Overdrafts are only open to those aged 18 or over and are subject to approval. When you apply for an account, we'll tell you if we can offer you an arranged overdraft. You will have 28 days' notice before we take any overdraft fees from your account.
18.9% EAR (variable)1
Conditions apply – see footnote 2
+ an unarranged overdraft usage fee of £20 per month
For more information see our examples of current account charges
To understand more about how overdrafts work see our Understanding Overdrafts Leaflet
If you use an arranged overdraft of £1,200 the interest rate we will charge you is 18.9% EAR (variable).
If you'd like to know more about your overdraft and how it works, please see our understanding overdrafts leaflet.
We've shown you the main rates and charges that most people want to know above. For the full list of all our current interest rates and other fees and charges please download our latest interest rates and charges leaflet. For past rates and charges, see our documents and downloads page.
To see what charges we make for payments in other currencies and using your card abroad, see our using your cards abroad section.
All rates and charges are subject to change and we may decide when to apply and waive any account charges.
What is EAR? EAR stands for ‘Equivalent Annual Rate' which allows you to compare the rates offered by different providers. It's the cost of an overdraft stated as a yearly rate, taking into account the compounding rate of interest. We work out interest each day on any overdrawn amount and take it from your account monthly, giving you 28 days' notice of the amount. Any interest charged is added to the balance outstanding.
1 If we make a change to these charges we'll notify you 7 days in advance if the change is to your disadvantage. If the change is to your advantage we may make it immediately.
2 To be eligible for the 3 month interest-free overdraft on our FlexAccount, all we ask is that you use our Current Account Switch Team to switch your existing Direct Debits and standing orders when you open your new account. When you apply we’ll ask you for the details of the bank account you want to switch. Don’t worry, switching to us is easy, and we can manage it for you. More on switching
It only takes about 10 minutes to apply online
Nationwide subscribes to the Lending Code. For more information on the Lending Code please visit http://www.lendingstandardsboard.org.uk/. You need to be 16 or over to apply for a FlexAccount.
FSCS - Protecting your money. Find out more
Your eligible deposits with Nationwide Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. This limit is applied to the total of any deposits you have with the following: Nationwide Building Society, Cheshire Building Society, Derbyshire Building Society, Dunfermline Building Society and Nationwide UK (Ireland). Any total deposits you hold above the £85,000 limit between these brands are not covered.
Please click here for further information or visit www.fscs.org.uk