If you have any questions about managing your account, check the frequently asked questions below to see if we can help (just click the question and the answer will appear underneath).

You can apply for a FlexOne Regular Saver account online or in any Nationwide branch.

To be able to apply you must already have a FlexOne current account and be aged from 11 - 17 years old.

You must be aged from 11 to 17 years old to open a FlexOne Regular Saver account but once opened you can keep your account until you're 23.

You, your family, friends and organisations (such as your employer if you have a job) can pay money into your account very easily:

Type of payment How?
You can make a transfer from your Nationwide current account Using Internet Banking or the Banking app. Find out more
You, your family, friends and organisations can pay in cash & cheques At any branch counter. Find out more
You, your family, friends and organisations can pay in money from another account using automated payments (Bill payments or Standing Orders) Give the person or organisation making the payment your FlexOne Regular Saver sort code and account number.

You can make transfers out of your account to a Nationwide current account or another Nationwide account in your name.

You can do this online using our Internet Bank, Banking app or in any Nationwide branch. The money will arrive in your Nationwide account immediately.

Remember you can't make a transfer out of your account if you don't have enough money to cover it.

Maximum balance increase of £100 per month. This means you can deposit up to £100 and replace any money you withdraw from your account in the calendar month, for example if £50 is withdrawn, a total of £150 may be deposited in that month.

Start of month Mid-month End-month Total deposit Total increase
Example 1 Deposit £100 - - £100 £100
Example 2 Take out £20* Deposit £120 - £120 £100
Example 3 Deposit £100 Take out £50 Deposit £50 £150 £100

* Example 2 requires sufficient balance to be available to take out £20

Cash, transfers or automated payments:
If you pay money into your account in cash, by transfer from your Nationwide current account or by automated payment, you can transfer the money out to your Nationwide account immediately, and you’ll earn interest on the money from the date it's paid in unless you take it out on the same day.

Cheques:
All cheques go through a 3-step process called ‘clearing’ which normally takes six working days and applies to all banks and building societies. When you pay a cheque into your account, we need to make sure that the person or organisation that has given you the cheque has enough money in their account to pay the amount that’s written on the cheque.

So you won’t be able to take your money out straight away and we won’t pay you interest on the money straight away.

At the end of the sixth working day following the day you paid the cheque in the money will be 'cleared for certainty' which means its definitely staying in your account.

The table below explains the cheque clearing process with a few examples:

Step 1 Step 2 Step 3
Cheque paid... Interest is paid from Withdrawals are allowed from You’ll know whether the money is cleared and staying in your account from
Cheques paid into your FlexOne Regular Saver account in branch The start of the second working day following the day you pay it in The start of the fifth working day following the day you pay it in The end (11:59pm) of the sixth working day following the day you pay it in
Example 1: Cheque paid in on a Monday Wednesday Monday of the following week Tuesday of the following week
Example 2: Cheque paid in on a Saturday Tuesday* Monday of the following week Tuesday of the following week

* For interest purposes only we count Saturday as a working day, everything else in example 2 is counted from the following working day.

No. You can only make payments into (or from) your FlexOne Regular Saver account in UK pounds. Overseas electronic payments and foreign cheques cannot be paid into your account.

You should check your transactions regularly by looking in the Internet Bank or Banking app and tell us straight away if there’s anything which you weren’t expecting or you don’t recognise.

If we’ve taken action against someone else because of something that has happened on your account, you must help us and provide us with all the information we reasonably ask for. However, you should never tell anyone (including our representatives) your Internet Banking or Banking app security details (such as your customer number, passnumber or the card PIN associated with your FlexOne account).

Yes, if the money isn’t yours to keep it must be repaid.

No, to take money out, you will need to make a transfer from your FlexOne Regular Saver to your FlexOne current account (or another Nationwide account if you have one) by logging in to the Internet Bank or Banking app.

Once the money is in your current account you can withdraw it as normal or use your current account card.

Since 6 April 2016 interest is paid without tax deducted. You may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information please visit HMRC’s website at hmrc.gov.uk

We therefore no longer require you to complete an R85 to receive interest gross.

Please tell us straight away if you change your personal details, the table below explains how to do this:

Branch Internet Bank Over the phone
Name Yes No No
Address Yes Yes No
Telephone number Yes Yes Yes
Email address Yes Yes Yes

Nothing, you can continue using your account until you are 23 years old.

When you're 23 your FlexOne Regular Saver account will be closed and any money in it transferred to a instant access savings account.

We will do this for you automatically and tell you about the change before it happens.

We pay interest to your account each year on 31 December, unless it is a Saturday, Sunday or Bank Holiday when it will be added on the next working day. You’ll earn interest on cash, transfers in from a Nationwide account and automated transfers from the date it's paid in unless you take it out on the same day.

You can only have one FlexOne Regular Saver account.

When we want tell you about something, we’ll do it in one or more of the following ways:

Personal messages for you Messages that all our customers see 
Writing to you (email, letter or text) Display in branch
Phoning you Display on our website
In person (in branch) Advertising in the press
Secure message or notice in the Internet Bank  
Any other way that's reasonable and appropriate at the time  

We don’t provide credit facilities (any way of allowing you to borrow money from us) to anyone aged under 18, but after you reach the age of 18 if any money you owe Nationwide (for example on a loan, credit card, mortgage, overdraft or otherwise) is overdue for payment, we may use any money you have in any of your accounts with Nationwide to reduce or repay what you owe, by way of set-off. We won’t exercise our right of set-off where any of the following apply:

  • the money is needed to meet your essential living expenses;
  • if you are holding the money on behalf of someone else; or
  • you have received the money from a government department, local authority or NHS direct payment organisation for care needs or you are under a legal obligation to keep the money and use it in a particular way