So, you're ready to open a Nationwide account, are you? Excellent choice! Nationwide Building Society is one of the UK's most well-known and trusted financial institutions, offering a wide range of accounts to suit different needs. Whether you're looking for an everyday current account, a way to boost your savings, or something specific like a joint account, Nationwide likely has an option for you.
This comprehensive guide will walk you through every step of the process, ensuring you have all the information you need to open your Nationwide account smoothly and efficiently. Let's get started!
How to Open a Nationwide Account: Your Step-by-Step Guide
Opening a Nationwide account can be done through a few convenient channels: online, via their banking app, or in a branch. The best method for you will depend on your preferences and the type of account you're opening.
Step 1: Discover Your Perfect Nationwide Account
Before you even think about forms or documents, the very first and most crucial step is to decide which Nationwide account is right for you. They offer a diverse portfolio, each with its own features and benefits.
Sub-heading: Exploring Current Account Options
- FlexAccount: This is Nationwide's flagship everyday current account. It comes with no monthly fee and is suitable for general banking needs. It also offers access to exclusive savings products, like the Flex Regular Saver.
- FlexDirect: An online current account that often comes with a competitive in-credit interest rate and cashback on debit card spending for an initial period (e.g., 12 months). This account is generally self-service, meaning you'll primarily manage it online, through the app, or at ATMs.
- FlexPlus: If you're looking for a packaged account with added benefits, the FlexPlus account might be for you. It comes with a monthly fee but includes perks like worldwide family travel insurance, mobile phone insurance, and UK and European breakdown cover.
- FlexBasic: Designed for those who don't hold another UK current account or don't qualify for other accounts. It provides essential banking services.
Sub-heading: Diving into Savings Account Options
Nationwide offers various savings accounts to help you grow your money:
- Instant Access Savings Accounts: These accounts offer easy access to your funds, allowing you to withdraw money anytime without penalty. They typically have variable interest rates.
- Limited Access Savings Accounts: These accounts allow a certain number of penalty-free withdrawals per year. They often offer slightly better interest rates than instant access accounts in exchange for this limitation.
- Fixed Rate Savings Accounts: For those who can commit a lump sum for a specific period, fixed-rate accounts offer a guaranteed interest rate for the term. Be aware that withdrawals before the term ends might incur a charge or require account closure.
- Cash ISAs: These allow you to save money tax-free up to a certain annual limit. Nationwide offers various Cash ISAs, including instant access and fixed-rate options.
- Children's Savings Accounts: Designed specifically for younger savers, often with attractive interest rates.
Tip: Take your time to compare the features, fees, interest rates, and eligibility criteria for each account. Nationwide's website has detailed information on all their products.
Step 2: Gather Your Essential Documentation
Once you've chosen your account, the next crucial step is to gather the necessary documents. Nationwide, like all financial institutions, is required to verify your identity and address for security and regulatory purposes.
Sub-heading: Proof of Identity (Photo ID)
You'll typically need one of the following original documents:
- Valid full UK passport
- Valid full UK photocard driving licence
- Valid full EEA passport or EU member state ID card
- UK Biometric Residence Permit (for non-UK residents)
- Home Office Application Registration Card (ARC)
- Home Office Immigration Status Document (must be accompanied by proof of right to reside in the UK)
Sub-heading: Proof of Current Address
You'll typically need one of the following original documents, dated within the last 3 months (unless otherwise specified):
- Valid full UK driving licence (if not used for ID)
- Valid provisional UK photocard driving licence (if not used for ID)
- UK-based bank or building society statement
- UK gas or electricity bill
- UK phone bill (not mobile phone)
- UK council tax bill (within the last 12 months)
- UK mortgage statement (within the last 12 months)
- Tenancy agreement from a housing association or council
- Letter from a university or college (within the last 12 months, for students)
- Benefit letter from your local housing authority (within the last 12 months)
Important Note for Non-UK Residents (EEA): If you live in the EEA and are applying for a current account, you'll need to visit a branch. Bring your valid full EEA passport or ID card for proof of name, and one of the following for proof of current address: a valid national driving licence from an EEA country, an EEA-based bank statement (less than 3 months old), or a utility bill in your name from an EEA-based utility provider (less than 3 months old).
