Ready to take control of your finances and join a building society that puts its members first? Nationwide Building Society offers a range of current accounts, savings, and mortgages, all designed with you in mind. This comprehensive guide will walk you through everything you need to know about joining Nationwide, from understanding their unique member-first approach to the step-by-step application process.
Why Choose Nationwide? The Member Advantage
Before we dive into the "how," let's briefly touch upon the "why." Nationwide isn't a traditional bank; it's a building society. This means they are owned by their members, not external shareholders. This fundamental difference translates into several unique benefits:
- Profit Sharing: Nationwide shares its profits with eligible members, often in the form of a "Fairer Share Payment."
- Member-Only Products: You'll gain access to exclusive savings accounts, credit cards, and loans not available to the general public.
- A Voice in the Society: Members have the opportunity to vote at their Annual General Meetings (AGMs), influencing the direction of the society.
- Customer-Centric Approach: Their focus is on providing excellent service and competitive products to benefit their members, rather than maximizing shareholder returns.
Now, let's get you set up!
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| How To Join Nationwide Bank |
Step 1: Discover Your Nationwide Account Needs
Are you ready to explore the world of Nationwide accounts? This initial step is all about understanding what kind of account best suits your financial lifestyle. Nationwide offers a variety of current accounts, each with its own features and benefits.
Sub-heading: Understanding Nationwide's Current Accounts
Nationwide's main current accounts include:
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- FlexPlus: This is their packaged bank account, offering a suite of benefits like worldwide family travel insurance, mobile phone insurance, and UK and European breakdown cover, for a monthly fee. It's ideal if you frequently travel or want comprehensive insurance.
- FlexDirect: A self-service account that pays you to bank with them. It often comes with an attractive interest rate on in-credit balances and cashback on debit card purchases for a limited period. This is a great option if you maintain a positive balance and use your debit card frequently.
- FlexAccount: Their everyday bank account with no monthly fee. It's a straightforward option for managing your daily finances without extra frills.
- FlexOne: Designed for 11- to 17-year-olds, offering interest and tools to help manage money.
- FlexStudent: For students aged 18 or over, this account offers an interest-free arranged overdraft to assist with university expenses.
- FlexBasic: A basic bank account for those who don't hold another UK current account or don't qualify for other accounts. It has no monthly fee.
Action: Take a moment to consider your current financial habits. Do you need insurance, or are you looking for interest on your balance? Do you prefer to bank primarily online, or do you value branch access? This self-assessment will guide your choice.
Step 2: Check Your Eligibility – The Foundation of Your Application
Before you jump into applying, it's crucial to ensure you meet Nationwide's eligibility criteria. This will save you time and effort in the long run.
Sub-heading: General Eligibility for Adult Current Accounts
For most adult current accounts, you'll generally need to:
- Be 18 years or older.
- Be a UK resident.
While these are the basic requirements, specific accounts might have additional criteria. For instance, the FlexStudent account requires you to be a student.
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Sub-heading: Required Documentation for Verification
To verify your identity and address, Nationwide will typically require:
- Proof of Identity: A valid UK passport or a full UK driving licence are the preferred documents. If you don't have these, you might need to visit a Nationwide branch with alternative proof of your name and address.
- Proof of Address: This could be a recent utility bill, council tax statement, or bank statement (from another bank) showing your current address.
- Address History: You'll need to provide your address history for the past 3 years.
- Employer's Address (if employed): If you are employed, you'll need your employer's address.
It's important to have these documents readily available, as they will streamline your application process.
Step 3: Choose Your Application Method – Online, App, or In-Branch
Nationwide offers several convenient ways to apply, allowing you to choose the method that best suits your preference and circumstances.
Sub-heading: Applying Online for Speed and Convenience
Most Nationwide current accounts can be opened online, either through their website or the mobile banking app. This is often the quickest and most convenient method.
Tip: Focus on clarity, not speed.
