Question 1

What relationship does Nomo have with Boubyan Bank?

Accepted Answer

Boubyan Bank is our parent bank. Nomo is a business which is part of BLME (Bank of London and the Middle East). BLME is a subsidiary of Boubyan Group.

Question 2

What regulations do BLME and Nomo follow in the UK?

Accepted Answer

BLME is a fully regulated UK bank. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Nomo is a trading name of BLME and operates under BLME’s banking licence.

Funds held in Nomo are covered by the FSCS protection scheme under BLME. BLME and Nomo are also governed by the Financial Ombudsman Service for an impartial complaints resolution service.

BLME appears on the FCA Register under firm reference number 464292. Bank of London and The Middle East plc is a company registered in England & Wales. Its registered company number is 05897786. The registered office address is 20 Churchill Place, Canary Wharf, London E14 5HJ.

Question 3

Does Nomo have branches in the UK or in other regions of the world?

Accepted Answer

Nomo is a fully digital bank, which means no branches, no queues, and no fuss! Everything from account opening to account management to spending is all done digitally, giving you Islamic banking at your fingertips!

All our services can be accessed through your phone, 24/7 and wherever you go.

Question 4

I am a BLME customer, do I automatically get a Nomo account?

Accepted Answer

No, you need to apply for a Nomo account. It’s simple – download the Nomo app from the App Store or Google Play to get started.

Question 5

Is there a Nomo app for iOS and Android?

Accepted Answer

Nomo is currently available on both iOS and Android devices.

Question 6

Can I access my Nomo account on more than one device?

Accepted Answer

No, you can only sign into your Nomo account on one device. Nomo currently only works on smartphones.

Question 7

Who can open an account?

Accepted Answer

Nomo accounts are available to customers aged 16 or over. We don’t currently offer joint accounts. Nomo is currently only available to residents in Kuwait, KSA and the UAE.

Question 8

What countries can I open a Nomo account in?

Accepted Answer

At the moment, Nomo is only available to residents in Kuwait, KSA and the UAE. However, we plan to launch in plenty of countries globally in the future, and we will let you know when we do this.

Question 9

What does the Nomo application process involve?

Accepted Answer

The application process is fast and simple.

Firstly, you need to download the Nomo app. You’ll find the app in the App Store on iOS or on Google Play for Android.

__Step 1 - Setting your preferences__

When you begin your application, we will start by asking you to read and agree to our Terms & Conditions. We’ll then confirm your email address and mobile number.

We will also set up your account security by asking you to create an account passcode. You can also set up Face ID.

To do this, enter your number. We will send you an SMS with a 6-digit verification code. Simply enter this code in the app to verify your mobile number.

We recommend keeping notifications switched on so you can stay up to date with your account activity.

We also recommend keeping marketing communications switched on.

You'll need to create your own unique passcode for accessing your account and you can set up FaceID to make accessing the app even faster and more secure.

Next, you'll tell us how you would like to be addressed and where you're from.

__Step 2 - Verify your identity__

After this, we will ask you to verify your identity using your passport,  Please note:

You must use an original physical passport when prompted to take a picture.

We can’t accept a previously taken picture of your passport or a photo of another image.

The photo should be taken directly from your phone in colour.

We will also ask you to record a short video of yourself moving your head and saying some numbers. Our cutting-edge technology will automatically verify your identity.

__Step 3 - Proof of address__

As part of your application process, we will need to verify your residential address.

For Kuwaiti residents, we will ask you to upload the front and the back of your Civil ID card.

For KSA residents, we will ask you to upload the front and the back of your National ID card.

If you're in the UAE, we will ask you to upload the front and the back of your Emirates ID card.

Please make sure the document you upload is in your name, includes your home address, and is dated within the last 3 months.

__Step 4 - Tax details__

You have to let us know which countries you are a tax resident in. This is usually the country where you live and pay taxes, although you might be considered a tax resident even in jurisdictions where you don't have to pay tax on your income.

We're required to record this to make sure all tax is reported. We will ask you for your unique tax number for every country that you pay tax in. For example, in Kuwait this is the number of your Civil ID card, and in the UK it is your National Insurance number.

__Step 5 - Help us understand your wealth and intended account usage__

We need to learn about your income to check whether you qualify for a Nomo account.

We'll need a rough estimation of your total assets which you can tell us by picking the relevant options. Please be as detailed and comprehensive as possible. This information allows us to tailor your banking experience with Nomo.

