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, as once a faster payment has been submitted it cannot be cancelled. Entering details incorrectly could mean your money ends up in the wrong account and it may not be possible to retrieve the funds.

Faster Payments does not apply to Direct Debits.

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.

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 faster payments

Have you received a letter about your payment instruction?

If you have, it’s because one or more of your payments cannot receive Faster Payments. We're letting you know because we will not be able to make these payment(s) on your behalf.
 
If you still want these payments to be made on your behalf, you will need to contact the person you want to pay and ask them what payment options are available. They may offer you an alternative account number or advice on how you can make the payment.  Once you have this information you can update your instruction online or at a branch.

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 02 46
07 44 56
07 01 16
 Yes  Yes
Business Investor
07 00 55
 Yes
 Yes
Portfolio Investor
07 00 66
 Yes
 Yes
CashBuilder and Invest Direct 07 00 30
 Yes
 No
60 Day Direct 07 00 93  No  Yes
Investment Credits 07 00 93   Yes
 No
CashBuilder, SMART and Invest Direct 07 10 40  Yes
 No
UCB Homeloans 07 30 15  Yes
 No
Commercial lending 07 30 13
 Yes
 No
Personal Loans 07 00 70
 Yes
 No
Credit card 07 30 12
 Yes
 No
NBS mortgage 07 00 94
 Yes
 No

Internal faster payments

Have you received a letter about your payment instruction?

If you have, it’s because one or more of your payments cannot receive Faster Payments. We're letting you know because we will not be able to make these payment(s) on your behalf.
 
If you still want these payments to be made on your behalf, you will need to contact the person you want to pay and ask them what payment options are available. They may offer you an alternative account number or advice on how you can make the payment.  Once you have this information you can update your instruction online or at a branch.

Internal transfers between your Nationwide accounts

Account  Sort Code(s)  Timescales 
Current account
07 02 46
07 44 56
07 01 16
Immediate
Cash Builder and invest direct
07 00 30
Immediate
Business Investor 07 00 55
Immediate
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