Nationwide Building Society Account CHAPS
#1
Nationwide Building Society Account CHAPS
Good Evening,
Is it fine to have an account or a number of e-based accounts with the Nationwide Building Society when you DO NOT have a UK address?
Also, has anyone managed to perform or carry out a CHAPS money transfer from a Nationwide Flex account to a Forex account in their own name while living in Australia? I know you can do a maximum £10k BACS money transfer online while living in Australia, but CHAPS is a very different animal when working with larger amounts.
Thankyou Suggs
Is it fine to have an account or a number of e-based accounts with the Nationwide Building Society when you DO NOT have a UK address?
Also, has anyone managed to perform or carry out a CHAPS money transfer from a Nationwide Flex account to a Forex account in their own name while living in Australia? I know you can do a maximum £10k BACS money transfer online while living in Australia, but CHAPS is a very different animal when working with larger amounts.
Thankyou Suggs
#2
Re: Nationwide Building Society Account CHAPS
Good Evening,
Is it fine to have an account or a number of e-based accounts with the Nationwide Building Society when you DO NOT have a UK address?
Also, has anyone managed to perform or carry out a CHAPS money transfer from a Nationwide Flex account to a Forex account in their own name while living in Australia? I know you can do a maximum £10k BACS money transfer online while living in Australia, but CHAPS is a very different animal when working with larger amounts.
Thankyou Suggs
Is it fine to have an account or a number of e-based accounts with the Nationwide Building Society when you DO NOT have a UK address?
Also, has anyone managed to perform or carry out a CHAPS money transfer from a Nationwide Flex account to a Forex account in their own name while living in Australia? I know you can do a maximum £10k BACS money transfer online while living in Australia, but CHAPS is a very different animal when working with larger amounts.
Thankyou Suggs
Very recently, my mother had a large some of money transferred from her Nationwide B/S Flex account to her commonwealth account using forex. A bit of paperwork involved but it all came through.
Barney
#3
Re: Nationwide Building Society Account CHAPS
We opened our Nationwide account before we left the UK. My OH's pension gets paid in there. The only address they have for us is an Australian one. Our new cards have just been sent over here so not a problem as far as not having a UK address.
#4
Re: Nationwide Building Society Account CHAPS
CHAPS is an instant same day transfer for large amounts, costs around £30. The problem is for me is that if you are in Australia, the Nationwide will not initiate a CHAPS online, or over the phone, you have to physically present a document or printed form to the Building Society to get them to carry out the CHAPS transfer, easy if you are in the UK, a little harder if you are in Australia.
My concern is, if you book a Forex transaction on the Monday, then you have to CHAPS your money to your Forex account asap, could get complicated when you are in Australia?
Suggs
#5
Re: Nationwide Building Society Account CHAPS
From memory, CHAPS are Clearing House Automated Payments so you would not use these for international transfers, only between UK banks that are part of the CHAPTS service. Traditionally, CHAPS payments are used by banks and solicitors for high value urgent transfers although the remit has extended. You would just do international transfers and I'm sure Nationwide could help with those.
#6
Re: Nationwide Building Society Account CHAPS
From memory, CHAPS are Clearing House Automated Payments so you would not use these for international transfers, only between UK banks that are part of the CHAPTS service. Traditionally, CHAPS payments are used by banks and solicitors for high value urgent transfers although the remit has extended. You would just do international transfers and I'm sure Nationwide could help with those.
Sorry,
I think you have the wrong end of the stick? I want to CHAPS from my Nationwide Flex current account to my Forex account while living in Australia.
Suggs
#7
Just Joined
Joined: Oct 2008
Posts: 13
Re: Nationwide Building Society Account CHAPS
I'm not sure if you can still do it but they used to let you set up something called a bill payment, which is where the details are held on your flexaccount and you can either go online or use a Nationwide cashpoint to send the money, its a little like a direct debit only you get to control the amounts and how often. I'm not sure if there is a limit on how much money you can send this way per transaction but if you are regularly transferring money it may help you to look into it.
They also used to have something which was called SWIFT payments, which was the international version of the CHAPS transfer.
They also used to have something which was called SWIFT payments, which was the international version of the CHAPS transfer.
#8
Re: Nationwide Building Society Account CHAPS
I'm not sure if you can still do it but they used to let you set up something called a bill payment, which is where the details are held on your flexaccount and you can either go online or use a Nationwide cashpoint to send the money, its a little like a direct debit only you get to control the amounts and how often. I'm not sure if there is a limit on how much money you can send this way per transaction but if you are regularly transferring money it may help you to look into it.