For regulatory purposes, we need you to list the countries that you hold assets in as well as where you hold your bank accounts.

To help you get the most from Nomo, we will ask for the reason you're opening your account.

If you're applying from the UAE, there will be some extra questions we need you to answer.

Once we have completed the checks, you will then receive a push notification from us welcoming you to Nomo!

Question 10

What are the documents needed to open an account?

Accepted Answer

The documents needed to open an account are:

•	Your original passport

•	Your Civil ID (for Kuwaiti residents only)

•	Your National ID (for KSA residents only)

•	Your Emirates ID (for UAE residents only)

These documents must be valid, so we cannot accept them if they are expired.

Plus, we need a new photo of your original, physical document.

For your passport, you need to scan the original passport in the app, and the same goes for the Civil ID (for Kuwaiti residents only) or National ID (for KSA residents only). As for UAE residents, your Emirates ID card can either be uploaded as a photo or you can take a direct photo in the app.

When you take the photos, please make sure that there is no glare and all the details are clear, and that you capture the entire photo page.

By following these guidelines, you can avoid problems with scanning your documents, and enjoy a seamless application process!

Question 11

How can I verify my documents?

Accepted Answer

If you are required to submit a certified document in order to complete your Nomo application, you will need to do the following:

- A lawyer, notary, or barrister listed on Foreign & Commonwealth Office at [www.gov.uk](http://www.gov.uk/)
- [List of Lawyers abroad](https://www.gov.uk/government/collections/list-of-lawyers) or on the UK Law Society [Find a Solicitor](https://www.lawsociety.org.uk/en/public/for-public-visitors/using-a-solicitor/find-a-solicitor)
- An accountant who is a member of a recognised professional body such as ACCA, CPA or ICAEW
- A consulate, embassy or high commission employee of the country of issue (acting in their official capacity

Question 12

My ID is not being captured correctly. What can I do?

Accepted Answer

Make sure the document is fully in the frame and that you are not covering any details. The image should not be blurry or affected by glare or shadows. If you need additional support completing the verification process, please contact us so we can help.

[Read our blog about how to correctly scan your documents here.](https://www.nomobank.com/blog/article/how-to-scan-your-passport-and-civil-id-during-your-nomo-application "How to scan your passport and Civil ID ")

Question 13

Why do you need my ID documents and a video of myself?

Accepted Answer

To verify your identity and to protect you from fraud, we require official government identification and a video of yourself so we know it’s you and that your documents belong to you. This data will be held securely and in accordance with our Privacy Notice.

Question 14

I was trying to open an account but the process was not successful. Why is that?

Accepted Answer

Some of the main reasons that your application was not successful could include:

- You do not meet our minimum age criteria. To open a Nomo account you must be at least 16 years old.

- You reside in a country in which we do not operate yet.

- We are not able to verify you as part of our KYC process.

Question 15

Are there any account fees?

Accepted Answer

There's no monthly account fee to pay for your Nomo account. No minimum balance is required.

Find out all you need to know about our fees [here](https://www.nomobank.com/fees "Our fees").

Question 16

What information do you need to know about my finances and tax obligations?

Accepted Answer

We will ask you some basic information about your finances, including a rough estimation of your assets, where you hold these assets, and which countries you have bank accounts in. You’ll also need to tell us where you hold tax residency.

We need information about your finances for regulatory reasons.

Question 17

Is there a minimum income requirement?

Accepted Answer

Customers applying from the UAE via the ADCB | Nomo or Al Hilal | Nomo apps must meet one of the following criteria to be approved:

- Have a monthly income of 15,000 AED per month or more

- Have a minimum net worth of 275,000 AED

- Currently be a student

Please note that we will ask for supporting documents to verify your eligibility. If you do not meet the criteria, your application will be rejected.

There is no minimum income requirement for Kuwaiti customers applying via the Nomo Bank app.

Question 18

How do I add money to my Nomo account?

Accepted Answer

To add money via bank transfer:

1. In the app, select the currency account you want to add money to, or open the currency account if you haven’t already 
2. Tap '+ Add money'  
3. Copy or share the bank details and use these to transfer from other bank accounts

Please note, in order to receive the money in the same currency as it is sent in, you must have the right currency account open in the app. Money sent prior to the relevant currency account being opened could result in delays, or funds being returned.

