The Faster Payments Service allows customers to make (free) Sterling payments within the UK almost instantaneously, 24 hours a day, seven days a week. At Nationwide the payments are initiated via the Internet Bank, Telephone Banking, Mobile Banking, an ATM or at a Nationwide Branch.

When making a Faster Payment it is vital to use the correct sort code, account number and name of the person or business you want to pay. Once a Faster Payment has been submitted it cannot be cancelled (Faster Payments does not apply to Direct Debits).

When making electronic payments, please follow the guidance below:

  • Always double check the sort code and account number when sending a payment.
  • Check the amount and payment reference, particularly if you are paying a business or paying a bill
  • If you are setting up a payment to a large organisation through our Internet Bank, please look it up using our organisation search to ensure you use the correct account details.
  • Once a payment has been sent it is not possible to cancel it. If you think you have sent a payment to the wrong account it is important to act quickly. If you are unable to recover the funds with the receiver directly, please contact us immediately.
  • Likewise, if you have received money into your account that you think might have been sent to you in error, contact us immediately.

If you have made a payment incorrectly and have been unable to resolve this direct with the receiver, you need to either telephone Nationwide Direct or visit any Nationwide branch and we will attempt to recover the funds, however there is no guarantee that this will be possible.

Nationwide subscribes to the Payment Councils - Voluntary: Misdirected Payments Code of Best Practice. For Nationwide customers this means that once you inform us that an electronic payment (made via Bacs or Faster Payment) has been made in error, within two working days we will contact the receiving bank in order to try and recover the funds. The receiving bank then has a further 18 days to respond to the request to return funds (20 days in total). Once a response is received from the receiving bank we will notify you of the outcome of the investigation.

If funds cannot be recovered we will include information in our notification to you on the options you have available.

What type of payments will be made through Faster Payments?

Single Immediate Payments

Single Immediate Payments (SIPs) are payments that are made via the Internet Bank, Telephone Banking, Mobile Banking, an ATM or at a Nationwide Branch and the transaction is made straight away. These types of payment can be made at any time (24 hours a day, seven days a week).

Forward Dated Payments

Forward Dated Payments (FDPs) are individual, one-off payment set up to be made at a future date. For example, some people will arrange to pay all their bills at the beginning of the month, setting the payments up in advance, having the money debited on a specified date in the future. This type of payment can be set up for any day, including bank holidays and weekends.

Standing Order Payments

Standing Order Payments (SOPs) are regular payments made on a specific date for the same amount, to the same person or beneficiary. These payments will be made on 'working days' only, i.e. Monday to Friday excluding bank holidays. If the specified date falls on a weekend or bank holiday, the payment will be sent on the next working day.

Do you have funds to cover a payment?

When you're making a future dated payment or a standing order payment you need to make sure you have sufficient funds in your account to cover the payment.

Find out more

Faster Payment limits

Originating Nationwide Channel Single Immediate Payments  Payments Standing Order Payments  Forward Dated Payments 
Internet Bank £0.01 - £10,000 £0.01 - £10,000 £0.01 - £10,000
Telephone Banking £0.01 - £10,000*  not available £0.01 - £10,000*
Mobile Banking £0.01 - £10,000**  not available £0.01 - £10,000**
ATM £0.01 - £10,000*  not available  not available
Branch  £0.01 - £9,999.99 £0.01 - £9,999.99
 not available

  • Multiple payments can be made, if the required amount to be transferred is larger than the Faster Payment individual transaction limits.
  • The individual transaction limit you can receive via Faster Payments is determined by the sending bank.

* Payments can only be made to existing payees.

** Payments can only be made to people or organisations you have paid before.

External transfers from your Nationwide account to another Nationwide, bank or building society account

Account Sort Code(s)  Receive Faster payments  Send Faster Payments 
Current account 07 01 16
07 02 46
07 04 36
07 44 56
 Yes  Yes
Business Investor
07 00 55
Portfolio Investor
07 00 66
CashBuilder and Invest Direct 07 00 30
60 Day Direct 07 00 93  No  Yes
Investment Credits 07 00 93   Yes
CashBuilder, SMART and Invest Direct 07 10 40  Yes
UCB Homeloans 07 30 15  Yes
Commercial lending 07 30 13
Personal Loans 07 00 70
Credit card 07 30 12
NBS mortgage 07 00 94

Internal transfers between your Nationwide accounts

Account  Sort Code(s)  Timescales 
Current account
07 01 16
07 02 46
07 04 36
07 44 56
Cash Builder and invest direct
07 00 30
Business Investor 07 00 55
Portfolio Investor 07 00 66 Immediate
Investments Credits 07 00 93 Immediate
CashBuilder, SMART, Invest Direct 07 10 40 Immediate
UCB homeloans 07 30 15  Same day
Commercial lending 07 30 13 Same day
Personal loans 07 00 70 Transfers normally arrive the same day the payment is made
Credit card 07 30 12 Balance is updated on the same day.
Transfers show online the next day. 
NBS mortgage 07 00 94 Transfers show online the next day.
MySave Online 20 97 78 Payments made the following day