FlexDirect current account
Our online account with access to 2% in-credit interest and an interest free arranged overdraft for the first 12 months.
Features and benefits
2% AER (1.98% gross a year) fixed for 12 months on balances up to £1,500
After the first 12 months, it’s 0.25% AER (0.24% gross a year) variable. You’ll need to pay in at least £1,000 a month, not counting transfers from other Nationwide accounts or Visa credits. Find out more about in-credit interest rates.
Interest-free arranged overdraft for 12 months
Pay no interest on your arranged overdraft for 12 months from the date you open your first FlexDirect account. After the first 12 months, an interest rate of 39.9% APR Representative (variable) will apply. Before we can offer you an arranged overdraft, we’ll need to look at your circumstances first.
FlexDirect is designed to be managed online and not in branch. Everyday banking can be done on your phone, computer, tablet or smart watch, using our Banking app or Internet Bank.
We don’t charge a monthly fee for maintaining the account.
Access to other Nationwide products
Opening a FlexDirect is one way to become a member of Nationwide. Members get access to exclusive products such as credit cards and loans. Find out more about membership.
Available as a joint account
This can be with your partner, a family member or a friend.
FlexDirect comes with everything you’d expect from a Nationwide current account, including:
- Contactless, Apple Pay, Google Pay, Samsung Pay and Paym
- Paperless statements
- Text alerts — set your preferences to help you manage your money
- Chequebook available on request
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.
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.
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
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
Arranged overdraft eligibility tool for FlexDirect – to find out much we might be able to offer you, without affecting your credit score. If you do choose to continue, we’ll carry out a full credit check.
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 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)
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.
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.
Fees, charges and important documents
Before you apply, make sure you read the:
Apply for FlexDirect
When you apply for FlexDirect you can:
- apply for a brand new account
- switch your current account from another bank or building society 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.
You can also see a full comparison of our everyday bank accounts.
If you can't view the whole table, swipe or scroll to show more > > >
If you don’t qualify for a FlexAccount, FlexPlus or FlexDirect current account, you may be offered a FlexBasic account.
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.