Ready to supercharge your savings without even feeling it? Nationwide's "Save as you Spend" feature, often referred to as their "round-up" tool, is a fantastic way to do just that! It automatically rounds up your debit card transactions to the nearest pound and sweeps the spare change into a designated savings account. Imagine all those small amounts adding up over time – it's like magic for your money!
This guide will walk you through every step of setting up and managing Nationwide's round-up feature. Let's get started on building that savings pot!
How to Set Up Round Up on Nationwide: Your Step-by-Step Guide
Before you begin, ensure you have a Nationwide current account and a suitable Nationwide savings account. The round-up feature is designed to move money from your current account into a linked savings account. If you don't have a savings account with Nationwide yet, you might want to open one, such as their Flex Instant Saver or another eligible option.
Step 1: Get Access to Nationwide's Digital Banking
Are you already set up with the Nationwide Banking App or Internet Bank? If so, fantastic – you're one step ahead! If not, this is your crucial first move. The round-up feature is primarily managed through these digital platforms, offering convenience at your fingertips.
Sub-heading: Option 1: Downloading and Setting Up the Banking App
- Find the App: Open your phone's app store (Google Play Store for Android or Apple App Store for iPhone). Search for "Nationwide Banking App."
- Download and Install: Tap the download/install button. Make sure you're on a secure Wi-Fi connection.
- Enroll in the App: Once installed, open the app. You'll be prompted to enroll. This usually involves entering your card details or customer number. Follow the on-screen instructions carefully.
- Set Up Your Login: You'll likely create a passnumber or set up biometric login (like Touch ID or Face ID) for quick and secure access. Remember these details carefully!
Sub-heading: Option 2: Registering for the Internet Bank
- Visit the Nationwide Website: Go to the official Nationwide website (nationwide.co.uk).
- Locate Internet Banking: Look for a "Login" or "Internet Banking" section, usually found at the top right of the homepage.
- Register: Click on the option to "Register" for Internet Banking.
- Provide Details: You'll need your account number and sort code, or your credit card, personal loan, or mortgage number to register.
- Verification: Nationwide will send you codes via email and text message for verification. Enter these codes when prompted.
- Create Login Details: You'll set up a username and password. Keep these secure and memorable!
Note: If you recently opened an account online, you might be automatically registered for online banking, with login details sent in the post. If opened in branch or over the phone, wait about 6 working days before registering online.
Step 2: Accessing the Impulse Saver Tool (Round-Up Feature)
Nationwide's round-up functionality is part of their "Impulse Saver" tool within the Banking App. This is where the magic happens!
- Log In: Open your Nationwide Banking App and log in using your passnumber or biometrics.
- Navigate to Savings Tools: Look for a section related to "Savings" or "Ways to Help You Save." You might see a dedicated "Impulse Saver" option or a general "Savings Goals" area. Nationwide's app interface can sometimes change slightly, but these are common locations.
- Find "Round-ups": Within the Impulse Saver section, you should clearly see an option for "Round-ups." This is the feature we want to activate.
Step 3: Activating and Configuring Round-Ups
This is where you tell Nationwide how you want your spare change to be saved.
- Select "Round-ups": Tap on the "Round-ups" option.
- Choose Your Current Account: If you have multiple Nationwide current accounts, you'll need to select the one from which you want transactions to be rounded up. This is typically your primary spending account.
- Select Your Destination Savings Account: Next, you'll be asked to choose the Nationwide savings account where your rounded-up funds will be transferred. This must be a suitable savings account that accepts payments. Make sure you select the correct one – perhaps one specifically for your savings goals!
- Confirm Activation: The app will likely ask you to confirm that you want to enable the round-up feature. Read any on-screen information or terms carefully. You might need to agree to specific terms and conditions related to the Impulse Saver tool.
- Set Your Round-Up Preferences (if applicable): While Nationwide's basic round-up typically rounds to the nearest pound, some banking apps offer options to modify this (e.g., doubling the round-up). Check if Nationwide offers any advanced settings for you to customize. For most users, the default nearest-pound round-up is perfect.
And just like that, you've set up your Nationwide round-up! From now on, every time you make an eligible debit card transaction, the difference to the nearest pound will be automatically calculated as "spare change."
