Mobile Banking (Internet Bank/Banking App): You can typically send up to £100,000 per transaction, with an overall daily limit of £100,000.
- Important Note: This limit can sometimes be reduced to £25,000 per day if you're paying a new recipient or someone you haven't paid many times before, or if you're setting up a standing order online. This is an extra security measure.
- In Branch: If you visit a Nationwide branch with valid ID, you can also send up to £100,000 per day, with a £25,000 limit per individual payment.
- Online or Mobile Banking (Internet Bank/Banking App): You can typically send up to £100,000 per transaction, with an overall daily limit of £100,000.
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CHAPS (Clearing House Automated Payment System): This is for very large, high-value payments, typically for sums exceeding the Faster Payments limits. CHAPS payments are designed to be same-day transfers (if initiated before the cut-off time).
- No Minimum or Maximum Limit: For CHAPS payments, there's no official maximum limit from Nationwide's side. This makes it ideal for large transactions like property purchases.
- Fee Applies: Unlike Faster Payments, CHAPS transfers usually incur a fee. As of May 2025, Nationwide charges £15 per CHAPS payment, unless you have a FlexBasic account.
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International Payments (SEPA and SWIFT): If you're sending money outside the UK, different rules and limits apply.
- No Limit (Generally): Nationwide does not impose a limit on how much you can send internationally via SEPA (for Euro payments within the SEPA zone) or SWIFT (for other international currencies).
- Fees and Exchange Rates: Be aware that international transfers can involve fees (e.g., £20 for SWIFT transfers, though this can be waived for some account types like FlexOne, FlexStudent, FlexGraduate, or refunded for FlexBasic to EEA payments in GBP) and exchange rate markups. The time it takes also varies by destination and currency.
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| How Much Can I Transfer From Nationwide To Another Bank |
Step 2: Gather the Necessary Information
Once you know which type of transfer you'll be making, you'll need to have the correct details for the recipient bank account. Accuracy is paramount here, as incorrect details can lead to delays or, worse, funds being sent to the wrong account.
QuickTip: Treat each section as a mini-guide.
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For UK Transfers (Faster Payments/CHAPS):
- Recipient's Full Name: As it appears on their bank account.
- Recipient's Account Number: (Usually 8 digits)
- Recipient's Sort Code: (Usually 6 digits, e.g., 12-34-56)
- Payment Reference: An optional but highly recommended detail to help the recipient identify the payment (e.g., "House Deposit," "Birthday Gift," "Invoice 123").
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For International Transfers (SEPA/SWIFT):
- Recipient's Full Name (or Company Name): And their complete address, including city, country, and postal code.
- Recipient's IBAN (International Bank Account Number) or Account Number: (IBAN is common in Europe).
- Recipient's Bank's Name and Address.
- Recipient's Bank's BIC (Bank Identifier Code) or SWIFT Code: (Unless sending euros within the SEPA Zone).
- Payment Reference.
Step 3: Choose Your Transfer Method and Initiate the Payment
Nationwide offers several convenient ways to make a transfer. Your choice will depend on the amount you're sending and your preference.
Sub-heading: Online Banking (Internet Bank)
- Ideal for: Most UK Faster Payments up to £100,000, and international transfers.
- Steps:
- Log In: Go to the Nationwide Internet Bank and log in securely using your credentials.
- Navigate to Payments: Look for a section like "Move Money," "Payments & Transfers," or "Make a Payment."
- Select Payment Type: Choose "Pay someone new" or "Pay a saved payee" if you've transferred to them before. For international, select "Make an international payment."
- Enter Details: Carefully input all the recipient's bank details (account number, sort code, reference, or international details). Double-check every digit!
- Enter Amount: Specify the amount you wish to transfer.
- Review and Confirm: A summary of your payment will be displayed. Take your time to review everything for accuracy.
- Authorise: You may need to authorise the payment using a card reader or by confirming via the Nationwide Banking App if you have biometric approval set up.
- Confirmation: You'll receive a confirmation once the payment is successfully initiated.
Sub-heading: Nationwide Banking App
- Ideal for: Quick, on-the-go UK Faster Payments up to £100,000 (though the £25,000 new payee limit might apply), and international transfers.
- Steps:
- Open and Log In: Launch the Nationwide Banking App and log in using your fingerprint, face recognition, or passnumber.
- Go to Payments: Tap on the "Payments" icon (usually at the bottom of the screen).
- Choose to Pay: Select "Pay someone" or similar.
- Enter Details: Input the recipient's details and the amount.
- Review and Confirm: Carefully verify all the information.
- Authorise with Biometrics: The app often uses facial recognition or fingerprint to confirm your identity for payments, making it very convenient.
- Confirmation: You'll get an in-app confirmation.
Sub-heading: In Branch
- Ideal for: Large UK Faster Payments (up to £100,000 per day, £25,000 per transaction), CHAPS payments (for sums over £100,000), or if you prefer face-to-face assistance.
- Steps:
- Visit a Branch: Locate your nearest Nationwide branch.
- Bring ID: You must bring valid photographic ID (e.g., passport, driving licence) and your Nationwide current account card.
- Provide Details: Inform the staff member of the transfer details. They will ask for all the recipient's bank information.
- Confirm and Sign: You'll need to confirm the details and likely sign a form to authorise the payment.
- Pay Fee (for CHAPS): If making a CHAPS payment, the fee will be applied.
- Confirmation: The staff will provide you with a receipt or confirmation of the transfer.
Sub-heading: Telephone Banking
- Ideal for: Those who prefer speaking to someone directly, or if you encounter issues with online/app banking.
