Ready to take control of your finances with a trusted institution? Opening a current account with Nationwide Building Society can be a fantastic step, offering a range of benefits from in-credit interest to comprehensive insurance packages, depending on the account type you choose. This comprehensive guide will walk you through every step of the process, ensuring you're well-prepared and confident in setting up your new Nationwide current account.
Why Choose Nationwide?
Nationwide is one of the largest building societies in the UK, known for its customer-focused approach and competitive products. They offer various current accounts tailored to different needs, including:
- FlexDirect: Often features attractive in-credit interest for a fixed period and cashback on debit card spending. It's designed for those who prefer to bank online and via telephone.
- FlexPlus: A packaged account with a monthly fee, offering benefits like worldwide family travel insurance, mobile phone insurance, and UK and European breakdown cover.
- FlexAccount: A straightforward everyday current account with no monthly fee, suitable for general banking needs.
- FlexBasic: A basic bank account for those who don't hold another UK current account or don't qualify for other accounts.
- FlexStudent & FlexOne: Accounts specifically designed for students and young people, respectively.
Now, let's dive into the step-by-step process!
How To Open A Nationwide Current Account |
Step 1: Discover Your Perfect Nationwide Current Account
So, you're ready to open an account? Excellent! The very first thing to do is to figure out which Nationwide current account best suits your individual needs. This isn't a one-size-fits-all decision, as each account comes with distinct features and benefits.
Sub-heading: Compare Account Features and Benefits
Take a moment to consider what's most important to you in a bank account. Do you want to earn interest on your balance? Are you looking for comprehensive insurance coverage? Or do you simply need a no-frills account for everyday transactions?
- FlexDirect: If you typically keep a positive balance and want to maximize your returns, the FlexDirect account with its attractive in-credit interest rate (often 5% AER for the first 12 months on balances up to £1,500) and 1% cashback on debit card purchases for the first year might be perfect for you. Just remember, after the initial period, the interest rate usually changes.
- FlexPlus: For those who travel frequently, rely on their mobile phone, or want peace of mind with breakdown cover, the FlexPlus packaged account, despite its monthly fee (currently £18), offers a wealth of insurance benefits for you and your family. Think about the savings on separate insurance policies!
- FlexAccount: If simplicity and no monthly fees are your priority, the FlexAccount is a solid choice for day-to-day banking. It's a reliable option without the extra bells and whistles.
- FlexBasic: This account is designed for individuals who might not qualify for other current accounts, perhaps due to a limited credit history or not holding another UK current account. It provides essential banking services.
- Specialist Accounts: If you're a student aged 18 or over, explore the FlexStudent account, which often comes with an interest-free arranged overdraft. For those aged 11-17, the FlexOne account can help with learning to manage money and even earn interest.
Visit the Nationwide website (nationwide.co.uk) and navigate to their "Current accounts" section. They have a very helpful comparison tool that allows you to easily see the differences between each account side-by-side. Don't rush this step – it's crucial for choosing the right fit!
Step 2: Check Your Eligibility
Once you've identified a potential account, it's time to ensure you meet Nationwide's eligibility criteria. While some general requirements apply to all accounts, specific conditions may vary.
Sub-heading: General Eligibility Requirements
For most adult current accounts (FlexAccount, FlexDirect, FlexPlus), you will generally need to:
Tip: Focus on one point at a time.
- Be 18 years or over.
- Be a UK resident. This is a significant point, especially for non-UK nationals.
- Agree that the account is for personal use only (Nationwide does not offer business current accounts).
- Be willing to undergo a credit check (for accounts with overdraft facilities or certain benefits).
Sub-heading: Specific Account Eligibility Notes
- FlexBasic: This account is specifically for those who do not hold another UK current account or do not qualify for Nationwide's other current accounts.
- FlexStudent: Requires you to be 18 or over and typically in full-time higher education.
- FlexOne: For individuals aged 11-17. For those under 13, applications usually need to be made in person at a branch.
It's always best to check the specific product terms and conditions on the Nationwide website for the account you are interested in, as criteria can occasionally change.
Step 3: Gather Your Essential Documents
This is where you prepare for the application itself. Having all your documents ready before you start the process will significantly speed things up and prevent any frustrating delays.
Sub-heading: Proof of Identity (Photo ID)
You'll need at least one form of valid photographic identification. Acceptable documents typically include:
- A valid UK Passport
- A full UK Driving Licence
- For European Economic Area (EEA) nationals, a valid EEA passport or national identity card.
If you don't have a valid UK passport or a full UK driving licence, you may need to visit a Nationwide branch with alternative proof of your name and address.
