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Do you want to gain more control over your finances, save for a goal, or simply manage your everyday spending more efficiently? Setting up an account with Nationwide Building Society, one of the UK's largest and most trusted financial institutions, can be a fantastic step!
This comprehensive guide will walk you through everything you need to know, from understanding your options to getting your account up and running, whether you prefer to bank online, via their app, or in a branch.
Step 1: Discover Your Nationwide Needs – What Kind of Account is Right for You?
Before you even think about forms or documents, let's figure out what you want your Nationwide account to do for you. Nationwide offers a variety of accounts, each tailored to different financial goals.
Sub-heading 1.1: Current Accounts for Everyday Banking
- FlexAccount: This is their standard, no-frills current account, perfect for day-to-day spending and managing your income. It has no monthly fee.
- FlexDirect: An online-focused account that often comes with attractive in-credit interest for the first 12 months on balances up to £1,500 and sometimes cashback on debit card spending. Ideal if you manage your money digitally.
- FlexPlus: This is a packaged account with an £18 monthly fee, offering a bundle of benefits like worldwide family travel insurance, mobile phone insurance, and UK and European breakdown cover. Great for those who travel frequently or want comprehensive insurance.
- FlexBasic: A basic bank account for those who might not qualify for other current accounts or don't hold another UK current account. It has no monthly fee and helps you manage essential banking.
- FlexStudent: Tailored for students aged 18 and over, offering features like an interest-free arranged overdraft to help manage money at university.
- FlexOne: Designed for children aged 11-17, allowing them to earn interest and learn about managing money. For this account, you'll generally need to apply in person.
Sub-heading 1.2: Savings Accounts for Your Future
Nationwide provides a wide range of savings accounts, from instant access to fixed-rate options and ISAs (Individual Savings Accounts) which offer tax-free interest.
- Instant Access Savings Accounts: These offer easy access to your money whenever you need it, with unlimited withdrawals.
- Limited Access Savings Accounts: Such as a "Triple Access" account, allowing a certain number of withdrawals without reducing your interest rate, often with better interest rates than instant access.
- Fixed Rate Savings Accounts: For those who can lock away a lump sum for a set period (e.g., 12 months) in exchange for a fixed, often higher, interest rate.
- Cash ISAs: Allows you to save money and earn interest tax-free up to an annual limit.
Engage with me: Think about your primary financial need right now. Are you looking for a simple account for your salary, a way to start saving for a house, or something that offers bundled benefits? Knowing this will guide you to the right choice!
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| How To Set Up Nationwide Account |
Step 2: Gather Your Essential Documents – Prepare for a Smooth Application
Regardless of the account type, Nationwide, like all financial institutions, needs to verify your identity and address to comply with regulations. Having these documents ready will make your application much quicker and smoother.
Sub-heading 2.1: Proof of Identity (Photo ID)
You'll generally need one of the following:
- Valid UK Passport
- Full UK Photocard Driving Licence
- Valid full EEA Passport or EU member state ID card
If you don't have these, don't worry! Nationwide may still be able to accept you, but you might need to visit a branch with alternative forms of ID.
Sub-heading 2.2: Proof of Address
You'll typically need one document dated within the last 3 months (unless otherwise specified):
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- UK-based bank or building society statement (not from Nationwide itself if you're a new customer)
- UK mortgage statement (within the last 12 months)
- UK gas, electricity, or water bill
- UK phone bill (excluding mobile phone bills)
- UK council tax bill (within the last 12 months)
- Letter from Benefits Agency/Universal Credit welcome letter (within the last 12 months)
Important Note: You cannot use the same document for both proof of identity and proof of address. For instance, if you use your driving licence as ID, you'll need a separate document for your address.
Sub-heading 2.3: Additional Information You May Need
- Your address history for the past 3 years.
- Your employer's address (if employed).
- Details of your income and outgoings (for current accounts, especially if you're requesting an overdraft, or for mortgage applications).
- For joint accounts, both applicants will need to provide their identity and address proofs.
Step 3: Choose Your Application Method – Online, App, or In-Branch?
Nationwide offers several convenient ways to apply for an account. Pick the one that suits you best!
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Sub-heading 3.1: Applying Online (Website)
This is often the quickest way for many current and savings accounts.
- Visit the Nationwide Website: Go to nationwide.co.uk and navigate to the 'Current Accounts' or 'Savings & ISAs' section.
- Select Your Desired Account: Click on the specific account you wish to open.
- Check Eligibility: Most account pages will have clear eligibility criteria. Ensure you meet them before proceeding.
- Start Your Application: Look for a button like "Apply Online" or "Open Account."
- Complete the Application Form: This will involve entering your personal details, address history, employment information, and financial details. Be prepared to upload scans or photos of your ID and proof of address if prompted.
- Online Verification: Nationwide will attempt to verify your identity and address electronically. If successful, you'll receive confirmation relatively quickly. If not, they may ask you to visit a branch to complete the verification.
Sub-heading 3.2: Applying via the Mobile Banking App
If you're already a Nationwide member or prefer to use your smartphone, the app can be very convenient.
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- Download the Nationwide Banking App: Search "Nationwide mobile banking" on the Google Play Store (Android) or Apple App Store (iOS).
- Log In or Register: If you're an existing member, log in. If not, you might be able to start an application directly through the app, or you may need to register for online banking first (which can sometimes require a new account to be open for a few days).
- Navigate to Products & Applications: Within the app, look for a section related to opening new accounts or applying for products.
- Follow On-Screen Prompts: The app will guide you through the application process, often allowing you to use your device's camera to scan documents or take a selfie for identity verification.
Sub-heading 3.3: Applying In-Branch
For those who prefer face-to-face assistance or if online verification isn't possible, visiting a branch is a great option.
