How to withdraw money from your savings account, ISA or bond

What is a nominated account?

A nominated account is an account you are named on that you set up to receive withdrawals from your Nationwide savings account.

It can be either:

• a Nationwide current account
• a Nationwide savings account
• a UK current account with another provider that accepts Faster Payments

For joint savings accounts, the nominated account can either be in one or both account holders’ names. You can only have one nominated account per savings account.

How do you find out what your nominated account is?

The easiest way to find out your nominated account is through online banking:

1. Log into our internet bank.
2. Use the dropdown list next to your savings account to select Manage my nominated account.
3. Select Go.

This will tell you if you have a nominated account and which account it is.

We have a step-by-step demo showing how to do this if you need help.

You can also ask us in any Nationwide branch.

What happens if I switch or close my nominated account?

You can update your nominated account through online banking.

Follow the same steps for finding out what your nominated account is.

You can also ask us to update your nominated account in any Nationwide branch.

This can sometimes happen when you have never moved money to your nominated account using our internet bank.

Sending a payment through our internet bank first can help authenticate the nominated account.

Try logging into our internet bank and completing a ‘Quick transfer’ to your nominated account. You can find this in the left-hand sidebar after logging in. View our step-by-step demo on nominated accounts for support with quick transfers.

For all future withdrawals to your nominated account, you should be able to use our banking app.

If you are sure you want to close your account, follow our steps for how to close a savings account.

For fixed rate accounts, you might not be able to close your account early or might have to pay an early access charge.

Check your account’s terms and conditions before deciding what to do.

A fixed rate savings account is designed to give you the security of knowing your interest rate will not change. You agree to lock your money away for a certain term, for example 1 year, and in return you know how much interest you will earn.

If your fixed rate account has not yet matured

Usually, you cannot withdraw money from a fixed rate savings account until it matures. This happens at the end of the term. Sometimes, you can withdraw the money early if you close the account and pay an early access charge.

Check your account’s terms and conditions before deciding what to do. You can then visit our page on how to close a savings account.

If your fixed rate account has already matured

If your account has already matured, we will have contacted you about this either by email or post.

You can now visit our pages on ISA maturity or bond maturity to tell us what to do with your money.

We accept most forms of ID, such as a driving licence or passport. If you have a cash card with your savings account, we can also accept this as ID.

If you want to withdraw more than £500, we will go through some security questions with you. Withdrawals over £500 are subject to the funds being available in your branch.

If you are looking to take out cash, we recommend giving your branch at least 1 full working day’s notice (Saturday is not a working day). They may need to order in the cash ready for your withdrawal.

Find your nearest branch