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11 March 2013
On 11 March 2013, Nationwide is launching FlexPlus, a current account that includes a market-leading package of benefits for a monthly fee of £10.
The account pays credit interest of 3% AER on credit balances up to £2,500. Customers who are eligible for an overdraft will benefit from a fee-free arranged overdraft for the first three months after account opening and then a £100 fee-free limit will apply thereafter.
FlexPlus has been independently rated five star by Defaqto. The package of benefits available with the account, offer a high level of cover as standard, including:
FlexPlus customers have access to the Society's 'Flexclusives' including savings, mortgage, personal loan, credit card and car insurance deals and Simply Rewards, a reward scheme offering discounts on top brands.
The package of benefits has been designed to have wide appeal with simple customer processes and no pre-registration required. The Worldwide travel insurance, mobile phone insurance and breakdown cover have each been rated as five-star by independent financial research company Defaqto.
Phil Smith, Nationwide's Head of Current Accounts, said: "FlexPlus has been designed to an all round good value package current account to the market, that combines market leading levels of cover, with competitive account features.
"The insurances have been specifically designed to offer best in market protection offering a high level of cover as standard, rather than requiring customers to upgrade at an additional cost.
"Unlike many other accounts on the market that pay little or no credit interest, FlexPlus offers a competitive 3.0% AER on credit balances up to £2,500.
"Nationwide now has a suite of current accounts to meet different customer needs, allowing the Society to be a true challenger to the big banks."
Full information can be found at http://www.nationwide.co.uk/current_account/default.htm
If you use an arranged overdraft of £1,200 the amount we will charge you is 50p per day (variable).
Worldwide travel insurance - provided by UK Insurance ltd
Mobile Phone Insurance - arranged for Nationwide by LSG & provided by LGI
Breakdown cover - provided by Britannia Rescue and underwritten by Liverpool Victoria Insurance company ltd
Extended Warranty Cover - arrange by LSG & provided by LGI
ID Theft Assistance - provided by LSG
Worldwide card emergency assistance - provided by LSG
Exclusive deals available to reward FlexPlus customers, including:
Access to Simply Rewards - A reward scheme exclusively for Nationwide debit card and credit card customers, offering discounts on top brands. Further details can be found at http://www.nationwide.co.uk/current_account/latest_deals/simply-rewards.htm
To see how FlexPlus compares to other packaged current accounts on the market, view the comparison pdf.
Nationwide is the world's largest building society as well as the second largest savings provider and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million members.
Customers can manage their finances in a branch, on the telephone, internet and post. The Society has around 16,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.