These conditions together with our current account general terms and conditions and our rates and charges leaflet apply to the FlexStudent account. You should read them carefully. If these additional conditions conflict with the general terms and conditions, these additional conditions will apply.

1. Account holding and ownership

  1. You must be aged 18 or over and studying on a full-time UCAS registered course of two or more years’ duration.
  2. You can only have one FlexStudent account open at any one time.
  3. The FlexStudent account cannot be held jointly with another person
  4. You must be registered for Internet Banking.

2. Funding your account

  1. You must pay in at least £500 per term from the date the account is opened.
  2. If you don't, we may:
    • remove or decline to increase your arranged overdraft; or
    • close your FlexStudent account on giving you at least two months' notice.

3. Changing your contact details

You must tell us straight away if you change your name, address, telephone number or other contact details you have given us (like an email address). You can do this through the Internet Bank, by calling us or in branch.

4. Arranged Overdrafts

  1. An arranged overdraft is subject to us checking your credit history and ensuring it is affordable for you.
  2. You won’t pay any charges, interest or fees on any arranged overdraft we give you.
  3. You can ask us for an arranged overdraft or ask us to increase your arranged overdraft limit online through the Internet Bank, by calling us or in branch.
  4. If we agree, the maximum available arranged overdraft limit you can ask us for will depend on your year of study:
Maximum available arranged overdraft limit by years of study.
Year of study Maximum available arranged overdraft limit
1 £1,000
2 £2,000
3 £3,000
  1. You can ask us to reduce your arranged overdraft limit at any time.
  2. Overdrafts are repayable on demand. We may ask you to repay or reduce your arranged overdraft at any time. Some examples of when we might ask you to do this are if:
    • you’re made bankrupt;
    • you’re behind on payments on other credit held with us or someone else; or
    • you have a court judgement registered against you for a debt.
  3. If you try to make payments from your account and you do not have enough money available to use (including any arranged overdraft limit) generally we will not make those payments. However, there is a small chance that a payment could be made causing you to go into an unarranged overdraft. For example, if a payment into your account is recalled by the bank making it or a cheque paid into your account is returned unpaid. If this happens we will not charge you any fees but you must repay the unarranged overdraft straightaway. We may reject any further payment requests until you do this.

5. When your studies end and changes to your course or circumstances

  1. Graduation

    When your course ends you’ll no longer be eligible for the FlexStudent account. Unless you make alternative arrangements with us, we’ll move your account to a FlexGraduate account and the terms and conditions for that account will apply to you. We’ll tell you at least two months before we move your account to the FlexGraduate account and will give you full information about the account and its terms and conditions

  2. Extending your studies or changing your course

    If you extend your studies or change your course, you must tell us as soon as possible and provide us with evidence of the change if we ask for it.

  3. Change of circumstances

    If your circumstances change, for example you leave your course before completing it, you must tell us as soon as possible, as you’ll no longer be eligible for the FlexStudent. If you stop being eligible for the FlexStudent account (other than because you complete your course), we’ll automatically convert your account to our FlexAccount (if you’re eligible) or our FlexBasic account (or, if we no longer offer those accounts, our standard current account at that time). Our current account general terms and conditions will continue to apply to your account together with the additional conditions for the account.

Nationwide Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 106078. You can confirm our registration on the FCA’s website fca.org.uk (opens in a new window).

Nationwide Building Society. Head Office: Nationwide House, Pipers Way, Swindon, SN38 1NW