Welcome to your Nationwide MySave Online Account This guide will tell you everything you need to know about the account and help you make the most of it. If you have any further questions, you can call us on 0845 605 0330 or use our text phone on 0800 028 4400. Lines are open: Monday Thursday, 8am - 8pm Friday, 8am - 6.30pm Saturday, 9am - 5pm Sunday, 10am 4pm Please note calls may be recorded for training purposes. Operating your MySave Online account 1. How can I find out the interest rate on my account? The easiest way to find out the interest rate you are currently receiving on your account is by logging on the MySave Online Savings Site and viewing the Account Information section. Alternatively, to find out your interest rate go to www.nationwide.co.uk/ratecheck You will need to select the first 3 digits of your account number to access the rates applicable to you. 2. Can I access my account at weekends and bank holidays? You can view your account online 24 hours a day, 365 days a year. However, if you make any transactions at the weekend or bank holidays they will not start to be processed until the next working day. Making Deposits & Withdrawals 3. Why do I need a nominated account? You need a nominated account in order to be able to transfer money to and from your MySave Online account. You can nominate any UK account held in your name that will allow Direct Debits. If you operate a joint MySave Online account you will be asked to confirm whether the first and/or second account holders are signatories on the nominated account. For example; if the first account holder is the only signatory on the nominated account, the second holder will not be permitted to transfer money to or from this nominated account. If you decide not to nominate an account when applying, you will be asked to set one up before you are able to move money in and out of your account. Please refer to question 5 for further details. 4. How many nominated accounts can I have? You can nominate one account. We will not accept nominated accounts in the name of third parties, businesses, sole traders, partnerships or limited companies. It must be a bank account in your name/s.
5. How do I set up a new nominated account or change an existing nominated account? In order to set up a new nominated account or change an existing nominated account you must complete and return a Add or change my nominated account - Direct Debit Mandate form to us. This form can be found within the Change details section of the MySave Online Savings site at www.nationwide.co.uk/mysave. It is a PDF which you must print, complete and return to us at: Nationwide Building Society MySave Administration Team PO Box 801 1 Cobalt Park Way Wallsend NE28 5DZ Please allow 10 working days for your Direct Debit mandate to be recognised and set up by your nominated bank or building society and for the initial payment to arrive in your MySave Online account. Any transaction attempted during the 10 working days will be rejected. 6. How do I transfer money in to the MySave Online account? If you hold a Nationwide FlexAccount and you are registered for online banking you can make payments of up to 10,000 per transaction (multiple transactions are allowed) to your MySave Online account via the Nationwide Internet Bank. Simply select make a payment from the payments and transfers page. Please ensure you enter your MySave Online application reference number this was emailed to you following submission of your original application. Provided that your request is made before 6.30pm, your money will normally arrive by the end of the next working day following your request. Interest will be earned from the day the instruction is made. For payments requested after 6.30pm or on a Saturday, Sunday or Bank Holiday the payment will be processed on, and interest will be calculated from, the next working day and the payment will normally arrive within the following 3 working days. If you don t hold a Nationwide FlexAccount you can Ask your current bank or building society to make a payment (or multiple payments) using the following information: Our Account Number: 23456129 Our Sort Code: 20-97-78 Beneficiary Name: Nationwide Payment Reference: Application reference or Full Account Number and Surname Or use your Nominated account Step 1: Set up a nominated account and Direct Debit mandate (if not already set up as part of the application process). In order to be able to transfer money into your MySave Online account you must have set up a nominated account and given us the necessary authority to transfer money from your nominated account to your MySave Online account. Step 2: Check to ensure you have sufficient money in your nominated account. Step 3: Complete the transaction: Choose the Move money in option from the left hand menu bar. You must then enter the appropriate response in each of the following fields:- Select the account from which you wish to transfer money from All applicable accounts will be shown within the drop down Enter the amount you wish to transfer Indicate how often you wish to make this transfer Select the account to which you wish to transfer the money into State the date you wish the transfer to take place Then submit payment by clicking continue. You will then be asked to confirm the details you have entered. Once you have done this your transaction will be processed. When transferring money into your MySave Online via Direct Debit, please allow 3 working days for the money to reach your account for requests made before 1pm. You will start to earn interest from the day the money arrives in your account. It may then take an additional 3 days for the money to become available to withdraw. Until your money becomes available it will be shown under the processed balance. For a definition of processed and available balance go to question 14.