Sub-heading: Proof of Address
You'll also need a document that proves your current UK residential address. This document must usually be dated within the last 3 months. Common acceptable documents include:
- Recent utility bill (e.g., gas, electricity, water, landline phone bill – mobile phone bills are often not accepted).
- Council Tax bill (for the current financial year).
- Bank or building society statement from another UK financial institution (dated within the last 3 months, not printed from the internet).
- Mortgage statement (dated within the last 12 months).
- Tenancy agreement (if you are renting).
Ensure the name and address on your proof of address document exactly match the details you will provide in your application. Any discrepancies can lead to delays.
Sub-heading: Other Information You Might Need
While not always required as physical documents, have the following information handy:
QuickTip: Re-reading helps retention.
- Your address history for the past 3 years.
- Your employer's address (if you're employed).
- Details of your income and outgoings.
- Your National Insurance number.
Step 4: Choose Your Application Method
Nationwide offers a few convenient ways to apply for a current account. Select the method that works best for you.
Sub-heading: Applying Online (Most Common and Easiest for Many)
Most Nationwide current accounts can be opened online, either directly through their website or via their mobile Banking app (if you're an existing member). This is generally the quickest method.
- On Nationwide's Website: Go to the specific page for the current account you wish to open (e.g., FlexDirect, FlexAccount) and look for the "Apply online" button.
- Via the Mobile Banking App: If you're already a Nationwide member with another product (e.g., a savings account), you can often apply for a new current account directly through the app. Log in, go to "Products & Applications," then "Current Accounts."
During the online application, you will be guided through a series of questions. You'll enter your personal details, address history, employment information, and financial details. You may also be prompted to upload digital copies of your ID and proof of address. Nationwide uses online identity verification systems, so for many, you won't need to visit a branch if your identity and address can be verified digitally.
Sub-heading: Applying In-Branch
If you prefer face-to-face assistance, have complex circumstances (e.g., issues with online verification, no standard ID), or are opening an account for a minor (like FlexOne for under 13s), visiting a Nationwide branch is a good option.
- Find Your Nearest Branch: Use the branch finder tool on the Nationwide website to locate your closest branch.
- Book an Appointment (Recommended): While you can often walk in, booking an appointment ensures a dedicated advisor is available to help you, minimizing wait times.
- Bring All Documents: Crucially, bring all your original identity and proof of address documents with you. The advisor will need to see and verify these in person.
Sub-heading: Applying by Phone
For some accounts, or if you need extra support, you may be able to apply over the phone.
- Nationwide Contact Numbers: You can find the relevant contact numbers for current account applications on the "Contact us" or "Current account help" sections of the Nationwide website. Be prepared to answer security questions and provide your personal details and document information.
Step 5: Complete the Application Form
Whether online, in-branch, or over the phone, you'll need to accurately complete the application form.
Sub-heading: Providing Accurate Information
- Personal Details: Full name, date of birth, nationality, marital status.
- Contact Information: Current phone number and email address.
- Address History: Provide all residential addresses for the past 3 years, including dates.
- Employment Details: Your current employer's name and address, your job title, and income.
- Financial Information: Details about your typical monthly income and outgoings. This helps Nationwide assess your suitability for an account and any potential overdraft.
Sub-heading: Review and Submit
- Double-Check Everything: Before submitting, carefully review all the information you've provided. Even small errors can cause delays.
- Read Terms and Conditions: It's essential to read and understand the terms and conditions for the specific current account you are applying for, including any fees, interest rates, or account features.
- Consent to Credit Check: If you're applying for an account with an overdraft facility or certain benefits, you will be asked to consent to a credit check. This is standard procedure.
Step 6: Identity Verification and Application Processing
Once you've submitted your application, Nationwide will begin the verification process.
QuickTip: Revisit key lines for better recall.
Sub-heading: Online Verification
- If applying online, Nationwide will attempt to verify your identity and address electronically using various databases. If successful, your account opening process will be much faster.
- Sometimes, additional verification is required. This could involve uploading more documents, answering security questions, or in some cases, a video call. You will be clearly instructed if this is needed.
Sub-heading: In-Branch Verification
- If applying in a branch, your documents will be verified on the spot by the Nationwide advisor.
Sub-heading: Application Decision
- Nationwide will assess your application based on your eligibility, creditworthiness (if applicable), and the verification of your identity and address.
- You will usually receive a decision within a few working days, especially for online applications. In some cases, it might be instant. If you apply in a branch, you might get an immediate decision, or it might take a few days if further checks are needed.
- If your application is successful, congratulations! You'll receive confirmation. If it's declined, Nationwide should provide a reason or general guidance.
Step 7: Welcome to Nationwide!
Upon successful application, you're officially a Nationwide current account holder!
Sub-heading: Receiving Your Account Details and Debit Card
- Welcome Pack: You'll receive a welcome pack, typically by post, containing your new account number, sort code, and other important information.
