How to Change Your Account Type with Nationwide: A Comprehensive Guide
Ever feel like your current bank account isn't quite cutting it anymore? Perhaps your financial needs have evolved, or you've spotted a Nationwide account that offers benefits perfectly aligned with your lifestyle. You're not alone! Many people find themselves in this exact position. The good news is, changing your account type with Nationwide is a straightforward process, designed to be as seamless as possible for their members.
This lengthy guide will walk you through every step of changing your Nationwide account type, whether you're looking to upgrade to a packaged account, switch to a different standard current account, or even convert a joint account to a sole one (or vice versa!).
Step 1: Identify Your Needs and Explore Nationwide's Account Offerings
Before you even think about initiating a change, the most crucial first step is to understand what you need from your bank account and then explore Nationwide's various options. Don't just jump into a new account because it sounds good; consider your daily banking habits, financial goals, and what features are truly important to you.
Sub-heading: What are you looking for in a new account?
- Do you want to earn interest on your balance? Some accounts offer attractive in-credit interest rates.
- Are you frequently travelling? Accounts with no foreign transaction fees can save you a significant amount.
- Do you need insurance benefits? Packaged accounts often come with travel, mobile phone, and breakdown cover.
- Are you looking for a simple, fee-free account? Nationwide has options designed for everyday banking without monthly charges.
- Are you a student or recent graduate? Specific accounts cater to these demographics with tailored benefits like interest-free overdrafts.
- Do you want to manage your account primarily online, through an app, or do you prefer branch access? Different accounts offer varying levels of access.
Sub-heading: Familiarise yourself with Nationwide's popular current accounts:
Nationwide offers a range of current accounts, each with distinct features. Here's a brief overview of some common ones you might consider:
- FlexAccount: Their everyday, fee-free current account. Great for general banking with unlimited access.
- FlexDirect: A self-service account often offering attractive in-credit interest for the first 12 months, and sometimes cashback on debit card purchases. Best for those who manage their banking online or over the phone.
- FlexPlus: A packaged account with a monthly fee, offering comprehensive benefits like worldwide travel insurance, mobile phone insurance, and UK and European breakdown cover. Ideal for those who value these bundled insurances and benefits.
- FlexBasic: A basic bank account for individuals who may not qualify for other current accounts or don't hold another UK current account. Provides essential banking services.
- FlexStudent / FlexGraduate: Accounts tailored for students and graduates, often including interest-free arranged overdrafts. These accounts typically transition to a standard FlexAccount or FlexDirect after a set period.
- FlexOne: A children's bank account for 11-17 year olds, which can then transition to an adult account.
Pro Tip: Visit the "Compare our everyday current accounts" section on the Nationwide website. This is an invaluable resource for a side-by-side comparison of features, fees, and eligibility criteria.
Step 2: Check Eligibility and Gather Necessary Information
Once you've narrowed down your choice, it's crucial to confirm you meet the eligibility requirements for the new account type. Don't skip this step! Applying for an account you're not eligible for can be a waste of time and potentially impact your credit score.
Sub-heading: Common Eligibility Criteria:
- Age: Most adult current accounts require you to be 18 or over. Student accounts have specific age and course requirements.
- Residency: You generally need to be a UK resident.
- Existing Accounts: Some accounts may have restrictions on how many Nationwide accounts you can hold.
- Credit Checks: For accounts with overdraft facilities or certain benefits, Nationwide will typically conduct a credit check.
- Deposit/Income Requirements: Some accounts (like FlexDirect's interest offer) might require a minimum monthly pay-in.
Sub-heading: Information You Might Need:
While the process is often streamlined for existing Nationwide members, it's always good to have the following handy:
- Your existing Nationwide account details: Account number and sort code.
- Personal details: Full name, date of birth, address history for the past 3 years.
- Employment details: Your employer's name and address (if applicable).
- Proof of ID and Address: While often not needed for existing members switching within Nationwide's current accounts, if there are any verification issues, or if you're a new customer, you might be asked for a valid UK passport, full UK driving licence, or other accepted proofs of name and address.
Step 3: Initiate the Account Type Change
Nationwide provides several convenient ways to change your account type. The method you choose might depend on your preference and the specific account you're switching to.
Sub-heading: Option A: Online via Nationwide Internet Bank or Banking App (Recommended for most current account changes)
This is often the quickest and easiest method for changing between current account types (e.g., FlexAccount to FlexDirect, or vice versa).
- Log In: Access your Nationwide Internet Bank account or log in to your Nationwide Banking App.
- Navigate to Account Management: Look for a section like "Products & Applications," "Current Accounts," or "Manage my account."
- Find the "Change Account Product" Option: Nationwide often has a clear option to "change your existing Nationwide current account to a different product type." They even have interactive demos online to guide you.
- Select Your Desired Account: Choose the new account type you wish to switch to from the available options.
- Follow the On-Screen Prompts: You'll be guided through the application process, which will typically involve confirming your details and agreeing to the new account's terms and conditions.
- Review and Confirm: Carefully review all the information before submitting your application.
Sub-heading: Option B: Via Telephone Banking
If you prefer to speak to someone or have specific questions during the process, telephone banking is a good alternative.
- Call Nationwide: Find the appropriate phone number for current account services on the Nationwide website.
- Verify Your Identity: Be prepared to answer security questions to confirm your identity.
- Explain Your Request: Inform the customer service representative that you wish to change your existing Nationwide account type.
- Discuss Options and Eligibility: They can guide you through the available accounts, confirm your eligibility, and answer any questions you may have.
