These Product Terms and Conditions are specific to your savings product. They form part of your savings account’s terms and conditions, so you need to read these along with the other documents that make up your agreement.

Your Product Terms and Conditions have priority over anything that’s said differently in another part of your agreement.

FlexOne Saver

This product is for members aged between 11 and 22 who also hold a FlexOne current account and want to manage their account online or in branch.

Key terms you need to know

‘Nominated Account’ is an account you’re named on that can accept payments from your FlexOne Saver account. This account must be:

  • a Nationwide current account or savings account; or
  • a current account with another UK provider that accepts Faster Payments.

Conditions for holding your account

You need to be aged between 11 and 22. When you reach the age of 23, we’ll transfer your account to a different instant access savings product.

You must have a Nationwide FlexOne current account. If this account is closed after you’ve opened a FlexOne Saver, we may transfer your account to a different instant access savings product.

We’ll always tell you personally before we transfer your account to a different instant access savings product. After the transfer, the terms and conditions and the interest rate for the new product will apply.

This account can only be held in your own name. Joint accounts are not allowed.

You can only have one FlexOne Saver account at any time.

You can’t have more than £5,000 in your account. This limit doesn’t include any interest calculated on your account balance and added to your account.

If it’s been more than 28 days since you opened your account and you still haven’t paid any money in, we’ll close it.

You must be registered to use the Internet Bank and have a valid email address if you want to manage your account online.


Your account doesn’t have a fixed term.

Managing your account

You can run your account in any of the following ways:

  • Using the Internet Bank or our Banking app (if you’re registered)
  • In branch.


We’ll pay interest into your account on the anniversary of your account opening. If you open your account on 29 February, we’ll pay your interest on 28 February.

We’ll also pay interest when you close your account.

The interest rate we pay on your account is variable, meaning it can go up or down.

Paying money into your account

You can only pay money into your account by electronic transfer. In branch, this includes an internal transfer from your FlexOne current account, or another current account or savings account you have with Nationwide. Please check the terms and conditions for your other account to find out if internal transfers in branch are allowed and, if they are, how to make them.

If you try to pay in an amount that would take you over the maximum balance, the whole of the payment will be rejected. Any rejected electronic transfers will be returned to the account the payment was made from.

Taking money out of your account

You can only take money out of your account by sending it to:

  • your FlexOne current account, or another current account or savings account you have with Nationwide (as long as it accepts payments)
  • your Nominated Account.

We’ll send money you withdraw to your Nationwide current account or savings account (including where this is your Nominated Account) by internal transfer. And if you’re withdrawing money by sending it to a Nominated Account you have with another UK provider, we’ll send it by Faster Payment.

If you want to take money out in one of these ways in branch, we’ll ask you to sign a written request and you’ll need to hand the debit or cash card for your FlexOne current account to one of our branch staff. We may also ask you for additional information to confirm your identity.

You can close your account in branch or by using the Internet Bank.

Important related links

Protecting your money

The Financial Services Compensation Scheme (opens in a new window) (FSCS) is a free, independent service that protects up to £85,000 of your eligible money at Nationwide.