Features & benefits

Free UK & European travel insurance

Rates, fees & overdrafts

FlexAccount interest rates, fees and overdraft details

Main rates & fees when you are in credit

Main rates & fees when you are in credit
Interest we pay you Monthly fee
0% £0

Overdrafts

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.

Overdraft fees
Fees for arranged overdrafts Fees for unarranged overdrafts
18.9% EAR (variable) 1 18.9% EAR (variable)
We'll also give you a 3 month interest-free overdraft
For the first 3 months of an arranged overdraft, we won't charge you interest if you use it. Conditions apply 2

FlexAccount Overdraft Representative Example:

If you use an arranged overdraft of £1,200 the interest rate we will charge you is 18.9% EAR (variable).

For more information see our examples of current account charges
To understand more about how overdrafts work see our Understanding Overdrafts Leaflet

Other charges and fees

We've shown you the main rates and fees 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 current account support section.

To see what charges we make for payments in other currencies and using your card abroad, see our using your cards abroad section.

Important information

You need to be 18 or over to apply for a FlexAccount.

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

Nationwide subscribes to the Lending Code (This link will open in a new window) (This link will open in a new window). For more information on the Lending Code please visit http://www.lendingstandardsboard.org.uk/ (This link will open in a new window) (This link will open in a new window).

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Managing your account

How to apply