- Debit Card: Your Visa debit card will usually arrive separately within a few working days for security reasons.
- PIN: Your Personal Identification Number (PIN) will also arrive in a separate letter a day or two after your card.
Sub-heading: Setting Up Your Online Banking and App
- Register for Internet Bank: Follow the instructions in your welcome pack to register for Nationwide's Internet Bank. This will give you 24/7 access to manage your account from your computer.
- Download the Banking App: Download the Nationwide Banking app to your smartphone or tablet. This offers convenient on-the-go banking, including checking your balance, making payments, and managing your card.
- Set Up Digital Payments: Link your new debit card to Apple Pay, Google Pay, or Samsung Pay for easy contactless payments.
Step 8: Funding Your Account and Setting Up Payments
Now that your account is open and accessible, it's time to put it to work!
Sub-heading: Depositing Funds
- Bank Transfer: The easiest way to fund your account initially is often by transferring money from another UK bank account using your new Nationwide account number and sort code.
- Cash/Cheque Deposit: You can deposit cash or cheques at any Nationwide branch or Post Office counter (check Nationwide's guidelines for Post Office deposits). Some Nationwide cash machines also allow cash and cheque deposits.
Sub-heading: Setting Up Direct Debits and Standing Orders
- Incoming Payments: Provide your new Nationwide account details to your employer for salary payments, or to any other source of regular income.
- Outgoing Payments: Set up your Direct Debits (for bills like utilities, subscriptions) and Standing Orders (for regular fixed payments like rent). You can usually do this easily through the Internet Bank or Banking app.
Sub-heading: Using the Current Account Switch Service (If Switching)
If you're moving your main bank account to Nationwide, consider using the Current Account Switch Service (CASS). This is a free, guaranteed service that makes switching bank accounts simple and stress-free.
- Full Switch: CASS will automatically transfer all your incoming and outgoing payments (Direct Debits, Standing Orders) to your new Nationwide account, and close your old account. This typically takes 7 working days.
- Partial Switch: This moves selected payments but keeps your old account open.
- How to Initiate: You can request a full switch during your application process, or later via the Internet Bank, app, branch, or phone.
Congratulations! You've successfully opened and set up your Nationwide current account. Enjoy the benefits of banking with a building society that puts its members first.
10 Related FAQ Questions
How to check my Nationwide current account balance?
You can check your Nationwide current account balance instantly via the Nationwide Banking app, the Internet Bank, at any Nationwide cash machine, over the phone using automated telephone banking, or by speaking to a Nationwide advisor in a branch.
How to set up a Direct Debit on my Nationwide account?
To set up a Direct Debit, you usually provide your new Nationwide account number and sort code to the organization you wish to pay (e.g., utility company, subscription service). They will then set up the Direct Debit on their end. You can review and manage your Direct Debits via the Internet Bank or Banking app.
How to transfer money from my Nationwide account?
You can transfer money from your Nationwide account through the Nationwide Banking app, the Internet Bank, over the phone (for certain transfers), or by visiting a Nationwide branch. You'll need the recipient's account number and sort code.
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How to find my Nationwide account number and sort code?
Your account number and sort code are clearly stated in your welcome pack, on your debit card (usually the last few digits for the account number, and the six-digit sort code), and are always available when you log in to the Internet Bank or Banking app.
How to order a new debit card from Nationwide?
If your debit card is lost, stolen, or damaged, you can usually order a new one quickly via the Nationwide Banking app, the Internet Bank, or by calling Nationwide's customer service or lost and stolen cards line.
How to change my personal details with Nationwide?
You can update your personal details, such as your address or contact information, by logging into the Nationwide Internet Bank, using the Banking app (for some details), or by visiting a Nationwide branch with relevant proof if required.
How to apply for an overdraft on my Nationwide current account?
You can typically apply for an arranged overdraft through the Nationwide Internet Bank or Banking app. Nationwide will assess your eligibility based on your credit history and financial circumstances. You can also discuss this in a branch or over the phone.
How to close my Nationwide current account?
To close your Nationwide current account, you can contact them by phone, visit a branch, or sometimes initiate the process through the Internet Bank. Ensure all Direct Debits and Standing Orders are moved or cancelled, and transfer any remaining funds before closing.
How to access statements for my Nationwide current account?
You can access and download your current account statements digitally via the Nationwide Internet Bank or Banking app. You can also request paper statements to be sent by post, or get a statement in a branch.
How to report a lost or stolen Nationwide debit card?
Immediately report a lost or stolen Nationwide debit card by calling their dedicated lost and stolen cards helpline, which is available 24/7. You can also freeze your card instantly via the Banking app to prevent unauthorized use.