7. How do I transfer money from the MySave Online account? You can only transfer money out to your nominated account from your MySave Online. To do this simply: Click on Move money out Select the account that you are wishing to close/transfer the balance out of Enter the amount you wish to transfer Ensure that Once is selected in the box which asks how often you wish the transfer to take place, unless you wish to make multiple outgoing payments Select your nominated account Click on the Submit button. See question 10 for more information on how long this transaction may take. 8. How do I set up regular transfers? This is completed in the same way as making one off payments, simply tell us how often you want to make the payment. See question 6. 9. How long will it take for money to reach my MySave Online account? Transfers In When transferring money from your nominated account to your MySave account via Direct Debit, please select the date you want the payment to be made. Although you will start to earn interest on money transferred into your MySave Online account from the day we receive the funds (providing your request is made before 6.30pm) it may take up to an additional 3 working days to become available for withdrawal. Payments made from your nominated account will normally arrive in your MySave Online account on the next working day following your request (subject to cut off times on your nominated account). 10. How long will it take to transfer money out of my MySave account? Transfers Out When transferring money out of your MySave Online account to your chosen nominated account the money will normally arrive on the next working day following your request. Requests to transfer money out of your account received before 1pm on a working day will start to be processed the same day. Requests received after 1pm will start to be processed the next working day. For emergency withdrawals If you need to access your money more quickly, same day transfers to your nominated account are available. You can request a transfer via CHAPs, where a fee will be payable. For details of the current fee and to request a same day transfer please call 0845 605 0330. 11. How do I close my savings account? In order to close your MySave Online account you must log into your account and complete a transaction to transfer the amount equal to the available balance in your account, to your nominated bank account. Click on Move money out Select the account that you are wishing to close/transfer the balance out of Enter the total available balance you have in your account in the amount you wish to transfer box Ensure that Once is selected in the box which asks how often you wish the transfer to take place Select your nominated account Click on the Submit button You will then be prompted with a page that warns you that your transaction is taking you below the minimum balance limit and asks you if you wish to close the account Leave the box ticked in order to close your account Click on Continue. Closing interest is calculated and will be transferred with your money to your nominated account.
12. Why has my money in transfer been rejected when I have set up a direct debit? The main reasons for this could be: Your chosen bank or building society will not accept a Direct Debit mandate You have not allowed 10 working days for your Direct Debit mandate to be recognised and set up by your nominated bank or building society. As a result, you are advised to check with your nominated bank/building society to see if your Direct Debit mandate is still valid. Should you need to complete a new Direct Debit request; the form can be found within the Change details section of the MySave Online Savings site at www.nationwide.co.uk/mysave. Account Balance & Statements 13. How do I check my account balance? Your current available balance is always visible on the summary page of the MySave Online Savings site at www.nationwide.co.uk/mysave, it can be found at the top of the screen. In addition whenever you transact on your account you will be presented with a mini-statement showing your last five transactions. 14. What is the difference between processed and available balance? The available balance is the actual value of money available to the account holder(s) for transfer purposes, subject to your account terms and conditions. The available balance will always be displayed on your status bar at the top of the screen. The processed balance is the total balance of the account and includes transactions which may not have been cleared. This is the balance upon which interest is earned on the account. 15. What if my account balance falls below the minimum balance? If your account balance falls below the minimum operating balance of 1 you will be asked if you wish to close the account. 16. How do I view statements? Whenever you log on to your account you will automatically be presented with an account summary. Click on Continue to use your account. Select Date Range from the Statement Type option and then select your chosen dates. To produce your customised statement click Continue. 17. What information is displayed on my statements? Your MySave Online statements will show the following information for each transaction: date of transaction status of transaction i.e. cleared/pending details of transaction debit/credit indicator amount of transaction updated balance on account. 18. How do I download my custom statement? Our online account been designed for use with your personal financial management software. You can download your custom statement and import it into spreadsheet packages such as Microsoft Excel (not supplied) which support the Comma Separated Value (csv) format. Please be aware that downloading your personal information will transfer your financial information from our computer onto your computer and therefore you should take appropriate steps in order to secure the information and prevent other users from accessing the file.