- Visit the Nationwide Website: Navigate to the "Current Accounts" section on the official Nationwide website (www.nationwide.co.uk).
- Select Your Chosen Account: Click on the specific account you wish to open (e.g., FlexDirect, FlexAccount).
- Start Your Application: Look for the "Apply Online" or "Open Account" button.
- Complete the Application Form: You'll be guided through a series of questions about your personal and financial circumstances. This typically takes around 10-15 minutes.
- Provide Documentation (if requested): In some cases, you might be asked to upload scans or photos of your identification and address proof. Nationwide aims to verify your identity electronically, but if they can't, they'll let you know if you need to visit a branch.
- Review and Submit: Carefully review all the information you've provided before submitting your application.
Sub-heading: Using the Nationwide Mobile Banking App
If you're already a Nationwide member, you can often apply for a new current account directly through their mobile Banking app.
- Download the App: If you haven't already, download the "Nationwide Banking App" from your device's app store (Google Play Store for Android or Apple App Store for iOS).
- Log In: Log in to your existing Nationwide account.
- Navigate to Products & Applications: Look for a section like "Products & Applications" or "Open a new account."
- Select Current Accounts: Choose the current account that aligns with your needs.
- Follow On-Screen Prompts: The app will guide you through the application process, similar to the online method.
Sub-heading: In-Branch Application for Personal Assistance
If you prefer a more personal touch or have complex circumstances, applying in a Nationwide branch is a great option. This is also necessary if you don't have the standard forms of ID (UK passport or driving license) for online verification.
- Find Your Nearest Branch: Use the "Branch Finder" tool on the Nationwide website to locate a branch near you.
- Gather Your Documents: Ensure you bring all required identification and address proof documents. It's always a good idea to bring more than one form of ID.
- Visit the Branch: A Nationwide representative will assist you with completing the application form and verifying your documents in person. They can also answer any questions you may have.
Step 4: The Verification Process – Ensuring Security
Once you've submitted your application, Nationwide will begin their verification process. This is a standard procedure for all financial institutions to comply with anti-money laundering regulations and protect both you and the bank.
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Sub-heading: Electronic Verification and Credit Checks
- Automated Checks: Nationwide will often attempt to verify your identity and address electronically using information from credit reference agencies. This also involves a credit check, regardless of whether you're applying for an overdraft, to confirm your identity.
- Important Note: A credit check will be performed, which may leave a footprint on your credit file. However, this is a standard part of opening a bank account and generally has a minimal impact on your credit score.
Sub-heading: Potential Need for Further Information
- In-Branch Visit: If the online verification is unsuccessful, Nationwide will notify you that you need to visit a branch with your original documents for in-person verification.
- Additional Documents: In some rare cases, they might request further documentation, such as payslips or proof of income, especially if you're applying for an overdraft or specific products.
Step 5: Account Activation and Welcome Pack
Congratulations! Once your application is approved and verified, you're officially a Nationwide member.
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Sub-heading: Receiving Your Account Details
- Welcome Email/Letter: You'll typically receive a welcome email or letter confirming your account has been opened and providing your account number and sort code.
- Debit Card and PIN: Your debit card and PIN will usually be sent separately for security reasons, arriving within a few working days.
- Online Banking Access: If you applied online, you'll likely be automatically registered for online banking, and your login details will be sent in the post. If you applied in-branch or over the phone, you may need to register for online banking separately after your account is open.
Sub-heading: Setting Up Your Online and Mobile Banking
- Internet Bank Registration: Follow the instructions in your welcome pack to register for Nationwide's Internet Bank if you haven't been automatically registered. You'll need your account number and sort code, or other relevant account details.
- Mobile Banking App Setup: Once registered for online banking, you can easily set up the mobile banking app using your login credentials. The app offers features like viewing balances, making payments, setting up savings goals, and managing your card.
Step 6: Funding Your Account and Making the Switch (Optional)
Now that your account is active, it's time to put it to use!