- Complete the Application: The representative will walk you through the application over the phone.
Sub-heading: Option C: In Branch
For those who prefer a face-to-face interaction or have complex circumstances, visiting a Nationwide branch is always an option.
- Locate Your Nearest Branch: Use the branch finder on the Nationwide website.
- Bring Necessary ID (Just in Case): Although often not strictly required for internal switches, having a valid photo ID (like a passport or driving licence) and proof of address can prevent any delays.
- Speak to a Member of Staff: Explain that you wish to change your account type.
- Receive Assistance: A branch advisor will guide you through the options, check your eligibility, and help you complete the application form.
Step 4: Understanding the Account Change Process
Once you've initiated the change, there are a few important things to be aware of regarding how your existing account transitions to the new one.
Sub-heading: What Happens to Your Existing Account and Payments?
- Seamless Transition: For internal switches (changing from one Nationwide current account to another), the process is designed to be very smooth. Your account number and sort code will generally remain the same.
- Direct Debits and Standing Orders: Your existing Direct Debits and Standing Orders should automatically continue to operate from your new account type without interruption.
- Debit Card: In most cases, your existing debit card will continue to work. However, some account types may require a new card to be issued to reflect new features or branding. Nationwide will inform you if a new card is on its way.
- Online Banking and App Access: Your access to the Internet Bank and Banking App will typically remain unchanged, with the new account type simply appearing in your list of accounts.
- Benefits and Fees: The benefits and any associated fees of your new account type will commence once the change is complete. Make sure you're aware of these from the outset.
Sub-heading: Timeline for the Change:
The time it takes for the account type change to be fully processed can vary. Often, for simple current account changes initiated online or via the app, it can be quite quick, sometimes almost instant, or within a few business days. If you're using the Current Account Switch Service (primarily for switching from another bank to Nationwide, or vice-versa, but sometimes referenced in internal switches), it's guaranteed to be completed within 7 working days. For internal changes, it's typically faster.
Step 5: Confirmation and Enjoying Your New Account
After your application is processed, Nationwide will confirm that your account type has been successfully changed.
Sub-heading: Receiving Confirmation:
- You'll likely receive a confirmation message in your Internet Bank or Banking App.
- You may also receive a letter or email confirming the change and providing details about your new account type.
- If a new debit card is being issued, it will arrive separately in the post.
Sub-heading: Verifying Your New Account:
- Log in to your Nationwide Internet Bank or Banking App to see your updated account type.
- Familiarise yourself with any new features, benefits, or terms associated with your chosen account.
- If you're upgrading to a packaged account like FlexPlus, ensure you understand how to activate and utilise the included insurances and benefits.
Step 6: Review and Adjust (If Necessary)
Even after the switch, it's a good idea to monitor your account for a short period to ensure everything is running smoothly.
- Check transactions: Verify that all your regular payments (Direct Debits, standing orders) are still going out as expected.
- Monitor fees/interest: Confirm that any new fees are being applied correctly, or that interest is being earned as anticipated.
- Utilise new features: Start taking advantage of any new benefits your account offers.
10 Related FAQ Questions
Here are 10 frequently asked questions, starting with "How to," along with quick answers to further assist you:
How to check my current Nationwide account type?
You can easily check your current Nationwide account type by logging into your Internet Bank or Banking App. Your account details, including the type, will be clearly displayed.
How to change a Nationwide FlexAccount to a FlexDirect?
You can typically change your FlexAccount to a FlexDirect online via the Nationwide Internet Bank or Banking App by navigating to the "Products & Applications" or "Change current account product" section.
How to change a Nationwide FlexDirect to a FlexPlus?
Similar to other internal switches, you can usually change your FlexDirect to a FlexPlus through your Nationwide Internet Bank or Banking App, or by contacting them via phone or visiting a branch. Be aware of the monthly fee for FlexPlus.
How to change a Nationwide student account to an adult account?
Nationwide typically automatically converts FlexStudent accounts to FlexGraduate (if applicable) and then to a FlexAccount or FlexDirect after you graduate, or when you reach a certain age/period of holding the student account. You will be notified of this transition.
How to change a Nationwide joint account to a sole account?
To change a joint account to a sole account, both account holders generally need to agree and sign a "Removal of Account Holder" form. This form can be downloaded from the Nationwide website or obtained in branch, and usually needs to be returned to a branch.
How to change a Nationwide sole account to a joint account?
You can change a sole Nationwide account to a joint account by adding another person. This can often be done by calling Nationwide, or by applying for a new joint account online and then selecting the option to link an existing account. Both parties will need to be involved in the process.
How to know if I am eligible for a specific Nationwide account?
Nationwide's website has dedicated pages for each current account type, detailing the specific eligibility criteria. You can also confirm eligibility during the online application process or by speaking to a Nationwide representative.
How to switch from another bank to Nationwide?
To switch from another bank to Nationwide, you'll generally use the Current Account Switch Service. You apply for the desired Nationwide account, and during the application, you'll choose to switch your old account. Nationwide will handle the transfer of all payments and closure of your old account, guaranteed within 7 working days.
How to transfer money between my existing Nationwide accounts?
You can transfer money between your existing Nationwide accounts instantly via the Banking App, Internet Bank ("Quick transfer" feature), telephone banking, or at a Nationwide cash machine.
How to get help if I encounter issues changing my Nationwide account type?
If you encounter any issues, the best course of action is to contact Nationwide directly. You can use their 24/7 chat service in the Internet Bank or Banking App, call their customer service line, or visit your local branch for assistance.
