CHAPS payments

SWIFT payments

SEPA Credit Transfers

All about SEPA Credit Transfers

SWIFT cannot be used to make payments in Euros to an account within the Single Euro Payments Area (SEPA), you will need to make a SEPA Credit Transfer instead.

What is a SEPA Credit Transfer ?

What is a SEPA Credit Transfer?

A SEPA Credit Transfer is a way of making payments in Euros to an account within the Single Euro Payments Area (SEPA).

There is a charge for this service (charge not applicable for FlexOne or FlexStudent).

SEPA Credit Transfers can only be made in Euros.

SEPA Credit Transfers can only be made from current accounts.

Make a SEPA Credit Transfer online

How to make a SEPA Credit Transfer online

If you're registered for our Internet Banking service you can ask us to make a SEPA Credit Transfer online from your current account, 24 hours a day, using your card reader. If you don't have a card reader, simply follow the on-screen instructions to complete your transaction.

Making your payment

  1. Log in to the Internet Bank
  2. Find 'Other payments'
  3. In the section 'Make a payment using SEPA' choose your account
  4. Select Go
  5. Follow the on-screen instructions

The SEPA form will ask for the following details:

  • The payment destination, which is the country you're sending the money to 
  • The name and address of the beneficiary (which is the person you're sending the money to) 
  • The International Bank Account Number (IBAN) for the beneficiary

Important

  1. Make sure you have all the correct details of the person receiving the money, including their name and address.
  2. Check you have their IBAN
  3. Check if the bank receiving the money needs any additional information about the beneficiary or payment before you send the money.
  4. If you have a card reader with your account, make sure you have it to hand as you will need it to complete your transaction.
  5. If you are making a SEPA Credit Transfer from your FlexBasic account and you have a card which cannot be used in a card reader, you will need a printer. Once you have completed the postal form within Internet Banking, you will need to print it off, sign and post to us.
  6. Before you submit your payment instruction please be sure that the details are correct. A payment can only be cancelled if you’ve made duplicate payments by mistake or someone else has fraudulently made the payment from your account or a technical error has led to an erroneous payment being made. In that case you can request us to cancel the payment within 10 working days of the payment date, although there is no guarantee that the recipient’s bank will return the payment.

Beneficiary IBAN

IBAN stands for International Bank Account Number and it's issued in a standard internationally recognised format. It must be used for payments made outside of the UK or within the UK in a currency other than sterling. This includes SWIFT payments and euro payments to an account within the Single Euro Payments Area (SEPA) by SEPA Credit Transfer.

The IBAN can be found on the front of your statement.

SEPA Credit Transfers will not be processed without a valid IBAN. The beneficiary should provide the sender with the information needed, if the beneficiary does not know their IBAN, they can obtain this from their account provider.

An IBAN consists of a:

  • Country code - to identify the country the money is going to. 
  • Check number - this is a 2 digit number calculated by the bank issuing the IBAN and is used to validate the IBAN.
  • Bank code - to identify the bank. 
  • Sort code and account number - to identify the customer the money is going to

Examples of IBANs are DE89370400440532013000 (Germany) or ES0700120345030000067890 (Spain).

There should not be any spaces in between any of the letters or numbers in an IBAN.

Make a SEPA Credit Transfer in branch

How to make a SEPA Credit Transfer in branch

You can ask us to make a SEPA Credit Transfer, on working days, during opening hours at a branch.

To make a SEPA Credit Transfer, the following information will be required:

  • your Nationwide current account card, 
  • and  if your request is over £2000, a valid passport or photo card driving licence

The SEPA form will ask for the following details:

  • The payment destination, which is the country you're sending the money to 
  • The name and address of the beneficiary (which is the person you're sending the money to) 
  • The International Bank Account Number (IBAN) for the beneficiary

Important

  1. Make sure you have all the correct details of the person receiving the money, including their name and address.
  2. Check you have their IBAN
  3. Check if the bank receiving the money needs any additional information about the beneficiary or payment before you send the money.
  4. If you have a card reader with your account, make sure you have it to hand as you will need it to complete your transaction.
  5. Before you submit your payment instruction please be sure that the details are correct. A payment can only be cancelled if you’ve made identical payments by mistake or someone else has fraudulently made the payment from your account or a technical error has led to an erroneous payment being made. In that case you can request us to cancel the payment within 10 working days of the payment date, although there is no guarantee that the recipient’s bank will return the payment.

Beneficiary IBAN

IBAN stands for International Bank Account Number and it's issued in a standard internationally recognised format. It must be used for payments made outside of the UK or within the UK in a currency other than sterling. This includes SWIFT payments and euro payments to an account within the Single Euro Payments Area (SEPA) by SEPA Credit Transfer.

The IBAN can be found on the front of your statement.

SEPA Credit Transfers will not be processed without a valid IBAN. The beneficiary should provide the sender with the information needed, if the beneficiary does not know their IBAN, they can obtain this from their account provider.

An IBAN consists of a:

  • Country code - to identify the country the money is going to. 
  • Check number - this is a 2 digit number calculated by the bank issuing the IBAN and is used to validate the IBAN. 
  • Bank code - to identify the bank. 
  • Sort code and account number - to identify the customer the money is going to

Examples of IBANs are DE89370400440532013000 (Germany) or ES0700120345030000067890 (Spain).

There should not be any spaces in between any of the letters or numbers in an IBAN.

