FlexDirect current account
Get access to 5% interest on your money and an interest-free arranged overdraft for the first 12 months with our online current account.
Switch to a FlexDirect and you could get up to £125
If you're not yet a member, you could get £100. If you're already a member, you could get £125. It’s another example of our mutual difference and giving back to our members. Complete a full switch online to a FlexDirect from another building society or a bank, and make sure you switch over 2 Direct Debits as part of your switch. We may change, replace or withdraw this offer at any time. Terms and conditions apply.
Why choose our FlexDirect
Get interest on your money
5% AER (4.89% gross a year) fixed for 12 months on balances up to £1,500. You’ll need to pay in at least £1,000 a month, not counting transfers from other Nationwide accounts or Visa credits. After the first 12 months, it’s 0.25% AER (0.24% gross a year) variable. Interest is calculated on the last day of each month and is paid on the first day of the next month. Find out about our interest rates.
Interest-free arranged overdraft for 12 months
After 12 months, an interest rate of 39.9% a year compounded (variable) will apply to your arranged overdraft. Before we can offer you one, we'll need to look at your circumstances.
We don’t charge a monthly fee for maintaining the account.
To apply for FlexDirect
You need to:
- be 18 or over
- be a UK resident
- agree the account is for personal use only
- hold no more than 4 existing sole or joint Nationwide current accounts
- register for the Internet Bank as per the terms and conditions - PDF 409KB (opens in a new window).
Have you had a FlexDirect account before?
If you’ve had a FlexDirect account before, you won’t receive the 12 month credit interest offer or the interest-free overdraft offer again. However, you will get the offer on a new joint account, as long as you have not shared a FlexDirect account with that person before.
Switching to Nationwide
Fast — switch in just 7 working days. You choose the date, and we’ll let you know when it’s done.
Seamless — a dedicated team does it all for you. They’ll switch your payments, balance and even your list of payees.
Guaranteed — there shouldn't be any problems but if there are, you won't lose a penny.
Make banking easier with our secure app
- Manage all your Nationwide accounts in one place
- View and search your transactions
- Freeze and unfreeze your Visa Debit card
- Report your card lost or stolen and order a new card
Manage your account your way
Designed for online and over the phone
FlexDirect must be managed online or over the phone where possible.
Pay with your phone
You can use Apple Pay, Google Pay, Samsung Pay or Paym.
Keep track of your money
You can set your text alert preferences to help you manage your money. And you can go paperless to help keep track digitally.
You can open your FlexDirect as a joint bank account or add someone to it later. This could be a partner, a family member or a friend.
Visa debit card
You can make contactless payments up to £100 with your Visa debit card.
You can get a chequebook on request.
Apple Pay, Samsung Pay and Google Pay are available on selected devices and operating systems. Apple Pay and Apple are trademarks of Apple Inc., registered in the U.S. and other countries. Google Pay and Android are trademarks of Google LLC. Samsung and Samsung Pay are trademarks or registered trademarks of Samsung Electronics Co., Ltd.
You can apply for an arranged overdraft at any time. When you do, we’ll look at your circumstances to see if we can offer you one. You’ll need to be 18 or over and a UK resident.
Find out more about overdrafts using our:
Overdrafts page – to understand how they work.
Overdraft calculator – to see how much one might cost.
To find out how much we might be able to offer you, you can use our arranged overdraft eligibility tool as part of your FlexDirect application. We’ll need some information about you. Things like your name, address history, employment and income. We’ll run a soft credit check to see what we can offer you. This won’t affect your credit score. If you choose to continue with your application, we’ll run a hard credit check too.
The representative example shows you the rate of interest we charge for arranged overdrafts. For FlexDirect, this example shows the cost once any interest-free period has ended.
If you’re in the first 12 months of opening your first FlexDirect current account, we don’t charge interest on arranged overdraft use. It’s interest free.
FlexDirect Arranged Overdraft Representative Example:
39.9% APR Representative (variable). Based on an assumed arranged limit of £1,200 and an interest rate of 39.9% a year (variable).
How does our arranged overdraft compare?
A good way to compare the cost of our arranged overdraft with other overdrafts or ways of borrowing is to look at the representative APR.
APR stands for Annual Percentage Rate. It includes all the costs of borrowing including certain account fees and promotional rates.
Staying in your arranged overdraft over a long period can be an expensive way to borrow.
In-credit interest rates
FlexDirect offers in-credit interest on every penny in your account up to £1,500.
|Type of rate||Interest on every penny up to £1,500||Interest on every penny over £1,500|
Fixed for the first 12 months from when you open your account
0% AER (0% gross a year)
Ongoing variable rate once any offer period has ended
0% AER (0% gross a year)
How do the in-credit interest rates work?
These interest rates will only be paid if you are paying in at least £1,000 per month, not counting transfers from other Nationwide accounts or Visa credits.
Interest is calculated on the last day of each month and is paid on the first day of the next month. We pay interest without tax deducted.
If the account balance that we calculated interest on changes, then we may need to debit your account with an interest adjustment.
We launched a new in-credit interest rate on 21 June 2022
We regularly review our accounts to make sure we’re competitive. That’s why we increased our FlexDirect 12-month fixed introductory in-credit interest rate from 2% AER (1.98% gross a year) to 5% AER (4.89% gross a year) on 21 June 2022.
This introductory fixed rate is a 12-month offer. So, if you already have a FlexDirect that you opened or applied for before 21 June 2022, your in-credit interest rate will still be fixed for the first 12 months at the rate that was available when you applied for your account. This was 2% AER.
Please remember you can only receive the 12-month in-credit interest rate offer on your first FlexDirect. This means if you’ve held a FlexDirect before and got the 5% or 2% AER introductory rate, you can only get the 5% AER rate if you open a joint FlexDirect and you haven’t previously held a FlexDirect in those joint names.
Fees, charges and important documents
Before you apply, make sure you read the:
We don’t charge a monthly fee for maintaining the account, but charges can apply for:
Apply for FlexDirect
When you apply for FlexDirect, you can:
- apply for a brand new bank account
- switch your current account from another building society or a bank to us, or
- change your existing Nationwide current account to a FlexDirect.
Quick comparison of our everyday bank accounts
We offer a few different current accounts. Check that you’re applying for the right account for you.
If you can't view the whole table, swipe or scroll to show more > > >
If you don’t qualify for a FlexAccount, FlexDirect or FlexPlus current account, you may be offered a FlexBasic account.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded each year.
Gross a year is the interest rate without tax deducted.
APR stands for Annual Percentage Rate. It includes all the costs of borrowing including certain account fees and promotional rates. It’s for comparing costs between different products and providers.
I need help with my account
Protecting your money
The Financial Services Compensation Scheme (opens in a new window) (FSCS) is a free, independent service that protects up to £85,000 of your eligible money at Nationwide.