Question 19

How do I find my account information?

Accepted Answer

In order to receive money, you need to share your bank account details with the sending person or business. You can view your account details for any of your currency accounts you have open – GBP, USD, EUR, KWD, AED, SAR.

For receiving SWIFT payments (for international transfers), the same account details (IBAN and SWIFT/BIC code) are used across all your currency accounts.

To get account details:

1. Log in to your account in the app

2. Select the currency account you want to receive money to, in the Accounts section of the home screen

3. If you cannot see the currency account you want to receive money in, select ‘Add currency’; it is important to make sure that the currency account is opened before receiving money in that currency

4. Tap ‘Add money’ - you will then see the bank details for that currency account

*All non-GBP currency accounts share the same details (IBAN and SWIFT/BIC code), but your GBP account will give you 2 options to receive money depending on where the money is coming from, either Inside of the UK (account number and sort code) or Outside of the UK (IBAN and SWIFT/BIC code)*

5. Use these account details to transfer funds from other bank accounts to your Nomo account

Question 20

What bank details do I need to add money to my Nomo account from a UK account?

Accepted Answer

The bank details required for receiving money depend on what type of bank account the money is coming from. All of these details can be found in the ‘Add money’ section of your individual currency accounts.

If you are transferring from a UK bank account, you will need:

- Your full name
- Your sort code
- Your account number

Please note, these details are different from those needed to receive money from a non-UK bank account.

Please note, the sort code and branch address for your GBP Account are different to your other currency accounts. This is because we have different partners for our GBP and multi-currency accounts.

If you’re receiving money from a UK bank account, please use the following sort code: __04-13-68__

Question 21

What bank details do I need to add money to my Nomo account from a non-UK account?

Accepted Answer

The bank details required for receiving money depend on what type of bank account the money is coming from. All of these details can be found in the ‘Add money’ section of your individual currency accounts.

If you are transferring from a non-UK bank account, you may need a combination of:

- Your full name
- Your sort code
- Your IBAN
- Your SWIFT/BIC
- The branch address of our multi-currency partner, CurrencyCloud

The details you need will be determined by the location of the sending bank, and the type of transfer.

Please note, the sort code and branch address for your GBP Account are different to your other currency accounts. This is because we have different partners for our GBP and multi-currency accounts.

If you’re receiving money from a bank account based outside of the UK and you are asked to provide a sort code, please use the following sort code: __04-14-04__

Question 22

Can I receive money in all my Nomo currency accounts?

Accepted Answer

Yes, however, not all banks support the six currencies available with Nomo. There may be limitations on whether other banks can process transfers in all the supported currencies, meaning that the sender can only transfer funds in GBP or other specified currencies.

Some banks might restrict the use of their local currencies for international payments, such as KWD from Kuwaiti banks or AED from UAE banks. Make sure that you’re aware of any fees or foreign exchange markups that your sending bank may apply to your transaction.

Please remember that you can only receive payments in the currency corresponding to the account. Therefore, it's essential to ensure that the sender uses the correct currency and account details for the transfer.

For instance, if you wish to receive funds in your USD currency account, the sender should initiate the transfer in USD (provided that the sending institution allows them to send in that currency).

Once the funds are in your account, you have the flexibility to convert them into any other available currency account that you've opened.

Question 23

How long does it take to receive money?

Accepted Answer

In general, receiving bank transfers from UK banks (via FasterPayments) is designed to be almost immediate. Typically, within seconds of being initiated, the funds should reach your account (but may take up to 2 hours on rare occasions).

Most international transfers arrive on the same day they are sent (provided they are sent before the cut-off time).

However, they can take anywhere from a few hours to a few business days (usually up to 2 business days, but allow for 5 business days).

The transfer time depends on:

- The sending bank 
- Where the transfer is initiated from

If the sender is initiating a SWIFT payment to your Nomo account, it's recommended to check with the bank or financial institution for more accurate information about their processing times, based on the specific details of the transfer.

Certain factors can lead to extended processing times:

1. Intermediary banks are involved in SWIFT transfers to facilitate the secure and accurate transfer of funds internationally. They play a role in verifying payment details, ensuring compliance with regulations, and routing the transfer through a network of banks. This can potentially cause delays.

2. Cut-off times of sending, intermediary, and receiving banks all may contribute to delays, adding on an additional working day or more.

