FlexAccount - A current account with NO monthly fee and more...

Here's what you get with FlexAccount

Free UK & Europe multi-trip travel insurance

Get free multi-trip travel cover when you pay in at least £750 each month to your FlexAccount.*
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3 month interest-free overdraft

No overdraft interest for first 3 months on arranged overdrafts (overdrafts are only open to those aged 18 or over and are subject to approval)1

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A free Mobile Banking app

Our free mobile app lets you monitor, manage and access your money on the move.

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Award winning provider

We have been recognised as the “Best Online Banking Provider” and “Best Overall Online Provider” in the Your Money Direct Awards 2013

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Great customer service

To make sure we offer our members the service they want, each month we ask 10,000 of you to tell us how we’re doing. 

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Exclusive discounts

Our current account customers have access to a range of products, discounts and services – reserved exclusively for them.

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A voice in your society

We hold regular TalkBack events right around the UK and online to actively encourage our members to have their say in what they want from their Society.

UK only call centres 

Our members told us that they preferred UK only call centres for their higher levels of service. So that's what we offer. 

*FlexAccount travel insurance is provided for Nationwide by U K Insurance Limited.

A Nationwide FlexAccount also gives you...

  • A Visa debit card and optional cheque book
  • Access to over 750 UK wide branches
  • Free text alerts to help you manage your account
  • Telephone Banking -  securely check your balance, transfer money and pay bills
  • Withdrawal of up to £500 cash per day from our ATM network

1 To be eligible for the 3 month interest-free overdraft on our FlexAccount, all we ask is that you switch to us using the 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. 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.

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.

Fees for arranged overdrafts Fees for unarranged overdrafts
18.9% EAR (variable) 1 18.9% EAR (variable) + an unarranged overdraft usage fee of £20 per month 1
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
First time fee refund
We can all slip up sometimes and lose track of our outgoings. So the first time you let us know you’ve made a mistake, we’ll refund any overdraft fees you’ve incurred.

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).

Important information

You need to be 16 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. For more information on the Lending Code please visit http://www.lendingstandardsboard.org.uk/.

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.

FSCS logo

Financial Services Compensation Scheme

Protecting your money

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