e-Savings Plus - managing your online savings account

If you have any questions about managing your online savings account, check the frequently asked questions below to see if we can help (just click the question and the answer will appear underneath):

• How can I pay money into my online savings account?

  Funds can only be transferred from your Nationwide FlexAccount to e-Savings Plus using the Internet Bank. The easiest way is using the 'Quick Transfer' menu on the left hand side of the Internet Bank screens. Your transfer will take place immediately and your online savings account is updated online to show the new balance.

  Payments earn interest from the first day that they are in your online savings account.

  It is not possible to pay directly into e-Savings Plus - all payments must come via the FlexAccount.

  You can set up regular payments into e-Savings Plus from your FlexAccount:

  • Sign into the Internet Bank and select your FlexAccount
  • Choose 'Payments and Transfers' from the left-hand options
  • Select the 'Manage Arrangements' tab and select the link to set up a regular arrangement ('Set up a new regular arrangement')
• How do I withdraw money from my online savings account?

  Online savings account funds can only be transferred from e-Savings Plus to a FlexAccount on the Internet Bank. The easiest way is using the 'Quick Transfer' menu on the left hand side of the Internet Bank screens. Your transfer will take place immediately and your account updated to show the new balance.

  Please note that lower interest rates will be paid to customers who make 4 or more withdrawals per year or close the account. This lower rate will apply for the full 12 months following opening or the anniversary of opening.

  You can transfer up to the whole balance per day.

• No cheques can be withdrawn directly from the e-Savings Plus account.

• How do I keep track of my online savings?

  Full online savings account statements are available via our Internet Bank.

  No paper statement is provided as this is an online savings account.

• When is my e-Savings Plus interest paid?

  Nationwide online savings interest rates are calculated daily and paid annually on the anniversary of account opening. The level of interest rate paid will depend on whether 4 or more withdrawals are made.

• Can I open more than one e-Savings Plus account?

  You can only open 1 e-Savings Plus account, however you can also hold an e-Savings or e-Bond if you have more to save.

• How do I close an e-Savings Plus account?

  You can close an online savings account by signing onto the Internet Bank and requesting closure via the template under ‘other services’. This is processed electronically.

  Your closure funds will be transferred to your FlexAccount.

• Note: Closure requests sent as secure messages or email will NOT be actioned.

• I'm entitled to receive gross interest – but how do I arrange this?

  You need to complete and return an R85 form.

• How do I request a Section 352 Certificate of Interest Paid?

  Details about the S352 certificate.

• How do I change my name or address?

  There are forms available online to change your name or address. These can be found within 'Other Services' on your Internet Bank. Alternatively you can pop into your local branch.