- Nomo’s payment provider can receive and credit SWIFT funds between the following hours of 06:00 to 18:30 (UK time and UK business days)

3. Weekends (Saturday and Sundays) or public holidays of sending and receiving banks may further extend SWIFT processing periods

4. Compliance and verification of banks (including intermediary banks) are responsible for verifying the accuracy of the payment details, including recipient information, account numbers, and compliance with anti-money laundering (AML) regulations. This due diligence takes time and contributes to longer overall processing times.

Question 24

What should I do if I don't receive my money?

Accepted Answer

Once the bank transfer has been sent, the transfer can take some time to be received. You should wait until the necessary time has passed before taking any further action:

- For bank transfers from UK banks, wait up to 2 hours
- For bank transfers from non-UK banks (international payments), wait up to 5 working days

If the above wait time has passed and you’re still waiting to receive the transfer, the best way to check the status is to ask the person who sent it. If you are the sender and you’re transferring between bank accounts, contact the sending bank. Follow the below steps to check on the status of your transfer:

- Check if the payment has not been returned to the sender
- Ask the sender for a transfer receipt or proof of payment
- Verify with the sender if the bank account details they used are correct; if there was an error and incorrect details were used, the sender should contact their bank to understand the next steps

It's important that the sender reaches out to the sending bank to ask for the payment to be traced, as it is the responsibility of the sending institution to issue any investigation or send a tracer on funds.

If you’d like the Nomo team to help, please send us proof of payment including the following details, via a receipt, bank statement, or screenshot from an online bank:

- SWIFT reference number (payments from non-UK banks)
- Sending bank name
- Date of transfer
- Amount and currency

The sending bank should be able to provide you with detailed information about where the payment is, or an MT103 SWIFT message, which will help us to locate the transfer.

Question 25

What are the different types of transfers I can use to fund my Nomo account?

Accepted Answer

There are a number of methods you can use to receive money to your Nomo account by sharing your bank account details.

Here are a few important things to keep in mind when receiving transfers, how your account number, sort code, and IBAN or SWIFT/BIC code differ from each other, and when it's important to use these details:

## 1. Receiving money from UK banks

- FasterPayments, CHAPS

To receive money from UK banks to your Nomo account, you simply need to provide the sender with your Nomo account number and sort code. With these details, they can initiate a transfer to your Nomo account.

Account Number: This is a unique number that helps to identify your Nomo account.

Sort Code: A six-digit code that assists in routing transfers to the correct bank and branch. The Nomo Bank sort code is 04-13-68

- BACS: Direct Credits (UK)

A Direct Credit is set up by a business or entity wishing to pay money into your account, so there is nothing you need to do for one to be set up. Simply share your bank details (account number and sort code) with the sender.

This type of transfer is often used for regular transactions like salaries, pensions, and bill transfers.

BACS Direct Credit transfers typically take a few business days to be processed, providing a secure and convenient way to receive funds directly into your account.

Please note, FasterPayments, CHAPS and BACS transfers can only be processed in your GBP account.

## 2. Receiving money from non-UK banks

- SWIFT transfers

For transfers from banks based outside of the UK, and specifically those utilising the SWIFT network, you'll typically need to provide the sender with the following details:

__IBAN (International Bank Account Number):__ A standardised format that identifies your Nomo account internationally

__SWIFT/BIC Code (bank code):__ This code ensures the accurate delivery of funds to your Nomo account through the SWIFT network. The Nomo Bank SWIFT/BIC code is TCCLGB3L

__Bank Clearing Code (also known as the ‘sort code’):__ Some banks, when processing international transfers, might request the sort code as an additional validation measure. For international receipts, the BCC or sort code for Nomo Bank is 04-14-04

Nomo uses the IBAN and BIC code provided by our 3rd party provider, CurrencyCloud. It's important to note that these details are needed for international transfers from non-UK banks.

- Local routing cross-border transfers (non-GBP)

Some financial institutes or banks allow bank transfers via ‘local transfer routing’ for international transfers, which is a more cost-effective method, such as:

__SEPA__ (Single Euro Transfers Area) which is used for transfers in Euros

__ACH__ (Automated Clearing House) for transfers in US Dollars and other currencies

Nomo does not currently support receipts for ACH inbound transfers.

Question 26

Why is the sending bank saying that they cannot match the beneficiary name, and that my Nomo account may be fraudulent?

