So, you're considering joining Nationwide Building Society? That's a fantastic choice if you're looking for a financial institution that puts its members first! Unlike traditional banks with shareholders, Nationwide is a mutual organization, meaning it's owned by and run for the benefit of its members. This often translates to better rates, excellent customer service, and even profit-sharing opportunities. Ready to dive in and become a part of something truly different in the financial world? Let's get started!
How to Join Nationwide Building Society: Your Comprehensive Step-by-Step Guide
Joining Nationwide Building Society is a straightforward process, whether you prefer to do things online, via their app, or in person. This guide will walk you through everything you need to know to become a Nationwide member.
Step 1: Discover Your Nationwide Membership Pathway
First things first, how do you want to interact with Nationwide? Your initial decision will shape your journey. Nationwide offers various products, and simply holding one of these products makes you a member.
- 1.1 Current Accounts: Looking for an everyday banking solution? Nationwide offers several current accounts like FlexDirect, FlexPlus, FlexAccount, FlexStudent, and FlexOne. These are a popular way to become a member and often come with attractive benefits.
- 1.2 Savings Accounts: If you're primarily interested in saving your money, Nationwide has a wide range of savings accounts and ISAs (Individual Savings Accounts) to choose from, catering to different savings goals and access needs.
- 1.3 Mortgages: Are you looking to buy a home or remortgage? Taking out a mortgage with Nationwide instantly makes you a member. They are one of the UK's largest mortgage providers.
- 1.4 Other Products: While current accounts, savings, and mortgages are the most common entry points, Nationwide also offers other products like personal loans and credit cards. However, note that some of these products, like personal loans and credit cards, do not automatically grant you membership. Business savings accounts for sole traders or unincorporated bodies also make you a member.
Consider your primary financial need. Do you need a new bank account for your salary? Are you putting money aside for a house? Or are you looking to secure a home loan? This will help you narrow down the best product to start your Nationwide journey.
Step 2: Check Eligibility – Are You Ready to Join the Society?
Before you jump into applying, it's crucial to ensure you meet the basic eligibility criteria for the product you're interested in. While specific criteria vary by product (e.g., age for a student account), some general requirements apply to most accounts.
- 2.1 Age Requirements: For adult current accounts, you generally need to be 18 or over. Children's accounts (like FlexOne) can be opened for those under 13, but they require in-branch application.
- 2.2 Residency: Nationwide typically requires you to be a UK resident.
- 2.3 Identity Verification: You will need to prove your identity and address. Nationwide will attempt to do this electronically, but you might need to provide physical documents.
- 2.4 Credit Checks (for certain products): For products like current accounts with overdrafts, mortgages, or credit cards, Nationwide will conduct a credit check. A "soft" credit check might be done for initial enquiries (like a Decision in Principle for a mortgage), which doesn't impact your credit score. However, a "hard" check will be performed during the full application process.
It's a good idea to have a general understanding of your credit history before applying for products that involve borrowing.
QuickTip: Ask yourself what the author is trying to say.
Step 3: Gather Your Documents – Prepare for a Smooth Application
Regardless of whether you apply online or in a branch, having the necessary documents ready will significantly speed up the process.
- 3.1 Proof of Identity (Photo ID):
- Valid UK Passport
- Valid Full UK Photocard Driving Licence
- For EEA (European Economic Area) nationals: Valid full EEA passport or valid EEA member state ID card.
- Other acceptable forms of ID may include a UK Biometric Residence Permit or a UK Armed Forces or Military ID card.
- 3.2 Proof of Current Address: This needs to be a separate document from your photo ID.
- UK-based bank or building society statement (less than 3 months old)
- UK gas or electricity bill (less than 3 months old)
- UK phone bill (not mobile phone, less than 3 months old)
- UK water bill (less than 12 months old)
- UK council tax bill (less than 12 months old)
- UK mortgage statement (less than 12 months old)
- Benefit letter from your local housing authority (less than 12 months old)
- For EEA nationals: Valid national driving licence from an EEA country, statement from an EEA-based bank (less than 3 months old), or utility bill from an EEA-based utility provider (less than 3 months old).
Important Note on Documents: Nationwide generally prefers original documents. If applying online and they can't verify your identity electronically, you may be asked to visit a branch with your physical documents. If sending by post, you might need certified copies from a professional.
Step 4: Choose Your Application Method – Online, App, or In-Branch?
Nationwide offers flexible ways to apply, allowing you to choose the method that suits you best.
- 4.1 Online Application (Website):
- This is often the * quickest and most convenient* way for many accounts.
- Visit the Nationwide website, navigate to the "Current Accounts," "Savings & ISAs," or "Mortgages" section, and select the product you wish to apply for.
- Follow the on-screen prompts, filling in your personal details, financial information, and uploading any requested documents (if electronic verification fails).
- The online application will guide you through each step.
- 4.2 Mobile Banking App:
- If you're already a Nationwide member and looking to open another account, you can often do so directly through their mobile Banking app.
- Log in, go to "Products & Applications," and then select the account type you're interested in.
- 4.3 In-Branch Application:
- For those who prefer a personal touch or require assistance, visiting a Nationwide branch is an excellent option.
- Branch staff can guide you through the application form, answer any questions, and verify your identity documents on the spot. This is also often required for certain accounts, such as children's FlexOne accounts.
