Everything you need to know about Nationwide international bank accounts

Nationwide®¹ is a UK based building society which offers retail banking services to UK customers. Nationwide used to also have an international division: Nationwide International, which offered offshore account services to overseas customers.

However, Nationwide International was closed in 2017. So, what are the international options available from Nationwide (UK) now? This guide covers what you need to know.

Nationwide vs Nationwide International: what’s the difference?

Nationwide Building Society was the parent company of Nationwide International, which was an offshore banking branch based on the Isle of Man. Nationwide offered services to UK based customers, while Nationwide International has offshore services which could be accessed by customers overseas.

Nationwide International was closed down some time ago, which means that Nationwide in the UK no longer offers offshore banking services. However, UK based Nationwide customers can still open and manage GBP accounts, send international payments, and spend and withdraw overseas with a debit or credit card.

Does Nationwide (UK) offer an international bank account?

Nationwide International is no more, but what about Nationwide? Does the UK based Nationwide offer international accounts?

At the time of writing, Nationwide in the UK does not market any foreign currency account products for personal customers. You can open a GBP account for day to day use or for savings, but this will be for holding GBP only.

Nationwide customers may still be able to access some international features, such as sending SWIFT payments or spending abroad with a debit card, but if you want to hold foreign currencies you need an alternative. We’ll look at one good pick - Wise - a little later.

What about the Nationwide Euro Bonus Access Account?

If you’re wondering about the Euro Bonus Access Account in particular, unfortunately this product is no longer available for Nationwide customers. While Nationwide International used to offer USD and EUR account products alongside GBP services, this account was discontinued when the International division closed.

Nationwide account eligibility

To sign up for a Nationwide UK account you’ll need to meet certain eligibility criteria. While these may vary depending on the exact account, you’ll normally have to be 18 or older, and a UK resident. You’ll be asked to provide proof of ID and address when you sign up for your account.

Nationwide customers leaving the UK

But what if you opened a Nationwide account when you were in the UK and are now planning on moving? You may be able to retain your Nationwide account, depending on the scenario.

If you’re leaving the UK but moving to another country in the EU or EEA you can also get additional support to move your account. Contact Nationwide directly if this is your situation to understand how they can help.

Nationwide accounts: international features and services

If you have a Nationwide (UK) account, you can still access some international features, even though you can not hold a foreign currency account balance.

Fees apply for these services. International transfers via SWIFT cost 20 GBP, with a 2.2% currency exchange fee. Spending overseas with a card will usually incur a fee of 2.99%, known as a foreign transaction fee⁴.

How do SWIFT and SEPA payments work with Nationwide?

You can send either a SWIFT or a SEPA payment from a Nationwide current account. You can not send overseas payments from a savings account.

SEPA payments can be sent in euros to countries in the SEPA area, including many European countries. SWIFT payments can be made in many currencies, and can be sent to most countries around the world. You can send SEPA and SWIFT payments with Nationwide online or in a branch.

Nationwide international account alternatives

Nationwide International is no more, but there are some great alternatives if you want to hold, exchange, send, spend and receive foreign currencies. Check out Wise.

Multi-currency made easy: get a Wise Account

Looking for an alternative to banking to keep your money without a minimum balance? Wise has you covered.

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Nationwide international account: conclusion

If you were hoping to open an offshore account with Nationwide International, unfortunately you’re out of luck. Nationwide International closed operations several years ago, and the UK based Nationwide Building Society does not offer international accounts to hold and exchange foreign currencies. However, other providers, including non-bank services like Wise can help.

Check out Wise for multi-currency accounts that can hold and exchange 40+ currencies, receive payments with local and SWIFT account details, and offer debit cards for spending and withdrawals.

Sources:

1. Nationwide
2. Nationwide - living and working outside of the UK
3. Nationwide international payments
4. Nationwide card fees
Sources checked on 10.15.2024