They also used to have something which was called SWIFT payments, which was the international version of the CHAPS transfer.
They also used to have something which was called SWIFT payments, which was the international version of the CHAPS transfer.
Thanks, but there is a £10k transaction limit online. If you have over say 10 times £10k to transfer, then it gets a bit messy making that number of transactions all in one day.
Suggs
#9
Re: Nationwide Building Society Account CHAPS
That's what we did. Took about half an hour to set them all up but worked fine. If you'd started to do it when you started this thread it would be done by now
#10
Re: Nationwide Building Society Account CHAPS
Suggs
#11
BE Forum Addict
Joined: Mar 2009
Posts: 1,289
Re: Nationwide Building Society Account CHAPS
The total transfer limit with Nationwide for one day with internet banking is £3 million.
#14
Banned
Joined: Aug 2007
Posts: 375
Re: Nationwide Building Society Account CHAPS
I don't understand why it's a problem for you to make 10 x £10k transfers or why you think this is messy??? If you get confused, you can see straight away how many transfers you've made and how many you've still got to do. It's really not difficult.
The total transfer limit with Nationwide for one day with internet banking is £3 million.
The total transfer limit with Nationwide for one day with internet banking is £3 million.
That is good news for me, i have a similar problem, so if you had say for example, and its only an example, £800k in your Flex account, i know, would be nice. You wanted to change it to the Ozzy Dollar. So you could go online, into your internet banking Nationwide Account, and sit there for a few hours doing 80 yes EIGHTY £10k transfers. All this while sitting at your computer in Australia, sending the money to your nominated bill payment Forex account?
Seems a better option than posting a CHAPS form to the Nationwide, an even better option than getting on a plane flying half way round the world, to CHAPS over a few hundred grand? And this way its free, so seems to be the best option?
The safety of the Nationwide, allows you to keep the account open while not having a UK address, and you can send up to 3 million in one day by £10k online transfers to another account in the UK? Ummm. seems to be the way hey?
#15
Banned
Joined: Aug 2007
Posts: 375
Re: Nationwide Building Society Account CHAPS
http://www.nationwide.co.uk/internet...AQs.htm#Link04
Step Two - Making the bill payment
Locate the arrangement you wish to make a payment to from the drop-down list in the 'Pay Bill/Transfer Money' tab.
Enter the amount you wish to pay and the date you wish the payment to be made.
Click on 'Next'. Your details will be displayed for you to confirm.
Please allow up to three working days for the payment to reach its destination after the payment has left your FlexAccount.
You can pay up to 99 different organisations regularly, for example; gas and electricity bills, credit cards, store cards and other financial organisations. Please note, the maximum bill payment that can be made is £10,000. If you wish to pay larger amounts, simply repeat as necessary.
You can make as many immediate bill payment requests as you wish for each payee. When you make an immediate payment, this will show on your Mini Statement online as soon as you have sent the request.
You can only set up one future dated bill payment per payee at a time. If you set up a future dated payment and an immediate payment to the same payee, on the same day, then both payments will debit your account (assuming that there are sufficient cleared funds).
If you set up more than one future dated payment or additional immediate payments to the same payee when a future dated bill payment is pending, only your last request will be processed. If you attempt to amend the amount or make a further request on the day the existing future dated payment is due to be processed, both payments will be made.
Step Two - Making the bill payment
Locate the arrangement you wish to make a payment to from the drop-down list in the 'Pay Bill/Transfer Money' tab.
Enter the amount you wish to pay and the date you wish the payment to be made.
Click on 'Next'. Your details will be displayed for you to confirm.
Please allow up to three working days for the payment to reach its destination after the payment has left your FlexAccount.
You can pay up to 99 different organisations regularly, for example; gas and electricity bills, credit cards, store cards and other financial organisations. Please note, the maximum bill payment that can be made is £10,000. If you wish to pay larger amounts, simply repeat as necessary.
You can make as many immediate bill payment requests as you wish for each payee. When you make an immediate payment, this will show on your Mini Statement online as soon as you have sent the request.
You can only set up one future dated bill payment per payee at a time. If you set up a future dated payment and an immediate payment to the same payee, on the same day, then both payments will debit your account (assuming that there are sufficient cleared funds).
If you set up more than one future dated payment or additional immediate payments to the same payee when a future dated bill payment is pending, only your last request will be processed. If you attempt to amend the amount or make a further request on the day the existing future dated payment is due to be processed, both payments will be made.