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Features & benefits

Rates, fees & overdrafts

FlexAccount interest rates, fees and overdraft details

Main rates & fees when you are in credit

Main rates & fees when you are in credit
Interest we pay you	Monthly fee for maintaining the account
0%	£0

Overdrafts

Overdrafts are only available to those aged 18 or over subject to status and approval. When you apply for an account, we'll tell you if we can offer you an arranged overdraft. You will have 28 days' notice before we take any overdraft fees from your account.

Overdraft fees
Interest charges for arranged overdrafts	Interest charges for unarranged overdrafts
18.9% EAR (variable) ¹	*18.9% EAR (variable) capped at £5 per month.** + a paid transaction fee of £5 for allowing a payment despite lack of funds and an unpaid transaction fee of £5 for refusing a payment due to lack of funds, capped at £45 per month*. If you have unarranged overdraft fees or charges on your account which you are concerned about or think may be wrong, please contact us.

FlexAccount Arranged Overdraft Representative Example:

If you use an arranged overdraft of £1,200 the interest rate we will charge you is 18.9% EAR (variable).

For more information see our examples of current account charges
To understand more about how overdrafts work see our Understanding Overdrafts Leaflet

*The monthly cap on unarranged overdraft charges for a FlexAccount is £50. Further details can be found online at Monthly Maximum Charge (MMC)

Other charges and fees

We've shown you the main rates and fees that most people want to know above. For the full list of all our current interest rates and other fees and charges please download our latest interest rates and charges leaflet (This link will open in a new window) . To help you understand the fees for this account, please read the Fee Information Document.
For past rates and charges, see our current account support section.

To see what charges we make for payments in other currencies and using your card abroad, see our using your cards abroad section.

Important information

You need to be 18 or over to apply for a FlexAccount.

All rates and charges are subject to change and we may decide when to apply and waive any account charges.

What is EAR?
EAR stands for ‘Equivalent Annual Rate' which allows you to compare the rates offered by different providers. It's the cost of an overdraft stated as a yearly rate, taking into account the compounding rate of interest. We work out interest each day on any overdrawn amount and take it from your account monthly, giving you 28 days' notice of the amount. Any interest charged is added to the balance outstanding.

¹ If we make a change to these charges we'll notify you 7 days in advance if the change is to your disadvantage. If the change is to your advantage we may make it immediately.

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Your borrowing choices

It’s a good idea to consider different types of borrowing. The best option for you depends on the amount you want to borrow, and how long for. We’ll need to check before we can offer you a loan, overdraft, or credit card. It will depend on our view of your circumstances.