Nationwide UK: existing customer opening a fixed term account

M

MysticX

Registered User
Messages
200
Hi,
If your an existing Nationwide UK customer (easy access account) and wish to open a fixed term account is it somehow possible to do this with the lodgement coming from the easy access account?

Their generic account opening form only seems to provide for cheques and external ETF, no specific section for doing an internal transfer.

Just seems very inefficent to have to withdraw the desired amount to an external account and then EFt it back to Nationwide UK. On that note they specific for EFT transfer to use the express option... I guess thats not the standard option used with most online banking?
 
Just rang them yesterday about opening their new 1 yr account, I have existing account. Was advised print off application form, fill in, tick box for existing customer so you dont have to send off i.d. again & send to them. Could send a cheque with it if new money or can wait until account details arrive in post and then transfer from the existing account to it. Only one lodgment allowed, will probably do it that way.
 
If you have an easy access account with Nationwide UK you are obviously been paid 3.00%.

Their one year term deposit pays 3.65% and still provides instant access but subject to an interest penalty of 90 days interest.

Hence, if you think you probably won't need the money over the next year, but still want instant access just in case, it is well worth switching to the one year term deposit account product.
 
Hi,
Thanks for the replies.

Yes I am eyeing the one year term deposit.

I'll be contacting them with some queries as I'm very particular regarding details of products that I'm applying for.
If I find out additional info thats useful I'll post it here.
 
Alright I've been told the following:

N.B. This is unconfirmed in that I haven't tried this myself yet.

If your an existing customer you can open the account by ringing them up. You'll need your telebanking password handy in order to supply random characters as part of a security check. So obviously you'll need to be setup with telebanking to do this.

Once it's opened it'll be automatically added to your profile. If your registered with telebanking and / or internet banking you can make your lodgement via one of these services.
 
Alright,
Opened the term deposit over the phone last Friday.
No sign of it on my online profile. Anyone know how long it normally takes to appear on your online banking?
 
Alright it's appeared on my online banking so all is good.

Looks like it takes up to three working days for new accounts to appear online.
 
MysticX was it possible to transfer funds from the easy access account into the fixed term one or did you have to take it out and lodge it via ETF or Cheque?
 
Got mine opened yesterday, posted form Tuesday, got a phone call yesterday evening from them and they have opened the account and transferred the money from my access account with them, I didn't have to wait and do it online myself. She also advised the rate might be only there another day or so as I said I might open another one, (waiting for notice account elsewhere) but said if I wanted to I would not have to send off another form and could just open the account over the phone.
 
coin said:
MysticX was it possible to transfer funds from the easy access account into the fixed term one or did you have to take it out and lodge it via ETF or Cheque?
Click to expand...
I opened it over the telephone (registered for telebanking). The representative confirmed who I was and opened it on the spot for me. She also offered to transfer the funds internally from my easy access account to my new fixed term account which I graciously accepted. All in all took only a matter of minutes to do this.

It appeared on my online profile about 3 working days later (registered for internet banking) and I got a confirmation letter the day after that.
 
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