Features and benefits

With FlexOne, you can request an arranged overdraft once you’ve turned 18. An arranged overdraft is designed for short term borrowing.

  • Completely free until you turn 23
    Your arranged overdraft is free with FlexOne. There are no fees, no charges and no interest to pay. Just remember that these terms will change when you move to an adult account.

  • Easy to manage
    We’ll send you text alerts to help you manage your arranged overdraft. You can also keep track in our Banking app and Internet Bank.

  • A fixed and clear limit
    We won’t let you go over your arranged overdraft limit if we can help it.

To get an arranged overdraft, you need to:

  • be 18 or over
  • be a UK resident.

We’ll also look at your circumstances before we offer you an arranged overdraft.

Arranged overdraft rate for FlexOne

The representative example shows you the rate of interest we charge for arranged overdrafts.

FlexOne Arranged Overdraft Representative Example:

0% APR Representative (variable). Based on an assumed arranged limit of £1,200 and an interest rate of 0% 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. The APR shows the cost of borrowing as an annual rate.

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.

To find out how much an overdraft would cost for any of our current accounts, see our overdraft calculator.

How to apply for an arranged overdraft or change your limit

You can ask us for an arranged overdraft, or change your arranged overdraft limit:

Get step-by-step instructions for requesting or changing an arranged overdraft.


Just as with other forms of borrowing, opening an arranged overdraft will be recorded on your credit file. Increasing your arranged overdraft limit frequently can negatively affect your credit score.

How to manage your arranged overdraft

We’ll send you text alerts to help you manage your arranged overdraft. You’ll get these automatically unless you’ve opted out, or we do not have your correct mobile number. You can choose to stop text alerts at any time.

You can keep track of your spending and easily transfer money through our Banking app and Internet Bank. You’ll find copies of your statements in the Internet Bank which include all charges for your overdraft.

Related links

Other ways to borrow

Arranged overdrafts are designed for short-term borrowing. But there are other ways to borrow that may be better for you, depending on your needs. Learn about:

Nationwide adheres to The Standards of Lending Practice, which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk (opens in a new window).