Can I move my salary to my Nomo Bank account?
Please ask your employer if they can support this. Nomo can accept payments through Faster Payments or CHAPS into GBP (£) accounts and SWIFT into USD ($) accounts.
Can I use my card / account to make online payments?
Yes. You can make online payments with your card. You can use the details from your physical card, or these can also be found in the Card tab.
How do you ensure that online purchases are made by the account owner and not someone who has my bank details?
Your online purchases will go through Mastercard SecureCode. For some transactions we may send a one-time password to your registered mobile number which you will need to enter to complete the transaction.
I have money in my BLME account. Can I use it directly in my Nomo Bank account?
Not at the moment. Nomo is part of BLME, but they operate under different banking systems. However, you can make a transfer instantly from your BLME account into your Nomo account.
Why do the BIC code and IBAN for my account start with ‘BLME’?
The BIC code and IBAN contain ‘BLME’ because Nomo is a trading name of BLME and operates on the BLME banking license. Please note that the BIC for your USD ($) account (BLMEGB2LBB22) is different from the BIC for your GBP account (BLMEGB22).
Can I top up my account through card, Apple Pay or Android Pay?
No. At the moment, you can only add money by bank transfer.
How do I get my bank statement?
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’.
Can I have a negative balance? Will I pay charges on a negative balance?
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.
Can I set different daily spending limits for my account and card?
No, this is not currently available.
Can I set up a Direct Debit or Standing Order?
No, not at the moment, but we’re looking into Direct Debit and standing order capability for the future.
In which country do I declare my returns from investments?
We recommend you seek qualified tax advice in relation to the tax treatment in both your home country and country of residence.
What is Open Banking?
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.
How does Open Banking work?
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.
Is Open Banking safe?
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 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.
What is SCA?
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.
How will SCA affect me?
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:
This step should only take a few extra seconds, but will add an important extra layer of security to your online purchase.