Pre-Contract Credit Information for arranged overdrafts

FlexOne Account

Important information - please read carefully

PRE-CONTRACT CREDIT INFORMATION

Arranged overdraft

1. Contact details

Contact details
Creditor. Nationwide Building Society.
Address. Head Office, Nationwide House, Pipers Way, Swindon, Wiltshire, SN38 3FN

2. Key features of the credit product

Key features
The type of credit Arranged Overdraft
The total amount of credit. This means the amount of credit to be provided under the agreement or the credit limit. When your application has been approved we will tell you your arranged overdraft limit.
The duration of the credit agreement.

The agreement has no fixed or minimum duration. However, your arranged overdraft is repayable in full on demand at any time.

If you are planning to have a large outstanding balance on your arranged overdraft over a long period of time, we have alternatives that you may wish to consider.

3. Costs of the credit

Cost of credit FlexOne
The rates of interest which apply to the credit agreement.

No interest rates are applicable to the credit agreement.

If we start charging interest on your arranged overdraft, we’ll tell you personally at least two months before we make the change

Costs.

The conditions under which those costs may be changed.

No charges are applicable to the credit agreement.

If we start charging interest on your arranged overdraft, we'll tell you personally at least two months before we make the change.

Costs in the case of late payments. There are no charges for late or missed payments.
Consequences of not repaying any amount due under the credit agreement. You will be in default on the credit agreement and:
  • You may pay more overall;
  • We may register your details with credit reference agencies;
  • You may find it difficult to obtain credit in the future;
  • Legal proceedings could be taken against you, which could result in any outstanding debt being secured against any property you own;
  • We may use any credit balance on any other account you hold with us to reduce or repay any sum you fail to pay to us under the credit agreement; and
  • We may withdraw the arranged overdraft facility and/or close your account with us. We may also cancel or suspend the use of your card and/or refuse to authorise any transaction.
Other Fees and Charges. You may have to pay other taxes or costs in addition to any fees shown here.

4. Other important legal aspects

Other important information
Termination of the credit agreement.

We will aim to give you at least 14 days' notice before withdrawing your arranged overdraft or demanding repayment.

You may terminate this agreement at any time whilst your account is and continues, at time of notifying us of termination, in credit, by writing to us at the above address, or online.

Right to cancel

You can cancel your agreement without giving us a reason within 14 days starting on the day after you receive your copy of the arranged overdraft letter but you must repay any monies drawn from your arranged overdraft.

You may do this by writing to us at the address at the top of this document, or through your internet banking service.

You can end your arranged overdraft at any time by telling us and repaying everything that you owe.

Consultation with a credit reference agency. If we decide to reject your credit application on the basis of information received from a credit reference agency we must, when telling you that your application has been refused, tell you that it has been refused on that basis and give you details of the Credit Reference Agency we used.
The period of time during which the creditor is bound by the pre-contractual information. The details contained in this document are only correct for the day of issue.

5. Additional information in the case of distance marketing of financial services

Additional FlexOne information
(a) concerning the creditor.
Registration number. Firm Reference Number 106078
The supervisory authority. The Financial Conduct Authority.
(b) concerning the credit agreement.
The law taken by the creditor as a basis for the establishment of relations with you before the conclusion of the credit contract. English law.
The law applicable to the credit agreement and/or the competent court. The credit agreement is subject to English law.
Language to be used in connection with your agreement. English.
(c) concerning redress.
Access to out-of-court complaint and redress mechanism.

If you feel our service in any way falls short of the service you expect, we have an internal complaints procedure that ensures that your views are heard and dealt with quickly.

If you would like further information about our procedure or wish to make a complaint please:

  1. visit our website and click on the option 'Contact us'
  2. phone 0800 30 20 11; or
  3. visit one of our branches

If you are not satisfied with the way we have dealt with your complaint you may refer it to the Financial Ombudsman Service. You can also refer your complaint to them first without giving us the opportunity to resolve it, but if you do this, they will only consider your complaint with our consent. The Financial Ombudsman Service provides a free, independent, complaint resolution service. Details about their service and how to refer a complaint to them can be found on their website at www.financial-ombudsman.org.uk

Nationwide Building Society

Head Office, Nationwide House
Pipers Way, Swindon
Wiltshire
SN38 1NW.

 

Form Ref: PCI_7007 (October 2018)