Are you ready to give your savings a boost with Nationwide? Excellent! Putting money into your Nationwide savings account is a straightforward process, but knowing all your options can help you choose the most convenient method for your financial routine. Let's dive into a comprehensive guide on how to make your money work harder for you with Nationwide.
Your Guide to Funding Your Nationwide Savings Account
Nationwide offers a variety of ways to deposit funds into your savings, catering to different preferences and needs. Whether you prefer the ease of digital transfers or the personal touch of a branch visit, there's an option for you.
 |
| How To Put Money In Savings Nationwide |
Step 1: Identify Your Nationwide Account Type
Before you begin, it's helpful to know what type of Nationwide savings account you have. Different accounts might have slightly different rules or recommended deposit methods. For example, some limited access savings accounts may have restrictions on withdrawals, but depositing is generally flexible. If you have a specific savings product like an ISA or a Flex Regular Saver, it's always a good idea to quickly check its terms and conditions, just in case there are any unique stipulations.
QuickTip: Slow down if the pace feels too fast.
Step 2: Choose Your Preferred Deposit Method
Nationwide provides several convenient ways to add money to your savings. Let's explore each in detail:
Sub-heading 2.1: Online Transfers (Internet Bank or Banking App) - The Digital Highway
This is often the quickest and most popular method for modern banking. Nationwide's Internet Bank and Banking App allow for seamless transfers between your own accounts or from external accounts.
Tip: Reading in short bursts can keep focus high.
-
From a Nationwide Current Account to a Nationwide Savings Account:
- Action: Log in to your Nationwide Internet Bank or Banking app.
- Navigation: Look for "Payments & Transfers" or "Quick transfer."
- Selection: Choose your Nationwide current account as the source and your Nationwide savings account as the destination.
- Amount: Enter the amount you wish to transfer.
- Confirmation: Follow the on-screen prompts to confirm the transfer.
- Speed: Funds usually transfer instantly between your own Nationwide accounts.
- Limits: You can typically send up to £5,000,000 per transaction from a current account to a savings account, and your balance updates immediately.
-
From an External Bank Account to your Nationwide Savings Account:
- Action: Log in to your other bank's online banking or mobile app.
- Setup: You'll need to set up Nationwide as a new payee.
- Nationwide Details You'll Need:
- Beneficiary Name: Nationwide Building Society
- Sort Code: 40-02-50
- Account Number: 01343556
- Reference: Crucially, use your specific Nationwide savings account number as the payment reference. This ensures the money goes to your account.
- Amount: Enter the amount you wish to transfer.
- Confirmation: Complete the transfer as per your external bank's instructions.
- Speed: These are typically Faster Payments and usually arrive instantly or within two hours.
- Limits: Online payments through Faster Payments usually have a daily limit of up to £100,000. However, if it's a new payee, it might be limited to £25,000.
Sub-heading 2.2: In-Branch Deposits - The Personal Touch
If you prefer face-to-face interaction or need to deposit cash or cheques, visiting a Nationwide branch is a reliable option.
-
For Cash Deposits:
- Action: Visit your nearest Nationwide branch.
- What to Bring: Your Nationwide debit card or proof of identification (like your passport or driving licence).
- Limits: You can deposit up to £5,000 in cash per account, per day at the counter. For self-service cash machines within a branch, the limit is £2,500 per day (max 90 notes per transaction).
- Important: For large cash deposits, Nationwide may ask you about the source of the funds and how you use your account, and may request extra documentation.
- Coin Deposits: You can pay bags of coins into your account. Nationwide requests coins to be organised by type (e.g., £1 or £2 coins to the value of £20, 50p or 20p to £10, etc.). Call your local branch first if you have a large number of coins.
-
For Cheque Deposits:
- Action: Visit a Nationwide branch.
- What to Bring: Your cheque(s).
- Process: You can deposit cheques at the counter or through certain cash machines.
- Endorsement: Ensure the cheque is correctly endorsed with your account holder's name(s), signature, date, preferred contact number, and your Nationwide sort code and account number (or savings account number) on the back.
- Clearing Time: If deposited at a branch or cash machine inside a branch before 7 pm (Monday to Friday), the cheque is deposited immediately and typically clears by 11:59 pm the next working day. If deposited at a cash machine outside a branch, it will clear after another 2 working days once the machine is serviced.
Sub-heading 2.3: Post Office Deposits - Your Local Connection
Nationwide has a partnership with the Post Office, allowing you to deposit cash and cheques into your Nationwide accounts at most Post Office branches. This is particularly useful if a Nationwide branch isn't conveniently located.