- Use the "Branch Finder" on the Nationwide website to locate your nearest branch.
- 4.4 By Phone:
- While not all accounts can be opened by phone, some can. Check the specific product page on the Nationwide website to see if a phone application is available. This can be particularly useful for mortgage applications, where you can book a free meeting with a mortgage advisor over the phone or video call.
Remember, even if you apply online, Nationwide might ask you to pop into a branch with ID if they can't verify your details electronically. They will let you know this at the end of your online application.
Step 5: Complete the Application Form – Accuracy is Key!
Filling out the application form requires attention to detail.
Tip: Revisit this page tomorrow to reinforce memory.
- 5.1 Personal Details: Provide your full name, date of birth, nationality, and contact information (address, phone number, email).
- 5.2 Financial Information: Depending on the product, you might need to provide details about your income, employment status, existing accounts, and spending habits. For mortgages, this will be much more extensive.
- 5.3 Declarations: Read all declarations carefully, especially those related to data protection, anti-money laundering regulations, and the terms and conditions of the specific product.
- 5.4 Review and Submit: Before submitting, double-check all the information you've entered. Mistakes can cause delays.
Take your time. There's no rush to fill it out incorrectly.
Step 6: Verification and Approval – The Waiting Game (Usually Short!)
Once you've submitted your application, Nationwide will begin the verification process.
- 6.1 Electronic Checks: As mentioned, they'll first attempt to verify your identity and address electronically.
- 6.2 Document Submission (if required): If electronic verification is unsuccessful, you'll be prompted to provide physical documents. This might involve taking them to a branch or, in some cases, sending them by post.
- 6.3 Application Review: Nationwide will review your application and conduct any necessary credit checks (for lending products).
- 6.4 Decision: You will then receive a decision on your application. This can be instant for some online applications or may take a few days if further verification or manual review is required.
For current accounts opened online, you generally receive confirmation and account details fairly quickly. For mortgages, the process is naturally longer due to the complexity and checks involved.
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Step 7: Activate Your Account and Enjoy Membership Benefits!
Congratulations! Once your application is approved, you're officially a Nationwide Building Society member.
- 7.1 Receive Account Details: You'll receive your account number, sort code, and any debit or credit cards in the post.
- 7.2 Register for Online Banking/App: It's highly recommended to register for Nationwide's Internet Bank and download their mobile Banking app. This allows you to manage your accounts, make payments, and view statements conveniently.
- 7.3 Explore Member Benefits: Now that you're a member, take advantage of the unique benefits Nationwide offers. These can include:
- Fairer Share Payments: Nationwide sometimes distributes a portion of its profits directly to eligible members, often £100 or more, if they meet certain criteria (e.g., holding a current account and a qualifying savings or mortgage product).
- Member-only products: Access to exclusive savings accounts, credit cards, or loan deals.
- Mortgage Deal Promise: Existing mortgage members can switch to new deals with rates as good as, or better than, those offered to new customers.
- Savings Promises: Commitments like not offering "brand new customer only" savings accounts, ensuring existing members get fair rates.
- Voting Rights: As a member, you have a say in how Nationwide is run by voting at their Annual General Meetings (AGM).
- Scam Checker Service: A valuable service to help members verify payments and protect against fraud.
- Branch Promise: Nationwide has committed to keeping all its branches open until at least early 2028.
Welcome to Nationwide! You're now part of a community-focused financial institution.
QuickTip: Keep a notepad handy.
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| How To Join Nationwide Building Society |
10 Related FAQ Questions
Here are 10 common questions related to joining Nationwide Building Society, with quick answers:
How to open a Nationwide bank account online? You can open most current accounts and savings accounts directly on the Nationwide website or through their mobile Banking app by selecting the desired product and following the online application steps.
How to become a Nationwide member without opening a current account? You can become a Nationwide member by opening a qualifying savings account or taking out a mortgage with them.
How to prove my identity to Nationwide? You'll typically need a valid UK passport or a full UK driving licence. If electronic verification fails, you may need to present these documents in a Nationwide branch.
How to prove my address to Nationwide? You can provide a recent UK bank statement, utility bill (gas, electricity, landline phone, water), council tax bill, or mortgage statement, generally dated within the last 3-12 months, depending on the document type.
QuickTip: Skim first, then reread for depth.
How to switch my current account to Nationwide? Nationwide participates in the Current Account Switch Service (CASS), which makes switching easy. You can initiate the switch during your online or in-branch application, and CASS handles the transfer of direct debits, standing orders, and remaining balance from your old account.
How to qualify for Nationwide's Fairer Share Payment? To qualify, you typically need to have an active Nationwide current account and also hold a qualifying savings or mortgage product with them by a specified date (e.g., March 31st of the qualifying year). Eligibility criteria are announced annually.
How to find my nearest Nationwide branch? You can find your nearest Nationwide branch using the "Branch Finder" tool on their official website.
How to register for Nationwide's online banking? After opening an account, you can register for online banking on the Nationwide website or via their mobile Banking app using your personal details, account information, and mobile number.
How to open a joint account with Nationwide? Most Nationwide current accounts can be opened as joint accounts. Both individuals will become members and share responsibility for the account. You can apply for a joint account online or in a branch.
How to know if I'm eligible for a specific Nationwide product? Each product page on the Nationwide website will detail its specific eligibility criteria. It's always best to check these before applying to ensure you meet the requirements.
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