Regular Savings - managing your savings account

If you have any questions about managing your Regular Savings account, check the frequently asked questions below to see if we can help (just click the question and the answer will appear underneath). If you need more help, please contact us, or pop into your local Nationwide branch for advice on which are the best savings accounts for you.

• How can I pay money into my Regular Savings account?

  • you can set up a standing order or regular payment from your current account
  • using your Regular Savings cash card, you can pay money in at any Nationwide cash machine
  • you can also transfer money in online or via Telephone Self Service 
  • you can increase your balance by up to £1,000 a month, but no more than that
  • you don't have to make any payments at all if you ever need to take a break from saving

• How do I withdraw money from my Regular Savings account?

  • money in your account is not tied up – if you need access to your money, you can make withdrawals at any time
  • you can withdraw up to £300 a day at over 56,000 Nationwide or LINK cash machines, free of any Nationwide charge
  • for larger amounts, you can withdraw between £300 and £500 using your card at any Nationwide branch and up to £300,000 in the form of a Nationwide cheque
  • you can check your balance or transfer money to other Nationwide accounts online or via Telephone Self Service
  • with your card, you can also top up a pay-as-you-go mobile phone

  Remember, this account is designed to help you save. Although you can make unlimited withdrawals, your interest rate depends on the overall increase in your balance each month

• How do I keep track of my Regular Savings account?

  After signing on to Nationwide's Internet Banking service you will be able to view up to the last 15 months of transactions on your account

• When is my Regular Savings interest paid?

  Interest on your Regular Savings is paid annually on the 31 October.

• How is interest calculated?

  To encourage you to save, and keep on saving, the rate you get doesn't depend on how much money you have in your account, but instead on how much you increase your balance by each month.

  Rates are tiered – so the more you increase your balance by, the higher the rate of interest you earn that month. And the rate applies to all the money in your account.

  If in any month the balance reduces or increases by less than £100, money in your account still earns a competitive rate of interest for that month.

• Can I have more than one Regular Savings account?

  No, you may only hold one Regular Savings account whether it is sole or joint.

• How do I close my Regular Savings account?

  Please visit your local branch with your Regular Savings card and proof of ID.

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

  You need to complete and return an R85 form. For more information, see here.

• 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.