Regular Savings - Managing your account

If you have any questions about managing your Regular Savings account have a look at the frequently asked questions below, just click the question and the answer will appear underneath.

How can I pay money into this account?

You can increase your balance by up to £1,000 a month but you don't have to make any payments at all if you ever need to take a break from saving.

• you can set up a standing order or regular payment from your current account
• using your cash card, you can pay money in at any Nationwide cash machine
• you can transfer money in online or via Telephone Banking

How do I withdraw money from this account?

Withdrawals can be made at any time:

• by cash up to £300 per day at any Nationwide or LINK cash machine free of charge
• by cash (up to £500 per day) or cheque (up to £500,000 per day) at any Nationwide branch transfer to another Nationwide account, using the Internet Bank or Telephone Banking
• 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 account?

You can view up to the last 15 months of transactions on your account via the Internet Bank.

When is my interest get 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.

Can I have more than one of these accounts?

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

How do I close this account?

This account can be closed at any Nationwide branch. Identification in the form of a passport or drivers licence (paper version or card with green paper counterpart) will be required.

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 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 Nationwide branch.