Our current accounts

Nationwide current accounts

FlexPlus

Nationwide FlexDirect Card

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

  • Worldwide family travel insurance, mobile phone insurance, breakdown cover and extended warranty 4
  • Identity theft and emergency card assistance 4
  • Commission-free cash withdrawals abroad
  • 3% AER (2.96% gross p.a.) variable in-credit interest on balances up to £2,500
  • 3 month fee-free overdraft and a £100 fee-free limit after that 2
  • Flexclusive product offers and rewards (conditions apply)
Your Money - Direct Awards 2013 logo

Nationwide was named Best Online Banking Provider in the 2013 Your Money Direct Awards.

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
V.me by Visa logo

The all new Nationwide Digital Wallet

powered by V.me by Visa

Find out more - The all new Nationwide Digital Wallet

And, as the world's largest building society…

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 provided for Nationwide by U K Insurance Limited, Registered Office: The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England No:1179980. U K Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority.

Worldwide Mobile Phone Insurance is arranged and administered for FlexPlus by Lifestyle Services Group Limited and underwritten by London General Insurance Company Limited.

FlexPlus Breakdown cover is provided by Britannia Rescue and is underwritten by Liverpool Victoria Insurance Company Limited.

Extended Warranty Protection is arranged and administered for FlexPlus by Lifestyle Services Group Limited and underwritten by London General Insurance Company Limited.

Identity Theft and Worldwide Emergency Card Assistance are provided for FlexPlus by Lifestyle Services Group Limited.

Nationwide Cash Card

Need a basic bank account?

If you're looking for a very basic bank account, we also have our Cash Card Account.

Find out more - Need a basic bank account?
FSCS logo

Financial Services Compensation Scheme

Protecting your money

Find out more - Financial Services Compensation Scheme

Compare our accounts

Why choose Nationwide?

Switching to Nationwide