What is the link between the Nationwide B/S & Barclays Bank

meatandtwoveg

OK. The Nationwide is not a bank, so it uses Barclays Bank as a clearing bank. When you open a offshore account with the Nationwide B/S, you open your account with Nationwide International. When you send your money to the Nationwide International it uses a Barclays Bank sort code and Account Number, so uses Barclays as a clearing bank also? Maybe, or is the Nationwide an offshoot of Barclays?

MarkyMarkD

MySave accounts are on a different IT platform to other Nationwide accounts. That's why you can't see other Nationwide accounts whilst logging onto MySave and vice versa.

The sort code issue is a red herring - many building societies are not clearers and use a high street bank to clear their payments. Sometimes the sort codes appear as being owned by the clearing bank; sometimes they do not. Either way, the funds are with the building society, not the bank.

meatandtwoveg

MarkyMarkD wrote: »

MySave accounts are on a different IT platform to other Nationwide accounts. That's why you can't see other Nationwide accounts whilst logging onto MySave and vice versa.

The sort code issue is a red herring - many building societies are not clearers and use a high street bank to clear their payments. Sometimes the sort codes appear as being owned by the clearing bank; sometimes they do not. Either way, the funds are with the building society, not the bank.

Cheers, just wondered?:beer:

barak

meatandtwoveg wrote: »

The Nationwide is not a bank, so it uses Barclays Bank as a clearing bank.....

True, but not because it's not a bank. Nationwide is the one Building Society that is also a clearer. The reason it uses Barclays is presumably historical or commercial.

http://www.chequeandcredit.co.uk/membership/-/page/list_of_members/

Chorlie

I thought Nationwide's Clearing Bank was HSBC (there IBAN has MIDL within it).

alanq

It seems not, though MIDL is mentioned here with regard to SWIFT.
http://www.nationwide.co.uk/search/DisplayArticle.aspx?article=1350

Many years ago Nationwide did offer Midland Bank Access credit cards to customers.

rb10

Chorlie wrote: »

I thought Nationwide's Clearing Bank was HSBC (there IBAN has MIDL within it).

I believe that HSBC process their foreign currency receipts, but Nationwide is still a clearing 'bank' for domestic payments.