Accepted Answer

If someone is attempting to initiate a bank transfer from a UK bank to your GBP Account, you might encounter a situation where the sender receives a warning about matching your Nomo account details, or the legitimacy of the recipient account.

This is linked to the Confirmation of Payee (CoP) process, which some banks in the UK have already adopted.

CoP is a security measure implemented by banks to ensure alignment between the recipient's account details and the intended beneficiary's information. Any inconsistencies in the beneficiary's name can trigger this error.

It's important to emphasise that your Nomo account is genuine and not fraudulent. However, it's worth noting that we haven't yet become a part of the Confirmation of Payee initiative.

Question 27

What should I do if the sending bank says my Nomo IBAN account details are invalid?

Accepted Answer

If the sending bank does not recognise your Nomo bank details, kindly get in touch with our Customer Services team and inform us of the situation by providing us with as much information as possible, including screenshots of the error and the bank’s name.

Question 28

Why didn’t the full amount from the sender arrive in my account?

Accepted Answer

It's important to note that Nomo does not charge any fees for receiving funds. This ensures that the amount you receive isn't reduced due to any fees imposed by Nomo.

Sending funds via the SWIFT network involves fees when the sending bank and the beneficiary bank do not have a direct relationship, so an intermediary bank is required to process the transfer. This intermediary bank will often take a fee for forwarding this payment.

The fees are determined by the sender:

- If the sender selects an "OUR" fee option, where all transaction charges are paid by the sender, you’ll receive the payment in full and avoid the intermediary charges. This ensures that you receive the entire payment without any deductions.
- If the sender selects a "SHA" (Shared) fee option, the sender is willing to pay their bank's transfer charges. It's important to acknowledge that while the sender's transfer charges are covered, there could still be deductions in the received amount due to intermediary and recipient bank charges.
- If the sender selects a “BEN” (Beneficiary) fee option, you will pay all costs and receive the payment after deductions for fees from the sender and intermediary banks.

Get in touch with the sender or sending bank for clarification about these fee options.

Question 29

Why am I seeing details about Currency Cloud Limited when sending money to my Nomo account?

Accepted Answer

When the sender enters your IBAN or SWIFT/BIC on their banking platform to send money to your account, their bank can use the information encoded in your IBAN and SWIFT/BIC to identify the receiving bank and route the payment to the correct destination.

"The Currency Cloud Limited" is the third-party payment provider Nomo has partnered with for processing and receiving international payments. The sending bank might show Nomo’s bank name and address as:

The Currency Cloud Limited
The Steward Building
12 Steward Street
London, UK
E1 6FQ

This is because of the SWIFT BIC (TCCLGB3L) associated with Currency Cloud Limited. Your international payment will still be deposited to your Nomo currency account.

This address will also be shown in the ‘Add money’ details of your non-GBP currency accounts, and your GBP Account when you are planning to receive money from outside of the UK.

Question 30

Bank transfers to my account are being returned to the sender. What should I do?

Accepted Answer

Bank transfers can be returned to the sender for reasons such as incorrect account details, invalid account status (e.g. closed accounts), fraud suspicion, compliance issues, bank restrictions, technical glitches, network delays, or problems with currency conversion.

If you're facing repeated issues, we suggest that the sender gets in touch with their bank to understand what’s causing the transfer to fail. Please don't hesitate to reach out to our customer support team for help.

We are aware of some instances where international bank transfers to specific currencies from certain banks aren't successful in reaching Nomo accounts. If you encounter this issue, please contact us so we can help guide you. We may request that you try sending in a different currency, such as GBP.

Question 31

Which currency accounts can I open with Nomo?

Accepted Answer

With Nomo, you can currently open an account in six different currencies.

These are:

GBP - Pound Sterling

USD - US Dollar

KWD - Kuwaiti Dinar

AED - United Arab Emirates Dirham

EUR - Euros

SAR - Saudi Riyal

Question 32

Why did my SWIFT Bank Identifier Code (BIC) and IBAN change?

Accepted Answer

The previous codes SWIFT/BIC, BLMEGB2L, BLMEGB2LBB2 or BLMEGB22, are no longer being used for GBP or USD payments. You should update your beneficiary list to use the new SWIFT/BIC (TCCLGB3L) for international transfers with Nomo.

These details have changed because we have switched multi-currency partners as a result of our multi-currency launch.

Question 33

Do I need an International Bank Account Number (IBAN) for each currency account?