19. What do the various status descriptions mean on my list of pending transactions? Processed - The transfer has been completed and once cleared will form part of your Balance available for withdrawal. Subject to account terms & conditions, you can withdraw from your Balance available for withdrawal Processing - The transfer is currently being processed, but is not complete. Once the transfer has cleared and is available for withdrawal it will be shown in the Balance available for withdrawal. Subject to account terms & conditions, you can withdraw from your Balance available for withdrawal Pending - Your instruction has been submitted and received by us and will be carried out on the given date. 20. How is interest calculated? We project interest from the first day that funds are paid into your account until the eve of the anniversary of this date. The amount of projected interest is adjusted as changes are made to your account or rates vary. The basic formula for calculating gross interest is: Amount paid in or withdrawn x gross interest rate (%) x no days left in the year 365 Please note that cheque payments to the account will only start to earn interest on the 2nd working day following deposit. In a leap year, we will pay you an extra day s interest at the appropriate rate. 21. Which rate do you use to calculate interest? For MySave Online, interest is calculated daily based on the balance in the account on that day. Account Month means the period from the day we receive your first payment to the end of the day before in the following month. For example, if we receive your first payment on the 15th of January, the Account Month will run from the start of the 15th day of each month to the end of the 14th day of each month. The Account Month period will be used to apply the appropriate interest rate during the Account Month. 22. What happens if I withdraw / add money and move to a new tier of interest? Some issues of MySave Online have a tiered rate of interest depending on balance in the account. The following information relates to issues of MySave Online with tiered interest rates. If you add / withdraw money and move into a new interest rate tier, you will receive the new interest rate. Interest is calculated daily based on the balance in the account. Don t forget you can check your interest rates at www.nationwide.co.uk/mysave To check if your MySave Online account receives tiered interest, please check www.nationwide.co.uk/savings/all_accounts/ all_accounts.htm and use the first three digits of your account number to view your interest rate. Change of Details 23. What should I do if I want to change my address or other details? If you change your address or wish to change any of your personal details you must complete a change of address details or change my name form, these can be accessed from the Change details section of the MySave Online Savings site at www.nationwide.co.uk/mysave. Once completed, the forms should be signed by all account holders and returned to us at: Nationwide Building Society MySave Administration Team PO Box 801 1 Cobalt Park Way Wallsend NE28 5DZ Once we have received your instructions your details will be updated. You will receive confirmation of any change to your MySave Online account in writing once the change has been processed.
24. What should I do if I want to add additional holders to my account? In order to set up an additional holder on your account you must complete and return an Addition of an account holder form which can be accessed within the Change details section of the MySave Online Savings site at www.nationwide.co.uk/mysave. Please complete this form and return it to us together with suitable proofs of identity and residency for the holder you wish to add to us at: Nationwide Building Society MySave Administration Team PO Box 801 1 Cobalt Park Way Wallsend NE28 5DZ Operating your Savings account by phone if the online facility is not available 25. Why would I want to make transactions by phone? On occasion it may be necessary for you to contact us by phone in order to make a money transfer or to obtain account balance information. For example if you are having problems with your PC or your Internet Service Provider s server is down. Whenever you contact us by phone you will be required to go through a set validation process to prove your identity. This will be achieved by asking you personal details, such as your name, address, postcode, date of birth and account number. You will then be required to answer random account questions to complete the validation process before any transactions can be completed. 26. Will I be charged for making transaction by phone? Unlike some other accounts you will not be charged when you operate your account by phone, unless you request a transfer to be made by emergency CHAPs, in which case a fee will be payable. For details of the current fee, please call 0845 605 0330. Standard call changes will apply. 27. What telephone number should I use? If you need to operate your account by phone you should call us on 0845 605 0330. 28. What type of transactions can I make over the phone? You can use the telephone in order to clarify your account balance. In addition you can use the telephone to make one-off transfers in and out of your MySave Online account. Online Security & Technical Assistance The Nationwide website has lots of information to help you protect your personal information and provide technical assistance for our accounts please go to www.nationwide.co.uk/security to find out more. P1894 (October 2012)