Step 4: Understanding How it Works and Monitoring Your Savings
Once activated, the round-up feature will work in the background.
Sub-heading: How Transactions are Rounded Up
- Example 1: You buy a coffee for £3.20. Nationwide will round this up to £4.00, and 80p will be set aside as spare change.
- Example 2: You pay £15.75 for groceries. This will be rounded up to £16.00, and 25p will be set aside.
- Example 3: If a transaction is an exact pound (e.g., £5.00), no round-up will occur for that specific transaction.
Sub-heading: When Funds Are Transferred
Nationwide typically accumulates your spare change over a period, often a week, before making a single transfer to your designated savings account. This means you won't see a tiny transfer after every single transaction, but rather a consolidated sum. The app should show you the amount of spare change accumulated for the current period.
Sub-heading: Monitoring Your Progress
- Check the App Regularly: The Nationwide Banking App is your best friend for tracking your round-up savings. You should be able to see:
- Accumulated spare change for the current week.
- History of transfers into your savings account.
- The growing balance in your linked savings account.
- Review Statements: Your bank statements for both your current and savings accounts will reflect the round-up transfers. These will typically appear as a single, periodic transfer from your current account to your savings account.
Step 5: Managing and Adjusting Your Round-Up Settings
Life changes, and so might your saving habits! Nationwide allows you to manage your round-up settings.
Sub-heading: Pausing or Disabling Round-Ups
- Access Impulse Saver: Go back into the "Impulse Saver" or "Round-ups" section within the Banking App.
- Find the Option to Pause/Disable: There should be a clear option to "Pause Round-ups" or "Disable Round-ups." If you pause, you can usually re-enable it later without going through the full setup.
- Confirm Your Choice: Follow the prompts to confirm your decision.
Reasons to pause: You might be going through a period where you need every penny in your current account, or perhaps you're focusing on a different savings strategy temporarily.
Sub-heading: Changing the Linked Savings Account
If you want your round-ups to go into a different Nationwide savings account, you might need to disable the feature and then re-enable it, selecting the new desired savings account during the setup process. Always check the app for specific options to "change linked account."
Frequently Asked Questions (FAQs)
How to:
How to check if I'm eligible for Nationwide round-up?
To be eligible, you generally need to have a Nationwide current account and a suitable Nationwide savings account. The feature is primarily available through the Nationwide Banking App.
How to find the "Impulse Saver" tool in the Nationwide app?
After logging into the app, look for sections like "Savings," "Ways to Help You Save," or "Goals." The "Impulse Saver" tool, which includes round-ups, is usually found within one of these categories.
How to change the savings account linked to my round-ups?
You typically need to go into the "Round-ups" settings within the Impulse Saver tool. You might have an option to "Change linked account" directly, or you may need to disable the feature and then re-enable it, selecting the new desired savings account during the re-setup.
How to see how much I've saved with round-ups?
In the Nationwide Banking App, navigate to the "Impulse Saver" or "Round-ups" section. You should see a running total of your accumulated spare change and a history of transfers made to your savings account.
How to pause or stop my Nationwide round-ups?
Within the "Round-ups" settings in the Banking App, there will be an option to "Pause" or "Disable" the feature. Select this and confirm your choice.
How to restart round-ups after pausing them?
Simply go back into the "Round-ups" section in the Banking App and select the option to "Enable" or "Restart" them. The settings should generally be saved from your previous setup.
How to ensure all my debit card transactions are rounded up?
Nationwide's round-up feature generally applies to all eligible debit card transactions. As long as the feature is active and linked to your spending account, it should automatically round up. There are usually no specific settings to toggle individual transactions.
How to know when the round-up funds are transferred to my savings?
Nationwide typically accumulates your spare change over a set period (e.g., weekly) before making a single, consolidated transfer to your linked savings account. You can usually see the pending amount in the app.
How to contact Nationwide support if I have trouble setting it up?
You can contact Nationwide customer service via phone (check their official website for current numbers), through their live chat feature on the website or app, or by visiting a local branch.
How to use the savings built up from round-ups?
The funds are transferred into a regular Nationwide savings account, so you can access them as you would with any other money in that account, subject to the terms and conditions of that specific savings product. You can transfer them to your current account or withdraw them as needed.
