Current accounts designed around you

You need to be 18 or over to apply for a FlexAccount, FlexDirect, FlexPlus, FlexStudent or FlexBasic account.

You need to be 11 to 17 to apply for a FlexOne account. Once you have one, you can keep it until you're 23.

*To open a FlexStudent account you must be aged 18 or over and accepted on a full time UCAS course that’s at least 2 years long. If you have an unconditional offer you need to be no more than 5 months before your course start date or no more than 2 months after your course start date. If you have a conditional offer, you’ll need to wait until your place has been confirmed following your results before applying. Overdrafts are subject to status and at least £500 per term being paid in from the date the account is opened. You can apply up to 18 months after your course starts if you’re already a Nationwide member, and have been with us for at least 12 months. You’re a member if you have a savings, mortgage or current account with us. If it’s been more than 2 months since your course started, you’ll need to pop into branch or give us a call to apply.

¹ To receive these rates you must pay in to your FlexDirect account at least £1,000 a month. Money paid in from other Nationwide accounts held by you or anyone else or visa credits (for example, refunds you receive back into your account) won’t count towards the £1,000. Interest is calculated on the last day of each month and is paid on the first day of the next month. We pay interest without tax deducted. If the account balance that we calculated interest on changes, then we may need to debit your account with an interest adjustment. You can get the 5% rate on more than one FlexDirect account as long as you haven’t opened accounts in that name or those joint names before. For example, you could earn the 5% rate on both an account in just your name, and on a joint account in your and your partner’s names. If you open new accounts in the same name or joint names as previous accounts, they'll earn the standard 1% AER rate, even if you’ve closed the first accounts in those names.

Advertised rates correct at 1 November 2019 and these rates can be changed at any time.

²There are some limitations and exclusions to the insurance policies and benefits that come with our FlexPlus account. Please make sure you read the Insurance policies and account benefits information before you decide if this account is right for you.

³ If you’ve had a FlexDirect account before, you cannot use the 12 month interest-free arranged overdraft offer again unless you’re opening a FlexDirect in a different name or names. For example, a new joint account with a different person. Or your first ever FlexDirect account in just your name.

We pay interest without tax deducted. Find out more about the changes to the Personal Savings Allowance.

Under the terms and conditions of FlexDirect, customers are only entitled to one promotional credit interest rate of 5% AER (4.89% gross p.a.) fixed. The only permitted exception to receive more than one promotional rate is if the additional account is held in joint names.

Any additional FlexDirect accounts held or more than one joint account held by you and another customer will result in the credit interest rate being reduced from 5% AER (4.89% gross p.a.) fixed to 1% gross p.a/ AER (variable) within 3 working days of the account being opened.

EAR stands for ‘Equivalent Annual Rate’. It’s an interest rate that takes into account the compounding of interest. That’s when interest is added to your outstanding balance, meaning you pay interest on interest already charged. It doesn’t include fees or promotional rates.

AER stands for 'annual equivalent rate' and illustrates what the interest rate would be if interest were paid and compounded each year.