You'll be moved to one of our adult current accounts

Your FlexGraduate account was designed to help you pay back your overdraft in steady steps. Now that you’re nearing the end of your account’s term, you'll be moving to 1 of our main range current accounts.

If you are:

  • registered for the Internet Bank and have chosen to go paperless, your account will change to FlexDirect
  • not registered for the Internet Bank or haven’t gone paperless, your account will change to FlexAccount.

What you need to know about the account move

  • Your PIN, sort code and account number will stay the same.
  • You won't need to change your regular payments such as Direct Debits and standing orders. However, recurring Visa payments won't automatically update. For example, subscription services where you use your card number to make a payment. Find out more about types of payment.
  • You’ll need to add your new card to Apple Pay, Google Pay and Samsung Pay* once it's arrived in the post. It won't update automatically.
  • You'll still get text alerts, although these may change depending on how you use the overdraft on your new account.
  • You’ll receive statements in your chosen preference. Alternative Format Mailing (AFM) requirements will be carried forward.
  • When your account changes, it will be subject to the terms and conditions of your new account, including any interest charges - PDF 223KB (opens in a new window).
  • You’ll also be able to add another account holder and also use a cheque book. This can be ordered on the Internet Bank or by getting in touch with us.

Keep in mind, if you already have a FlexAccount or FlexDirect, your FlexGraduate will still change.

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, Android, Google Pay and Google Wallet are trademarks of Google LLC. Samsung and Samsung Pay are trademarks or registered trademarks of Samsung Electronics Co., Ltd.

What happens to your arranged overdraft

If you have an arranged overdraft limit over £1,000, this will go down to £1,000 when your account changes to FlexAccount or FlexDirect.

Your arranged overdraft limit and any overdrawn balance will be moved over to your new account. It will be subject to any interest charges payable under your new account terms and conditions.

If your overdraft balance is over £1000

If your overdraft balance is over £1,000, you’ll need to bring it within the new limit before you move accounts. It’s important to do this. If you don’t, then you won’t be able to make payments or take cash out.

To see how much you’ll be charged for using the arranged overdraft on your new account, you can use our overdraft calculator.

It will give you an idea of how much you may be charged based on your current arranged overdraft.


If you’re finding it hard to pay back your arranged overdraft, we may be able to help. Call us on 0800 464 30 40 (Monday to Friday, 8am to 6pm. Saturday, 9am to 12pm. Closed Sundays and bank holidays).

What happens to your card when your account moves

Your FlexGraduate card will continue to work for 21 days after you have moved to your account.

If you don’t receive your new card within 10 working days, let us know on 03457 30 20 11.

You can also request a new card on the Banking app.

How the FlexDirect 12-month introductory offers work

If this is the first FlexDirect account you’ve had in just your name, you’ll be eligible for our 12-month introductory offers. You can also benefit from the 12-month introductory offers on the first FlexDirect account you open in joint names.

If you’re eligible:

  • your arranged overdraft will also remain interest-free for the first 12 months after opening your account. After that, or if you’re not eligible, FlexDirect arranged overdrafts have an interest rate of 39.9% APR representative (variable)
  • you’ll receive credit interest of 5% AER (4.89% gross) a year. That’s fixed for the first 12 months on balances up to £1,500. After that, you’ll receive 1% AER (0.99% gross) variable on balances up to £1,500. To receive interest, you’ll need to pay in at least £1,000 a month. This doesn’t include transfers from other Nationwide accounts held by you or anyone else or Visa credits. For example, refunds you may receive back into your account.

Please see our FlexDirect page for the full list of conditions related to overdrafts.

If you're not happy with your new account

You can’t keep your FlexGraduate, as it’s only available to members who have graduated in the last 2 or 3 years. If you’re not happy with your new account, you can change to another one of our current accounts.

You can choose to close your FlexGraduate account any time:

You can switch to another current account provider. If you have any overdraft balance, you may be able to transfer this too. The Current Account Switch Service is an easy way to do this. It usually takes 7 working days.

If you decide to close your current account and have an existing overdraft, you’ll need to pay that back first. That includes any outstanding fees or charges.

FlexDirect is online only. But keep in mind, if you have any Alternative Format Mailing (AFM) requirements, you can still switch to this account. You'll need to get in touch with us once you've switched, just to make sure that anything we send you is in the right format.

Jargon explained

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.

Current Account Switch Service

Switching your current account to Nationwide takes just 7 working days. Better yet, it’s backed by a guarantee that means you’ll never be left out of pocket.