Receive a SEPA Credit Transfer

Receive a SEPA Credit Transfer

You're not charged a transaction fee by Nationwide to receive a SEPA Credit Transfer into your account.

To receive a SEPA Credit Transfer from someone outside the UK, you’ll need to provide the sender of the payment with your:

  • name and address 
  • International Bank Account Number (IBAN)

Your BIC and IBAN can be found at the top or your statement

Note: SEPA Credit Transfers can only be received into Nationwide current accounts.

We will use our standard inbound exchange rate to convert the payment into sterling before we apply it to your account.

SEPA Credit Transfer limits

SEPA Credit Transfer limits

Providing there are sufficient cleared funds available or a covering pre-arranged overdraft to cover your transaction and charge, there is no minimum or maximum transfer limit.

Charges

Charges

Sending money

The transaction charge for sending a SEPA Credit Transfer from a current account is £9 (charge not applicable for FlexOne or FlexStudent).

SEPA Credit Transfers can only be made from current accounts.

We will use our standard outbound exchange rate to convert your payment into Euros. We will tell you the current rate before we make your payment.

Receiving money

There is no Nationwide transaction charge for receiving a SEPA Credit Transfer into your account.

We will use our standard inbound exchange rate to convert the payment into sterling before we apply it to your account.

Processing times

Processing times

When payments can be initiated by
You can ask to initiate a SEPA Credit Transfer at any time using Internet Banking or during opening hours at a Nationwide branch.

FlexBasic customers, who have a card that cannot be used in a card reader, can send us their SEPA Credit Transfer instructions by post. They will need to log on to the Internet Bank and follow the on-screen instructions to complete the postal form, print it off, sign and post to us.

When payments are processed by Nationwide
Payments are made by Nationwide on working days only. Payments due to be made on a weekend or bank holiday will be sent on the next working day.

When payments normally arrive in the recipient’s bank
Payments arrive within one working day (two working days if you have sent us a postal* instruction). If we receive your payment instruction before 11.30am on a working day, your payment will arrive that day.

*Postal Instructions can only be used by FlexBasic customers

Important information

Important information

  1. Your name, address and NBS account number will appear on this payment when it is sent to the recipient’s bank. 
  2. We will advise you of the exchange rate that will apply to the conversion of your payment from sterling into euros and you accept that rate by signing the form. 
  3. We will charge you a transaction fee of £9 to make this payment.  If you have a FlexOne or FlexStudent account this charge does not apply. 
  4. In the event of the payment being returned or recalled, our exchange rate prevailing on the day that we receive the payment back will be used to convert your payment back into sterling. This may be a higher or lower rate than the one applied when the payment was sent. 
  5. SEPA Credit Transfers will normally arrive at the recipient’s bank within one working day of the day we receive your payment instruction.  However, if we receive your payment instruction before 11.30am on a working day your payment will arrive that day.

SEPA payments are subject to exclusions and restrictions, you can find more information within Nationwide's Sanctions Policy Statement - payments.

Note: A payer can recall a SEPA Credit Transfer within 10 working days of it being paid into your account. If this happens we will deduct the SEPA Credit Transfer from your account.

SEPA FAQs

Payments

SEPA Credit Transfers must be used when you make Euro payments to an account within the Single Euro Payments Area (SEPA). SWIFT Payments are used for all other overseas and foreign currency payments.

Accounts

SEPA Credit Transfers can only be made from current accounts.

Details

For SEPA Credit Transfers you only need to provide the beneficiary name, address and International Bank Account Number (IBAN). You do not need to provide a Bank Identification Code (BIC) when making a payment from your Nationwide current account, Nationwide will derive it for you.

Cancellations and recalls

SEPA Credit Transfers can’t normally be stopped after we’ve accepted your instruction. A payment can only be cancelled if you’ve made identical payments by mistake or someone else has fraudulently made the payment from your account or a technical error has led to an erroneous payment being made. In that case you can request us to cancel the payment within 10 working days of the payment date, although there is no guarantee that the recipient’s bank will return the payment.

You can only make a SEPA Credit Transfer from your current account.

In an emergency, you can telephone the branch where you opened your current account to arrange a SEPA Credit Transfer. Please make sure you have the relevant information in order to complete the transaction:

  • Beneficiary name and address
  • International Bank Account Number (IBAN)

You can only ask us to cancel a SEPA Credit Transfer if you’ve made identical payments by mistake or someone else has fraudulently made the payment from your account or a technical error has led to an erroneous payment being made. In that case you can request us to cancel the payment within 10 working days of the payment date, although there is no guarantee that the recipient’s bank will return the payment.

If you know you’ve made a mistake please contact us immediately on 0800 30 20 11 (or +44 1793 65 67 89 if you are calling from outside the UK).

Investigating payments

If you require us to investigate a payment processed by us, please be aware that agent banks may levy charges for their parts in this service. These charges are not within Nationwide’s control and will usually be passed on to you.

Use of your information

To complete the payment and comply with applicable legal obligations and prevent crime, the details of your CHAPS & SWIFT payments and SEPA Credit Transfers (including personal information relating to individuals named on the form) may be provided to overseas authorities.

Nationwide must process all CHAPS & SWIFT payment and SEPA Credit Transfer instructions in a manner which ensures they comply with all legal and regulatory requirements for inbound and outbound payments. In order to meet these responsibilities, Nationwide may need to contact internal or external parties for additional information and clarification with regard to CHAPS & SWIFT payment and SEPA Credit Transfer instructions and therefore payments are not guaranteed to be released or received on the same day.