Step 3: Choose Your Application Method
Nationwide offers a few convenient ways to apply for an account. Select the one that suits you best!
Sub-heading: Applying Online (Often the Fastest)
- Eligibility: Online applications are generally available for most current and savings accounts if you are a UK resident and meet their criteria.
- Process:
- Visit the Nationwide website and navigate to the "Current Accounts" or "Savings" section.
- Select the account you wish to open.
- Click on the "Apply Online" or "Open Account" button.
- You'll be guided through an online application form. This will ask for your personal details (name, address, date of birth, nationality, employment status, income details).
- You may be asked to verify your identity electronically. This often involves answering security questions based on your credit file or providing details from your ID documents. Nationwide may carry out electronic searches through credit agencies, but these won't affect your credit score.
- Review your application carefully before submitting.
- You'll receive an immediate confirmation of your application submission. Nationwide aims to process online applications quickly.
Sub-heading: Applying via the Nationwide Banking App
- Eligibility: Similar to online applications, but requires you to download the app first.
- Process:
- Download the "Nationwide Banking App" from your device's app store (Google Play Store or Apple App Store).
- Open the app and look for an option to "Open a new account" or "Become a customer."
- Follow the on-screen prompts, which will mirror much of the online application process. You'll enter your personal details and go through identity verification.
- The app might offer biometric verification (fingerprint or face ID) for an even smoother setup experience.
Sub-heading: Applying In-Branch (Personalized Assistance)
- Eligibility: Suitable for all account types, especially if you prefer face-to-face assistance, have complex circumstances, or are a non-UK resident.
- Process:
- Locate your nearest Nationwide branch using their online branch finder tool.
- Gather your original proof of identity and proof of address documents (as detailed in Step 2).
- Visit the branch during opening hours. It's often advisable to call ahead or check online if appointments are recommended, especially for complex applications.
- A Nationwide advisor will guide you through the application form and scan or take copies of your documents. They will answer any questions you may have.
- Your application will be processed, and you'll be informed of the next steps.
Step 4: Awaiting Account Confirmation and Card Delivery
After your application is submitted and approved, there's a short waiting period for your account to become fully operational.
Sub-heading: Confirmation and Welcome Pack
- You'll typically receive a confirmation email or letter once your account is successfully opened. This will contain important details about your new account.
- A welcome pack, including your account number and sort code, will usually be sent to your registered address by post.
Sub-heading: Debit Card and PIN Arrival
- Your debit card and its corresponding PIN will be sent separately for security reasons.
- They usually arrive within approximately 7 working days after your account is opened. If you haven't received them after this timeframe, contact Nationwide immediately.
Step 5: Activating and Setting Up Your Account
Once your card and PIN arrive, it's time to activate your account and start banking!
Sub-heading: Activating Your Debit Card
- Your card may come with instructions for activation. Often, the first time you use your debit card at a chip and PIN terminal (e.g., an ATM or in a shop), it will automatically activate.
- You may also be able to activate it via the Nationwide Banking App or Internet Bank.
Sub-heading: Registering for Online Banking and the App
- Internet Bank: You'll receive separate login details for the Internet Bank by post. Once you log in for the first time, you can change these details to something more memorable. The Internet Bank allows you to manage your account, view transactions, set up payments, and more.
- Banking App: Once you have your Internet Bank login details, you can easily register and log in to the Nationwide Banking App. The app offers a wide range of features for managing your money on the go, including:
- Viewing balances and transactions
- Making payments
- Setting up Savings Goals
- Freezing/unfreezing your debit card
- Reporting lost or stolen cards
- Setting up new bill payments and checking existing ones
- Personalizing settings and opting for paperless statements
- Blocking transactions to gambling merchants
Sub-heading: Funding Your New Account
- Bank Transfer: The easiest way to put money into your new account is by transferring funds from another bank account. You'll need your new Nationwide account number and sort code.