Accepted Answer

No. With our multi-currency accounts, you can use the same IBAN across all your currency accounts for receiving international transfers. The sending bank must be able to support sending multiple currencies to the same IBAN. If they do not support multiple currencies, it might be received in your Nomo GBP Account by default.

Question 34

How do I receive funds in my Nomo currency accounts?

Accepted Answer

You can add or receive money by bank transfer. To add money, go to the account you wish to transfer into and select ‘Add money’.  You need to share your account details, either sort code and account number for UK transfers, and for international transfers, you should provide the IBAN and SWIFT/BIC to the sender.

It is important that you make sure you have the currency account opened before receiving money into your account (eg. EUR), to avoid delays or payments being rejected and returned to the sender.

Question 35

How do I close a currency account?

Accepted Answer

This feature is not available at the moment but it costs no extra money to keep the account open.

Question 36

What are the fees for exchanging currencies?

Accepted Answer

There are no hidden fees when exchanging currencies, we apply mid-market exchange rates.

We are transparent in our charges and fees will be displayed to you separately on the quote screen before converting your currency.

Please refer to our Fees page.

Question 37

What are the fees for making and receiving transfers from my currency accounts, and spending in different currencies?

Accepted Answer

It’s free to transfer GBP (£) to another UK account.

For international transfers, we charge a small fee depending on the currency, destination country and payment type. This fee will be quoted to you before making the payment.

Please refer to our Fees page.

Question 38

Will I be shown the exchange rate before I exchange currency?

Accepted Answer

Before every currency exchange you make, we will show you an expected exchange rate. The rate used is the mid-market exchange rate provided by our multi-currency provider. It will be the latest rate after you confirm the transaction, and may change by a small margin. The rate used will be shown in your statements and transaction list.

Question 39

How can I transfer money to banks in other countries?

Accepted Answer

The information you require for the transfer will differ depending on the currency you want to send.

1. Navigate to the currency account you would like to send from

2. Select ‘Pay & transfer’

3. Click ‘International transfers via Nomo’

4. Select the recipient’s country

5. Enter the amount you would like to send, and add a reference if you wish

6. Add the recipient by adding their details, including:

- Account type (personal or business)

- First, middle and last names, as they appear on the recipient’s account

- The recipient’s address

- The recipient’s SWIFT/BIC and IBAN/account numbers

7. Confirm the transfer

Question 40

What is a local routing transfer?

Accepted Answer

A local routing transfer uses local payment routes such as ACH, Faster Payments, and SEPA. It’s our most cost-effective way to move money globally. Local routes make use of transfer channels set up in a domestic market to make the payment process between banks more efficient.

Question 41

What is a SEPA transfer?

Accepted Answer

SEPA stands for Single Euro Payments Area, which is an initiative to make payments and transfers simple and consistent within and between EU member countries.

SEPA counts 36 countries as members: Austria, Belgium, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Republic of Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovenia, Slovakia, Spain and Sweden, along with non-EU members Iceland, Norway, Liechtenstein, Switzerland, Andorra, Vatican City, Monaco, San Marino and the UK.

Most SEPA transfers are settled within one business day of being initiated.

Question 42

What is a SWIFT transfer?

Accepted Answer

SWIFT (Society for Worldwide Interbank Financial Telecommunications) is the leading system for transferring payments securely around the world, in multiple currencies.

This type of payment goes through the international SWIFT network and is much easier to track than local routing transfers.

When a payment goes through SWIFT, there are fees charged by the intermediary banks.

Question 43

What are the fee options you have for SWIFT transfers?

Accepted Answer

There are different options for paying the fees for SWIFT transfers:

Shared (SHA): The fee is shared between you, the sender, and the recipient. You pay Nomo’s transfer fee, and the recipient pays the intermediary bank fees and any fees imposed by their own bank. The fees charged by the intermediary bank are taken out of the payment amount. Because of this, the amount the recipient receives in their bank account may not be the full amount expected.

Ours (OUR): As the sender, you pay all fees for the transfer, including the fees charged by the intermediary and recipient bank. These fees are not taken out of the payment amount. The recipient gets the full amount of the payment, but the person making the payment will have to pay a higher fee to cover the costs of the intermediary bank.

Question 44

Why are there intermediary bank fees for SWIFT transfers?