Sub-heading: Making Your First Deposit
- Bank Transfer: You can easily transfer funds from another bank account into your new Nationwide account using the sort code and account number provided.
- Cash/Cheque Deposit: You can deposit cash or cheques at any Nationwide branch or Post Office.
Sub-heading: Utilizing the Current Account Switch Service (CASS)
If you're moving your main bank account to Nationwide, the Current Account Switch Service (CASS) makes the process seamless and stress-free.
- Initiate the Switch: During your application, or at any time after opening your Nationwide account, you can request a full switch using CASS.
- Seven Working Days: The entire process typically takes just seven working days.
- Automatic Transfers: All your incoming and outgoing payments (Direct Debits, standing orders, and salary) will be automatically transferred to your new Nationwide account.
- Balance Transfer: Any remaining balance from your old account will be moved to your new Nationwide account.
- Protection: The Current Account Switch Guarantee protects you in the unlikely event that something goes wrong during the switch.
Step 7: Explore Nationwide's Member Benefits and Services
Now that you're a full-fledged Nationwide member, take advantage of the benefits and services available to you!
Sub-heading: Leveraging Online Banking and the Mobile App
- 24/7 Access: Manage your accounts, view transactions, and make payments anytime, anywhere.
- Security Features: Benefit from sophisticated encryption, fraud detection systems, and options like freezing/unfreezing your debit card within the app.
- Budgeting Tools: Some app features allow you to set savings goals and track your spending.
Sub-heading: Discovering Member-Only Products
- Exclusive Savings: Keep an eye out for member-exclusive savings accounts with potentially better rates.
- Other Products: Explore other financial products like credit cards and loans that may offer preferential rates for members.
Sub-heading: Engaging with Nationwide
- Member Voice: Provide feedback and suggestions to Nationwide to help shape their products and services.
- AGM Participation: Exercise your right to vote at the Annual General Meeting.
- Customer Support: Don't hesitate to reach out to Nationwide's customer service via phone, live chat, or in-branch if you have any questions or need assistance.
Frequently Asked Questions (FAQs)
Here are 10 common questions about joining Nationwide, with quick answers:
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How to open a joint bank account with Nationwide? You can open most Nationwide current accounts as a joint account either during the initial application or by adding someone to an existing account later. Both applicants will need to meet the eligibility criteria and provide necessary identification.
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How to switch my existing bank account to Nationwide? You can use the Current Account Switch Service (CASS) when applying for a new Nationwide current account. This free service ensures a smooth transfer of all your payments and balances within 7 working days.
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How to apply for a Nationwide account if I don't have a UK passport or driving licence? If you don't have these documents, you'll likely need to visit a Nationwide branch in person with alternative proof of your name and address for verification.
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How to register for Nationwide online banking? If you opened your account online, you're often automatically registered, and login details are sent by post. If not, you can register on their website using your account number and sort code, or other account details.
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How to find my nearest Nationwide branch? You can use the "Branch Finder" tool on the official Nationwide website (www.nationwide.co.uk) to locate a branch near you.
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How to check my eligibility for a specific Nationwide current account? Each current account page on the Nationwide website details its specific eligibility criteria. Generally, you need to be 18+ and a UK resident for adult accounts.
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How to contact Nationwide customer service for help with my application? You can contact Nationwide's customer service via phone (general enquiries: 03457 30 20 11), live chat on their website, or by visiting a branch.
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How to make my first deposit into a new Nationwide account? You can transfer money from another bank account using your new Nationwide sort code and account number, or deposit cash/cheques at a Nationwide branch or Post Office.
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How to get a Nationwide debit card and PIN? Your debit card and PIN will be sent to you separately by post within a few working days after your account is opened and verified.
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How to benefit from being a Nationwide member? As a member, you can enjoy profit sharing (like the Fairer Share payment), access to member-only products (savings, credit cards, loans), and have a voice in the society's decisions through voting at AGMs.
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