QuickTip: Pause at lists — they often summarize.
- What You'll Need:
- Your Nationwide debit card and PIN for cash deposits.
- A personalised paying-in slip and deposit envelope from Nationwide for cheque deposits.
- Cash Deposits: Funds usually show in your account the same day if using your debit card.
- Cheque Deposits: Cash deposits tend to take longer, typically appearing the next working day.
- Check First: It's always a good idea to check the Post Office's website or Nationwide's guidance to confirm services offered for your specific account type.
Sub-heading 2.4: Cheque by Post - The Traditional Route
If you prefer the traditional method, you can post a cheque to Nationwide.
- What to Include:
- Your endorsed cheque(s).
- A completed Nationwide paying-in cheques form (or if you can't print it, write your account holder's name(s), signature, date, preferred contact number, and your sort code/account number on the back of each cheque).
- Address: Post your cheque to your local branch or to the central address: Business Savings, Nationwide Building Society, Kings Park Road, Moulton Park, Northampton, NN3 6NW (though this is for Business Savings, personal accounts generally use local branch addresses or specific deposit addresses provided by Nationwide). Always confirm the correct postal address with Nationwide directly or on their website.
- Clearing Time: You'll typically be able to access your money 2 working days after Nationwide receives your cheques, so factor in postage time.
Step 3: Verify Your Deposit
Once you've made your deposit, it's always a good practice to verify that the funds have arrived in your Nationwide savings account.
QuickTip: Look for contrasts — they reveal insights.
 |
- Online Banking/App: The quickest way to do this is by logging into your Nationwide Internet Bank or Banking App and checking your account balance and recent transactions.
- SMS Alerts: If you have set up SMS alerts for your account, you might receive a notification when the deposit is credited.
- Branch/Telephone Banking: You can also enquire about your balance in a branch or by calling Nationwide's customer service.
Step 4: Enjoy Your Growing Savings!
Congratulations! You've successfully added money to your Nationwide savings account. Now you can relax knowing your money is working for you, potentially earning interest and helping you achieve your financial goals. Remember to regularly review your savings goals and consider setting up recurring payments to automate your contributions.
10 Related FAQ Questions
Here are 10 common questions about putting money into a Nationwide savings account, with quick answers:
-
How to check my Nationwide savings account balance?
- You can check your balance instantly via the Nationwide Banking app, Internet Bank, at a Nationwide ATM, or by visiting a branch.
-
How to set up a regular payment to my Nationwide savings account?
- You can set up a standing order through the Nationwide Internet Bank or Banking app, specifying the amount and frequency of your recurring deposits from your current account.
-
How to deposit a large sum into my Nationwide savings account?
- For large online transfers, Nationwide's Faster Payments typically allow up to £100,000 per transaction daily. For sums exceeding this, or if you prefer a different method, CHAPS payments (Clearing House Automated Payment System) can be arranged through a branch for very high values, though a fee may apply.
-
How to find my Nationwide savings account number and sort code?
- Your account number and sort code can be found on your Nationwide savings card, statements, or by logging into your Internet Bank or Banking app.
-
How to confirm if a cheque has cleared in my Nationwide account?
- You can check your account transactions via the app or Internet Bank. Once the funds are available (not just pending), the cheque has cleared.
-
How to transfer money from another bank to my Nationwide savings account?
- Log into your external bank's online banking, set up Nationwide as a new payee using Nationwide's sort code (40-02-50) and the specific Nationwide bank account number for deposits, ensuring you use your Nationwide savings account number as the reference.
-
How to deposit foreign currency into my Nationwide savings account?
- Nationwide generally does not accept foreign cheques. For foreign currency deposits or international payments, you would typically need to convert the currency first, or explore specific international payment services Nationwide might offer for incoming transfers.
-
How to get a paying-in slip for my Nationwide savings account?
- For in-branch deposits, a slip might not always be strictly necessary with your card. For postal cheque deposits, you can often download a paying-in form from the Nationwide website or obtain one at a branch.
-
How to deposit coins into my Nationwide savings account?
- You can deposit coins at any Nationwide branch, ideally sorted into full bags by coin type (£1/£2 coins in £20 bags, 50p/20p in £10 bags, 10p/5p in £5 bags, 2p/1p in £1 bags).
-
How to resolve an issue with a missing deposit in my Nationwide savings account?
- First, double-check your transaction history. If the funds are still missing after the expected clearing time, contact Nationwide directly via their customer service helpline, web chat (if logged into Internet Bank), or by visiting a branch with your deposit details.
 |