Accepted Answer

An intermediary bank is a bank that acts on behalf of the sending bank to facilitate international money transfers via the SWIFT network. This type of bank is needed when the sending and beneficiary banks don’t have an established relationship. They’ll often charge their own fee for their services, which will impact the amount your recipient gets.

These chargeable services can include routing and processing, currency conversion, risk mitigation, compliance and regulatory requirements, transaction tracking, communication and settlement.

Once your money has reached the recipient’s bank, there may be an incoming transfer fee for processing the transfer, which covers the activities of the intermediary bank.

Question 45

Can I make purchases using my debit card from different currency accounts?

Accepted Answer

All of the different currency accounts you open can be used with the same physical debit card. When you open a new currency account, it will automatically be added to your Nomo debit card.

You will be able to see which currency accounts you have by navigating to the home screen of your Nomo app.

If you have insufficient funds in the currency account that is being spent with the card (e.g. AED), then we will deduct the amount from the GBP account if there are sufficient funds.

However, if you also have insufficient funds in your GBP account, then the transaction will be declined, even if you have funds in other currency accounts (e.g. in your EUR account).

Question 46

What if I'm trying to transact in a currency Nomo does not support?

Accepted Answer

If you are trying to use your card to make a payment in a currency that we do not support (e.g. AUD), then the amount will be from the GBP account. If there are insufficient funds in GBP, the payment will be declined.

Question 47

Can I have a negative balance? Will I pay charges on a negative balance?

Accepted Answer

If your balance goes overdrawn, you will be required to add money to bring it to zero or above. If you do not do this, you will be in breach of the terms and conditions of the account. There will be no charges on overdrawn accounts. Nomo may deduct the debit balance from any other credit balance.

Question 48

Can I top up my account through card, Apple Pay or Android Pay?

Accepted Answer

No. At the moment, you can only add money by bank transfer.

Question 49

How do I get my bank statement?

Accepted Answer

You can access your bank statement in the Nomo app. Statements are issued within 24 hours of the last day of each month. To access your statements, go to Profile and then select ‘Statements’.

Question 50

What is Open Banking?

Accepted Answer

Open Banking is a system for sharing data between banks, technical providers and third parties. Data is shared securely and benefits the customer by helping them to move and manage their money more easily. Open Banking allows your accounts with different financial providers to ‘speak’ with each other and share data, which can benefit your money management in lots of ways, such as holding information from different accounts in one place and moving money quickly and securely between your bank accounts.

The goal of Open Banking is to give customers more control over how their data is handled by giving them ownership of it. They can share account and transaction data with the banks and third parties of their own choosing.

Question 51

How does Open Banking work?

Accepted Answer

If another bank or registered third party uses Open Banking to access your Nomo data, they will always tell you what data they need, why they need it, and will ask you to give your permission to access it.

Once you’ve given your permission, we’ll share that data with the bank or third party on your behalf. This is all completed within the Nomo app and the app/web platform of the other provider.

When you want to connect your Nomo account with a third-party provider, they will use specific software that can work in the background online or through a mobile app. You will then need to submit your Nomo login details to give the provider access to your Nomo account, so that your data can be shared.

Question 52

Is Open Banking safe?

Accepted Answer

Open Banking is very secure – it’s as secure as your online banking. Any bank or third party that offers an Open Banking service must be regulated by the FCA if they operate in the UK, or their European equivalent if they’re in Europe, as well as complying with data protection laws. The [FCA register](https://register.fca.org.uk/s/) will give you a list of all registered third-party providers.

The APIs themselves provide a very safe method to transfer data, and Open Banking exists within the banks' established and highly secure technology systems. You are the only person who can authorise any link between your bank and a regulated third party because you are the customer and the owner of your data. It means you'll never have to reveal your bank login credentials; simply use them to access your online banking as usual.

You can completely control what data you disclose, with whom, for how long, and for what reason, from within your online banking.

Question 53

What is SCA?

Accepted Answer

When you log in or authorise payments while banking online or making online purchases, Strong Customer Authentication (SCA) works to ensure that it is truly you. Its purpose is to help protect your financial information and make online transactions even safer.

When you make an online payment – for example, when you buy something or pay a bill – we may ask you to confirm that you are the person using the card. 
This is required by UK regulation.

Question 54

How will SCA affect me?

Accepted Answer

SCA is now operational. This means that when you shop online and want to complete a transaction, you may need to use an SCA-compliant method to authorise the transaction.