- Find Your Nearest Branch: Use the "Branch Finder" tool on the Nationwide website to locate your closest branch and check their opening hours.
- Book an Appointment (Recommended): While walk-ins might be possible, booking an appointment ensures a dedicated advisor can assist you without a long wait.
- Bring All Documents: Crucially, remember to bring all your original proof of identity and address documents as listed in Step 2.
- Speak with an Advisor: A Nationwide advisor will guide you through the application process, answer any questions, and verify your documents on the spot.
Step 4: Await Confirmation and Activate Your Account – Getting Started
Once you've submitted your application, the waiting game begins – but usually not for long!
- Application Processing: Nationwide will review your application. This can be instant for online applications with successful electronic verification, or it might take a few business days if manual checks are needed.
- Confirmation: You'll receive confirmation once your account is opened. This might be an email, a message in your online banking, or a letter by post.
- Welcome Pack: Shortly after, you'll receive a welcome pack in the post. This typically includes:
- Your new debit card (for current accounts).
- Your PIN (sent separately for security).
- Details on how to set up online banking (if you haven't already) and the mobile app.
- Your account number and sort code.
Sub-heading 4.1: Setting Up Online Banking and the Mobile App
Even if you applied in-branch, you'll want to get set up with digital banking.
- Register for Internet Banking: Follow the instructions in your welcome pack or visit the Nationwide website to register. You'll typically need your account details, name, address, email, and mobile number.
- Download and Enrol the Mobile App: Once registered for internet banking, download the app (if you haven't already). You can usually enrol using your card details or customer number.
- Set Up Biometrics: For added convenience and security, set up Face ID or Touch ID (fingerprint recognition) if your device supports it. This allows for quick and secure logins and payment authorisations.
- Card Reader (Optional but Recommended): For certain transactions and higher security, Nationwide may send you a card reader. Keep it safe!
Sub-heading 4.2: Funding Your Account
Once your account is active, you can start using it!
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- Transfer Funds: Use your new account number and sort code to transfer money from another bank account.
- Set Up Direct Debits and Standing Orders: If you're switching accounts, you can use Nationwide's Current Account Switch Service, which guarantees a smooth transfer of all your payments. Otherwise, you can set these up manually through online banking, the app, or in-branch.
Step 5: Start Managing Your Finances – Making the Most of Nationwide
Now that your Nationwide account is set up, it's time to take control of your money.
Sub-heading 5.1: Managing Your Account Digitally
- Monitor Transactions: Use the online bank or mobile app to view your transactions, check your balance, and track your spending. The app often provides enriched transactions with logos and locations for clarity.
- Make Payments: Pay new people or companies, set up standing orders, and transfer money between your Nationwide accounts easily.
- Manage Your Card: Freeze/unfreeze your debit card if lost, report it stolen, and verify online purchases securely.
- Personalise Settings: Update your personal details, set up text alerts for account activity, and switch to paperless statements.
Sub-heading 5.2: Utilising Member Benefits
As a mutual society, Nationwide is owned by its members. This often means:
- Fairer Share Payments: Nationwide has recently distributed annual bonuses to eligible members based on their financial performance. Keep an eye out for these!
- Member-Only Products: Access to exclusive savings accounts, credit cards, and loans.
- Savings Promises: Nationwide has commitments to its savers, such as paying interest immediately on ISA transfers.
By following these steps, you'll be well on your way to successfully setting up and managing your Nationwide account!
10 Related FAQ Questions
How to choose the right Nationwide account for me?
- Quick Answer: Consider your primary need: everyday banking (FlexAccount, FlexDirect), packaged benefits (FlexPlus), student needs (FlexStudent), or saving goals (various savings accounts/ISAs). Review the features and fees of each on the Nationwide website.
How to apply for a Nationwide account if I don't have a UK passport or driving licence?
- Quick Answer: You can still apply, but you'll likely need to visit a Nationwide branch with alternative proof of identity and address documents. Check their "Proving your identity" page for accepted alternatives.
How to transfer money into my new Nationwide account?
- Quick Answer: Once your account is open, use your new Nationwide account number and sort code to make a bank transfer from another account, either online, via your other bank's app, or in-branch.
How to set up online banking for my Nationwide account?
- Quick Answer: You'll typically receive instructions in your welcome pack. Visit the Nationwide website, click "Register for Internet Bank," and follow the prompts, using your account details, name, address, email, and mobile number.
How to download and use the Nationwide mobile banking app?
- Quick Answer: Search "Nationwide mobile banking" on your phone's app store (Google Play for Android, Apple App Store for iPhone), download it, and then enrol using your Nationwide account details or customer number.
How to switch my existing bank account to Nationwide?
- Quick Answer: Nationwide offers the Current Account Switch Service (CASS). When applying for a new current account, indicate that you wish to switch, and they will manage the transfer of all your direct debits, standing orders, and incoming payments.
How to order a card reader from Nationwide?
- Quick Answer: While less frequently needed now, you can usually order a new card reader online through the Internet Bank, by calling customer service, or by visiting a branch.
How to check my Nationwide account balance?
- Quick Answer: You can check your balance instantly via the Nationwide mobile banking app, the Internet Bank, at any Nationwide cash machine, or by calling their automated telephone banking service.
How to contact Nationwide customer service?
- Quick Answer: You can contact Nationwide by phone (03457 30 20 11, 8am-8pm, 7 days a week), via live chat on their website, or by visiting a local branch.
How to close a Nationwide account?
- Quick Answer: You can usually close a Nationwide account by contacting them via phone, writing to them, or visiting a branch. Ensure all Direct Debits and Standing Orders are cancelled or moved to a new account before closing.
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