- Steps:
- Call Nationwide: Use the official Nationwide contact number for banking services (e.g., 03457 30 20 11).
- Verify Identity: You will go through security checks to confirm your identity.
- Provide Details: Clearly state the recipient's bank details and the amount you wish to transfer.
- Authorise: You may need to authorise the payment verbally or by entering numbers on your phone keypad.
- Confirmation: The agent will confirm the transfer details with you.
Step 4: Understanding Transfer Times
How quickly your money arrives depends on the type of payment:
- Faster Payments: Usually arrive instantly or within a few hours (up to 2 hours in some cases). Payments made after 6:30 PM on a Friday, or on a Saturday, Sunday, or bank holiday, will typically be processed on the next working day, though the money may still leave your account immediately.
- CHAPS Payments: If initiated before the cut-off time (usually around 3 PM on a working day), they typically arrive on the same working day. Payments made after the cut-off time will arrive the next working day.
- International Payments:
- SEPA (Euros within SEPA Zone): Usually arrive the next working day.
- Other Currencies (SWIFT): Can take up to 4 working days for EEA or UK destinations, and more than 4 working days for destinations outside the EEA.
Step 5: What to Do if You Need to Transfer More Than the Limit
If your transfer amount exceeds Nationwide's standard Faster Payments limits, you have a couple of options:
Tip: Pause, then continue with fresh focus.
- Utilise CHAPS: As mentioned, CHAPS payments have no maximum limit from Nationwide's side and are designed for large sums. This is the most direct way to send very large amounts in a single transaction.
- Split the Payment: For amounts slightly over the Faster Payments limit, you could consider splitting the transfer into multiple payments over different days. For example, if you need to send £150,000 and the daily limit is £100,000, you could send £100,000 on one day and the remaining £50,000 the next. Be mindful of the £25,000 new payee limit if applicable.
- Contact Nationwide Directly: For very specific or complex high-value transfers, it's always best to contact Nationwide directly (via phone or in branch) to discuss your options and ensure a smooth transaction. They can provide guidance and potentially facilitate the transfer.
Step 6: Keep an Eye on Fees and Exchange Rates
While Faster Payments within the UK are generally free, always be aware of potential costs, especially for large or international transfers.
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- CHAPS Fee: Remember the £15 fee for CHAPS payments (unless you have a FlexBasic account).
- International Transfer Fees: SWIFT payments incur a £20 fee (though it can be waived for specific accounts or refunded in certain scenarios). SEPA payments are typically free of charge.
- Exchange Rate Markups: For international transfers, Nationwide (like many banks) applies an exchange rate markup. This means the rate you get will be slightly less favourable than the "mid-market" rate you see on Google. This can significantly impact the final amount received by the recipient, especially for large sums. Consider comparing with specialist money transfer services like Wise for potentially better rates and lower overall costs on international transfers.
10 Related FAQ Questions
Here are some frequently asked questions about transferring money from Nationwide to another bank:
How to find my Nationwide daily transfer limit?
Your standard daily Faster Payments limit with Nationwide is generally £100,000 when using online or mobile banking. However, this can be reduced to £25,000 for new payees or standing orders. You can usually see your specific limits within the online banking platform or app, or by contacting Nationwide directly.
QuickTip: Skip distractions — focus on the words.
How to increase my Nationwide transfer limit?
For amounts exceeding the Faster Payments limit, you'll need to use a CHAPS payment, which has no upper limit. To do this, you would typically need to visit a Nationwide branch or contact them by phone. There isn't a direct way to "increase" the Faster Payments limit beyond its set maximum for security reasons.
How to transfer a large sum of money from Nationwide?
For large sums (over £100,000), you should use a CHAPS payment. This can be arranged by visiting a Nationwide branch or contacting their customer service via phone. Be prepared to provide identification and all recipient details.
How to transfer money from Nationwide online?
Log in to your Nationwide Internet Bank account, navigate to the "Move money" or "Payments & Transfers" section, select "Make a payment," enter the recipient's details and amount, review, and confirm with your card reader or app authorisation.
QuickTip: Take a pause every few paragraphs.
How to transfer money from Nationwide using the app?
Open the Nationwide Banking App, log in securely, tap on "Payments," choose to "Pay someone," enter the details, review, and confirm using your device's biometric authentication (fingerprint/face ID) or passnumber.
How to send money internationally from Nationwide?
You can send international payments via the Internet Bank or Banking App by selecting "Make an international payment." You'll need the recipient's full name, address, IBAN/account number, and their bank's SWIFT/BIC code.
How to make a CHAPS payment with Nationwide?
CHAPS payments for large sums can be made in person at a Nationwide branch or by contacting them via telephone. You'll need to provide all the recipient's bank details and pay a £15 fee (unless you have a FlexBasic account).
How to check if my Nationwide transfer was successful?
You can check your transaction history in your Nationwide Internet Bank or Banking App to see if the payment has left your account. For Faster Payments, the recipient should receive it almost instantly. For CHAPS, it should arrive the same working day if sent before the cut-off.
How to cancel a Nationwide bank transfer?
Faster Payments and CHAPS payments are typically irreversible once initiated. If you made a mistake, contact Nationwide immediately. For scheduled payments (like standing orders), you can usually cancel or amend them before the payment date through online banking or the app.
How to get confirmation of a Nationwide transfer?
After making a transfer online or via the app, you'll usually receive an on-screen confirmation. For in-branch transfers, you'll get a receipt. You can also view your transaction history in your online banking or app for records of past payments.
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