You will be asked to verify your payment via Mastercard ID Check by either:

- Entering a one-time password (OTP) which you receive via SMS
- Answering a basic question about your purchase history

This step should only take a few extra seconds, but will add an important extra layer of security to your online purchase.

Question 55

How can I close my Nomo account?

Accepted Answer

If you would like to close any of your Nomo accounts, please contact us and we’ll process your request.

Question 56

Can Nomo choose to block / close my account? If so, in what circumstances?

Accepted Answer

If for any reason we need to take action on your account we’ll reach out to let you know of our actions and what the next steps are.

Question 57

What happens to my Nomo account if I move abroad?

Accepted Answer

You will still be able to use your Nomo account if you move abroad. As some exceptions may apply, such as EU countries, please get in touch with the support@nomobank.com team for further information.

Question 58

What documents do I need to share with Nomo if I move abroad?

Accepted Answer

When reaching out to the Nomo Customer Services Team to notify them of your move, you will be required to provide:

- An updated copy of your identity documents (either passport or ID card), if you have renewed these since you have opened your Nomo account

- A proof of address for your new address, such as:

A bank statement dated within the last 3 months showing your full residential address

A utility bill dated within the last 3 months showing your full residential address

A valid National ID card showing your full address

A valid driver’s license showing your full address

Question 59

What is Apple Pay?

Accepted Answer

Apple Pay is a mobile payment method that lets you spend money in-store, online and in apps using your iPhone. This means that you no longer need your credit or debit card with you to make purchases – all you need is your iPhone.

Question 60

How do I set up Apple Pay with Nomo?

Accepted Answer

To set up Apple Pay with Nomo, you first need to add your Nomo card to Apple Wallet on your iPhone.

Here’s how to do this from the Nomo app:
1. Head to the Card tab in the Nomo app
2. Tap on the Apple Pay menu item
3. Select ‘Add to Apple Wallet’
4. Accept the Terms & Conditions
5. Select ‘Use as Default Card’

Alternatively, you can add your Nomo card in the Apple Wallet app:
1. Open the Wallet app on your iPhone
2. Tap the “+” sign in the upper-right corner
3. If your Nomo card is affiliated with your iTunes account, simply enter your card’s security code to add it, or select “Add a different card” to use your iPhone camera to scan the card information

You will then be able to make Apple Pay payments with your Nomo debit card on your iPhone and Apple Watch if it is connected to your iPhone.

You can start spending using Apple Pay straight away.

Question 61

Is Apple Pay secure?

Accepted Answer

Apple Pay is more secure than using a physical credit or debit card because you need to use biometric verification (Face ID or Touch ID) to make a payment via your iPhone. This means that only you can authorise a transaction.

When you use Apple Pay, your card number and identity aren't shared with the merchant, and your actual card numbers aren’t stored either on your device or on Apple servers. When you shop online, the only shared details are those that will allow the merchant to complete the order, such as your name, email address, and billing and shipping addresses.

In addition, Apple doesn’t store transaction information that can be linked back to you.

Question 62

Does it cost extra to use Apple Pay?

Accepted Answer

There are no extra fees to use Apple Pay.

Question 63

Can I use my Apple Watch for payments with Nomo?

Accepted Answer

You can make payments from your Nomo account via Apple Pay using your Apple Watch.

Question 64

How to pay with Apple Pay

Accepted Answer

## Paying in-store

Apple Pay is a fast, safe and easy way to spend your Nomo balance in shops with your iPhone or Apple Watch.

To pay with Face ID, double-click the side button, glance at your screen, then hold your iPhone near the reader.

For Touch ID, hold your iPhone near the reader with your finger on Touch ID.

On Apple Watch, double-click the side button and hold Apple Watch up to the reader.

## Paying online

Paying in apps and on websites using Apple Pay speeds up the checkout process because you no longer have to create an account or fill out lengthy forms every time you make a purchase.

To pay in apps and on websites in Safari on your iPhone or iPad, select Apple Pay at the checkout and complete the payment using Face ID or Touch ID.

To pay on websites in Safari on your Mac, select Apple Pay and complete the payment using your iPhone or Apple Watch. On MacBook Pro, pay using Touch ID on the Touch Bar.

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A quick guide to buying property in the UK

Finding a property

Buying a rental property

What to do when you’ve found a property

Using property finance to buy a property in the UK

Appointing a lawyer

Costs associated with buying property in the UK