Transfer money with a current account (2024)

What's on this page

Sending money electronically

There are 4 methods of payment from your Nationwide current account.

One-off payments

These are single payments. Single payments in the UK can be made via Faster Payments or CHAPS.

We’ll need information like the sort code, account number, name of the person or organisation you want to pay, and a payment reference.

Standing orders

These are regular payments that you can send to a person or organisation. They’re usually sent monthly or annually.

We’ll need information like the sort code, account number, name of the person or organisation you want to pay, and a payment reference.

Direct Debits

These are regular payments that are set up with a business or organisation directly.

These are usually used to pay bills, like broadband, water and energy.

Open Banking

If you’ve agreed to share your data with certain third parties, payments can also be made for you by Open Banking.

More about Open Banking

Sending money in branch

To send money in person, you just need to visit your local branch and make sure you bring:

  • the payment details of the person or organisation you’re paying

  • your debit card

  • a valid UK passport or full driving licence

  • proof of address

Find your nearest branch

What details are needed to send money?

To send money from your current account, we’ll need a few details to set them up as a payee.

To set up a new payee, you may need your card reader and we’ll need:

  • to know whether the account you’re paying is a personal or business account

  • the first and last name of the person or the name of the business you're paying

  • their 8-digit account number

  • their 6-digit sort code

  • the payment reference. If you're paying a bill, you can usually find this on the invoice.

Information:

If you’re sending money internationally via SEPA or SWIFT, you’ll need to use different details.

More about international payments

You can set up new payees online in our Banking app or Internet Bank. Not yet registered for our Internet Bank? Register for the Internet Bank today.

You can also set up new payees at your local branch.

Paying someone you've paid before

If you’ve paid someone before using your current account, they’ll be set up as a payee on your account already.

To send money to an existing payee, log in to your account on our Banking app or Internet Bank, go to the payments section and let us know how much you want to send.

You can also send money at your local branch or with a Nationwide cash machine.

Payment references for existing payees

When you set up a new payee, you’ll be asked to enter a payment reference. The payment reference you enter is used every time you pay that person or organisation in the future.

You can change an existing payment reference through our Internet Bank or by visiting your local branch.

Managing your payees

You can view, delete and manage your payees in our Banking app or Internet Bank.

Expired payees

If you don’t make a payment to someone for more than 13 months, they’ll be removed from your account. You’ll need to add their details again to pay them.

How long does it take to transfer money?

Unless you choose to pay in a different way, payments you make to others from your current account are sent using the Faster Payments Service.

Faster Payments include most single payments you send online (through our Banking app, Internet Bank or Open Banking) or in branch, whether immediately or in the future. And they include if you send money to another account you have with another building society or a bank.

With Faster Payments, once the payment leaves your account the money normally arrives within 2 hours.

Paying someone on a future date

You can schedule payments to go out immediately or on a future date.

If you want a payment to leave your account the next day, it must be set up by 10pm the working day before. If you set it up after 10pm, your payment will be sent on the next working day.

You can change or cancel a future-dated payment up to 10pm on the working day before it’s due to leave your account.

Making large payments with CHAPS

CHAPS payments can be used when you want to send more than the daily limit for Faster Payments. There’s a £15 fee for CHAPS payments. Making large payments with CHAPS can be done in branch or on our Internet Bank.

In branch

To send a CHAPS payment in branch, we’ll need:

  • the first and last name of the person or the name of business you're paying

  • the full address of the person or business you’re paying

  • their 8-digit account number

  • their 6-digit sort code

  • the payment reference

  • the name and address of their bank

  • your account passbook or debit card

  • a valid UK passport or full driving licence

  • proof of your address.

Find your nearest branch

Online

To send a CHAPS payment online, we'll need:

  • the first and last name of the person or the name of business you're paying

  • the full address of the person or business you’re paying

  • their 8-digit account number

  • their 6 digit sort code

  • the payment reference

  • the name and address of their bank

  • a code from your card reader.

How to request the payment online

  1. Log in to the Internet Bank. Not yet registered for our Internet Bank? Register for the Internet Bank today.
  2. Click on the Move money tab at the top of the page.
  3. Find the Other Payments section at the bottom of the page.
  4. Where it says Make a payment using CHAPS, select the account you want to pay with and press 'Go'.
  5. Follow the on-screen instructions to make the CHAPS payment.

Timescales for CHAPS payments

CHAPS payments requested online before 3pm will arrive the same working day. Those requested after 3pm will arrive the next working day.

If you request a CHAPS payment in branch before 3pm, it will arrive the same working day. Those requested after 3pm will arrive the next working day.

How much money can you send?

To help keep your money safe, there are limits on certain payments you make to others from your Nationwide current account.

More about payment limits

Is a bank transfer safe?

Online bank transfers are a safe and secure way to send money.

There are lots of safeguards in place to help ensure the money you send goes to the right place. We always check that any payment request has come from you. We do this by asking for a combination of your security details such as your fingerprint or codes from your card reader or mobile. You’ll need to check and confirm the details are correct to authorise payments.

If you’re having trouble with your card reader, view our card reader supportpage.

There are also robust security features on our Banking appand security features on our Internet Bank.

How we confirm your payment details

One of the safeguards for sending money is Confirmation of Payee. This requires you to check whether the name and account details you enter match those of the account holder. That way, you can know you're paying who you intend to pay.

