Our current accounts

Compare our accounts

Looking for a great current account?

Our accounts come with access to different features and benefits, so you can compare current accounts and pick the one that's right for you.

Product comparison table
 

FlexAccount

Access to free UK & European travel insurance and a full range of ways to
bank.

FlexDirect

Access to in-credit interest if you're happy to bank online or by
telephone.

FlexPlus

Our premium current account gives you access to in-credit interest and some
great benefits for just £10 a month.

In-credit interestNo0% AER

5% AER (4.89% gross p.a.) fixed in-credit interest on balances up to £2,500. This rate is fixed for the first 12 months, subject to if you pay in £1,000 each month (excluding internal transfers)1

(see all rates and fees)
3% AER (2.96% gross p.a.) variable interest on balances up to £2,500
(see all rates and fees)
Overdrafts available2Yes3 months interest-free3
More information
Yes

12 months fee-free
More information

Yes

3 month fee-free, £100 fee-free limit after that
More information

Monthly feeFreeFree£10 a month
Bank in branchYesNoAccess to a branch in an emergency onlyYes
Bank onlineYesYesYes
Bank on the phoneYesYesAutomated telephone banking onlyYes
Mobile banking appYesYesYes
Commission free cash withdrawals abroadNoNoYes
Minimum age161818
Flexclusive products, offers &  benefitsYes(conditions apply)Yes(conditions apply)Yes(conditions apply)
Travel insurance 4YesFREE UK & European multi-trip insurance
(conditions apply)
NoYesWorldwide family multi-trip insurance
(conditions apply)
Free text alertsYesYesYes
Worldwide family mobile phone insurance 4NoNoYes
UK & European breakdown cover 4NoNoYes
Extended warranty on appliances 4NoNoYes
Identity theft assistance 4NoNoYes
Emergency card assistance 4NoNoYes
 Apply nowFind out moreApply nowFind out moreApply nowFind out more

Things you need to know

Our current accounts

Important information about our current accounts

You need to be 16 or over to apply for a FlexAccount and 18 or over to apply for a FlexDirect or FlexPlus account.

1 FlexDirect gives you access to 5% AER (4.89% gross p.a.) interest on your in-credit balance up to £2,500. This rate is fixed for first 12 months and then reverts to 1% gross p.a./ AER variable afterwards. You must pay £1,000 or more (excluding internal transfers) into your account each month to receive in-credit interest with FlexDirect.

Under the terms and conditions of this account customers are only entitled to one promotional credit interest rate of 5% AER. The only permitted exception to receive more than one promotional rate is if the additional account is held in joint names.

Any additional FlexDirect accounts held or more than one joint account held by you and another customer will result in the credit interest rate being reduced from 5% to 1% within 3 working days of the account being opened. If you have previously held a FlexDirect account in the last 12 months, you will not be entitled to the introductory rate or offer under a new agreement and therefore you will receive the standard 1% AER interest rate.

Advertised rates correct at 1 March 2013 and this rate can be changed at any time.

2 Overdrafts are only open to customers aged 18 or over and are subject to approval.

3 To be eligible for the interest-free overdraft, 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. Switching to us is easy, and we can manage it for you. More on switching.

There are some conditions and limitations on the insurance policies and benefits that come with our FlexAccount and FlexPlus accounts. Please make sure you read the Insurance policies and account benefits information before you decide if this account is right for you.

Nationwide subscribes to the Lending Code. For more information on the Lending Code please visit http://www.lendingstandardsboard.org.uk/.

How interest is paid

How we pay interest on current accounts

On the last day of each month we calculate the interest you've earned each day of that month and then pay you this interest on the 1st day of the next month. We normally pay you this interest 'net' of any tax, which means we deduct any tax due and pass it to the government for you.

If you're a higher rate tax payer, you'll need to settle any extra tax through your tax return. If you don't pay tax, just download the HMRC R85 form and follow the instructions.

Under the terms and conditions of FlexDirect, customers are only entitled to one promotional credit interest rate of 5% AER. The only permitted exception to receive more than one promotional rate is if the additional account is held in joint names.

Any additional FlexDirect accounts held or more than one joint account held by you and another customer will result in the credit interest rate being reduced from 5% to 1% within 3 working days of the account being opened.

AER and Gross explained

What does AER and Gross mean? 

What does AER mean? 

AER stands for 'annual equivalent rate' and illustrates what the interest rate would be if interest were paid and compounded each year.

What does gross mean?

The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).

Our insurance providers

Our current account insurance providers

FlexAccount European Travel Insurance and FlexPlus Annual Worldwide Travel Insurance are underwritten by U K Insurance Limited, Registered Office: The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England & Wales No:1179980. U K Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Calls may be recorded.

FlexPlus Worldwide Family Mobile Phone Insurance and Extended Warranty Protection have been arranged for Nationwide by Lifestyle Services Group Limited (Financial Services Register No. 315245) with a single provider London General Insurance Company Limited (Financial Services Register No. 202689). London General Insurance Company Limited is registered in England No. 1865673. Registered Office: Integra House, Floor 2, Vicarage Road, Egham, Surrey, TW20 9JZ. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Lifestyle Services Group Limited is registered in England, No.5114385. Registered Office: Assurant House, 6-12 Victoria Street, Windsor, Berkshire, SL4 1EN. Authorised and regulated by the Financial Conduct Authority in respect of insurance mediation activity only.

FlexPlus UK & European Breakdown and Recovery Assistance is underwritten by Liverpool Victoria Insurance Company Limited. Liverpool Victoria Insurance Company Limited, registered in England and Wales Number 3232514 is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority register number 202965. Registered address: County Gates, Bournemouth, BH1 2NF. Tel: 01202 292333.

FlexPlus Identity Theft assistance and Worldwide Emergency Card Assistance are provided by Lifestyle Services Group Limited. The provision of these services is not regulated by the Financial Conduct Authority.

FSCS logo

Financial Services Compensation Scheme

Protecting your money

Find out more - Financial Services Compensation Scheme
Current Account Switch Guarantee logo

Switch your current account to us in just 7 working days

See how it works - Switch your current account to us in just 7 working days

Why choose Nationwide?

Switching to Nationwide