Withdrawing from the Paym service
We've removed Paym as a payment method for our members.
Published on: 9 January 2023
On 9 January 2023, we exited the Paym service. This means members can no longer use Paym to make payments.
On 7 March 2023, the Paym service will close completely.
Why we've withdrawn from the Paym service
As a mutual, we have to make sure that we're spending our members' money wisely. And we regularly review what we're spending where.
The Paym service was only being used by a very small number of members. So we believed it wasn't cost-effective to continue with this service. We want to focus on the payment methods that most of our members are using.
How members are impacted
You don't have to do anything now we've left the Paym service. You will have been automatically de-registered if you had signed up.
Now we've left, you'll no longer be able to:
- register for the service
- make payments using the service, or
- receive payments to your Nationwide current account using the service.
Paym will still send you a text message if someone tries to pay you using their service. No money will leave that person's account. You should contact the person trying to pay you to find a different way for them to send you money.
Alternative ways to make a payment
Money sent through Paym uses what's called the Faster Payments service. You can still makes these payments using:
There are limits on how much you can send each day through this service.
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