When you try to make a payment to a new payee, you’ll be asked to check the details before continuing.

More about Confirmation of Payee

Check a payment with us

We’re on hand to talk to when you’re not sure about a payment you’re about to make from your Nationwide current account.

Our Scam Checker Service means you can talk to us whenever you're not sure about a payment you're about to make from your Nationwide current account. Whether you're making it in branch, on our Banking app, in the Internet Bank or through Open Banking.

Just call us any time or come into your local branch. We'll ask you about the payment, check the details and tell you if we're worried it’s a scam.

More about our Scam Checker Service

Can you get money back from a bank transfer?

Apart from certain international payments, we normally can’t cancel or reverse a bank transfer once it’s left your current account.

So, the quickest and easiest thing to do may be contacting the person you sent the money to.

If you still need help, we can try to get your money back with our credit payment recovery process.

More about cancelling payments

What to do if a bank transfer was not received

There are a few reasons a bank transfer might not yet be received.

Faster Payments do not arrive instantly. Once the payment leaves your account, the money normally arrives within 2 hours.

If you’ve sent a Faster Payment and it hasn’t been received, it may still be in your pending transactions. You can view these by logging in to our Banking app or Internet Bank.

If the payment still hasn’t arrived and you think you might have sent a payment to the wrong account, we may be able to help.

Cheque payments

A cheque is a written document that instructs us to pay a person or an organisation using funds from your current account.

It can be for any amount. But there must be enough money in your account for it to clear and the payment to go through.

More about paying with cheques

Related links

  • Payment and transfer limits
  • How to transfer money between your accounts
  • How to send and receive international payments

As an expert in banking and electronic payments, I can provide comprehensive information on the concepts mentioned in the article:

Sending Money Electronically

1. One-off Payments:

  • Methods: Faster Payments or CHAPS.
  • Information Needed: Sort code, account number, payee's name, and payment reference.

2. Standing Orders:

  • Definition: Regular payments sent to a person or organization.
  • Information Needed: Sort code, account number, payee's name, and payment reference.
  • Frequency: Usually monthly or annually.

3. Direct Debits:

  • Definition: Regular payments set up with a business or organization.
  • Purpose: Often used for bill payments (e.g., broadband, water, energy).

4. Open Banking:

  • Definition: Payments made on your behalf by third parties with your consent.
  • Note: Requires sharing data with specific third parties.

Sending Money in Branch

  • Requirements: Payment details, debit card, valid UK passport or full driving license, and proof of address.

What Details Are Needed to Send Money?

  • For New Payees: Personal or business account, first and last name, 8-digit account number, 6-digit sort code, and payment reference.
  • International Payments: Different details for SEPA or SWIFT.

Paying Someone You've Paid Before

  • Process: Log in to the account, go to payments, select payee, and specify the amount.

  • Payment Reference: Used for future transactions.

  • Manage Payees: View, delete, and manage payees through the Banking app or Internet Bank.

  • Expired Payees: Removed if no payment made in 13 months; details need to be added again.

How Long Does It Take to Transfer Money?

  • Faster Payments: Normally arrives within 2 hours.
  • Scheduling Payments: Can be immediate or set for a future date.
  • Cut-off Time: 10 pm for next-day payments.

Making Large Payments with CHAPS

  • Purpose: Used for amounts exceeding the daily limit for Faster Payments.

  • Fee: £15 for CHAPS payments.

  • Process: In-branch or online with specific requirements.

  • Timescales for CHAPS Payments:

    • Online requests before 3 pm: Same working day.
    • Online requests after 3 pm or in-branch requests: Next working day.

How Much Money Can You Send?

  • Payment Limits: Imposed for security reasons.

Is a Bank Transfer Safe?

  • Security Measures: Fingerprint, card reader codes, and mobile verification.

  • Confirmation of Payee: Verifies payee details before confirming payments.

  • Scam Checker Service: Available for assistance and verification.

Can You Get Money Back from a Bank Transfer?

  • Cancellation: Generally not possible once the transfer is initiated.
  • Exception: International payments.
  • Recovery Process: Through the credit payment recovery process.

What to Do If a Bank Transfer Was Not Received

  • Faster Payments: May take up to 2 hours.
  • Pending Transactions: Check in the Banking app or Internet Bank.
  • Assistance: Contact the bank for help.

Cheque Payments

  • Definition: A written document instructing the bank to pay a specified amount to a person or organization.
  • Requirements: Sufficient funds in the account for clearance.

This information provides a comprehensive overview of electronic payments, ensuring a safe and informed banking experience.

Transfer money with a current account (2024)
Top Articles
Latest Posts
Article information

Author: Greg Kuvalis

Last Updated:

Views: 6400

Rating: 4.4 / 5 (75 voted)

Reviews: 82% of readers found this page helpful

Author information

Name: Greg Kuvalis

Birthday: 1996-12-20

Address: 53157 Trantow Inlet, Townemouth, FL 92564-0267

Phone: +68218650356656

Job: IT Representative

Hobby: Knitting, Amateur radio, Skiing, Running, Mountain biking, Slacklining, Electronics

Introduction: My name is Greg Kuvalis, I am a witty, spotless, beautiful, charming, delightful, thankful, beautiful person who loves writing and wants to share my knowledge and understanding with you.