- In-Branch Deposit: You can deposit cash or cheques at any Nationwide branch. There are daily limits for cash deposits (e.g., £5,000 per account per day at the counter).
- Cash Machine Deposit: Some Nationwide cash machines allow you to deposit cash and cheques directly. There are typically limits on the number of notes/cheques you can deposit per transaction and per day.
- Post: You can send cheques by post, though sending cash is generally not recommended for security reasons.
Step 6: Managing Your New Account
Congratulations! Your Nationwide account is open and ready to use. Now, let's look at how you can effectively manage your finances.
Sub-heading: Setting Up Payments
- Direct Debits: To set up a Direct Debit, you'll need to provide the organization (e.g., utility company, gym) with your Nationwide account number and sort code. They will then send the instruction to Nationwide. You'll receive written confirmation.
- Standing Orders: You can set up recurring payments of a fixed amount to another account through the Internet Bank or Banking App.
- One-off Payments: Make instant payments to others via the app or online banking.
Sub-heading: Monitoring Your Spending and Savings
- Regularly check your account balance and transactions through the app or Internet Bank.
- Set up text alerts to notify you of account activity, such as low balance warnings or large transactions.
- Utilize the Savings Goals feature in the app to track your progress towards financial targets.
Sub-heading: Accessing Support
- Online Help: Nationwide's website has extensive FAQs and help guides.
- Banking App: Many common queries can be resolved directly within the app.
- Telephone Banking: You can call Nationwide's customer service for assistance.
- In-Branch: For more complex issues or personalized advice, visit a local branch.
Frequently Asked Questions (FAQs)
Here are 10 common questions about opening and managing a Nationwide account, starting with "How to":
How to check my eligibility for a Nationwide account?
You can check the specific eligibility criteria for each Nationwide account on their official website. Generally, you need to be a UK resident and over 18 for most current accounts. Some accounts may have minimum income or deposit requirements.
How to apply for a joint Nationwide account?
You can apply for a new joint account online or in a branch. During the application process, you'll indicate that you wish to open it jointly, and both applicants will need to provide their identity and address verification. If you already have a sole Nationwide account, you can typically convert it to a joint account by calling them, with both account holders on the call.
How to activate my new Nationwide debit card?
Most Nationwide debit cards are activated automatically upon their first use at a chip and PIN terminal (e.g., an ATM or in-store purchase). You may also be able to activate it through the Nationwide Banking App or Internet Bank.
How to register for Nationwide online banking?
Once you receive your welcome pack with your account details and separate login information, visit the Nationwide Internet Bank login page. You'll enter your customer number and date of birth, then follow the prompts to set up your passnumber and other security details.
How to set up a Direct Debit with Nationwide?
To set up a Direct Debit, you provide your Nationwide account number and sort code to the organization you wish to pay. They will then initiate the Direct Debit instruction with Nationwide. You will receive a confirmation of the setup from the organization.
How to deposit cash into my Nationwide account?
You can deposit cash at any Nationwide branch counter (up to £5,000 per account per day), at designated Nationwide cash machines that accept deposits (with daily limits), or by sending cheques via post (cash not recommended).
How to find my Nationwide account number and sort code?
Your account number and sort code can be found on your debit card, at the top of your current account statements, within the Nationwide Banking App (under your current account's name), or on the Internet Bank.
How to change my personal details with Nationwide?
You can usually update your personal details, such as your address or contact information, through the Nationwide Internet Bank, the Banking App, by calling customer service, or by visiting a branch. You may need to provide updated proof of address if changing your residential address.
How to check my Nationwide account balance?
You can check your balance instantly through the Nationwide Banking App, the Internet Bank, at Nationwide cash machines, by calling their automated telephone banking service, or by visiting a branch.
How to close my Nationwide account?
You can close your Nationwide account via the Internet Bank, by visiting a branch, or by post. Before closing, ensure your account isn't overdrawn and you have no outstanding charges. Any linked savings accounts might also need to be closed or transferred.
