Introducing the new Monthly Maximum Charge for our FlexAccount, FlexPlus and FlexDirect current accounts

If you have one of our FlexAccount, FlexPlus or FlexDirect current accounts, you’ll see a change to the way we charge you for any unarranged overdraft borrowing from 1 August 2017.

New Competition & Markets Authority regulations mean that along with all other current account providers, we’ll be publishing a Monthly Maximum Charge for going into an unarranged overdraft.

What is the Monthly Maximum Charge?

Put simply, the Monthly Maximum Charge (MMC) is the most you’d pay each month in fees, charges and interest for any unarranged borrowing. The MMC will be capped at £50, and it’ll apply only to unarranged fees, charges and interest – not to any arranged overdraft fees, charges or interest.

Monthly cap on unarranged overdraft charges

  1. Each current account will set a monthly maximum charge for:
    (a) Going overdrawn when you have not arranged an overdraft; or
    (b) Going over/past your arranged overdraft limit (if you have one).

  2. This cap covers any:
    (a) Interest and fees for going over/past your arranged overdraft limit;
    (b) Fees for each payment your bank allows despite lack of funds; and
    (c) Fees for each payment your bank refuses due to lack of funds.

How will you know if you've been charged any fees?

If you’re charged for going overdrawn, this will be on your statement in the Notice of Charges section. We’ll let you know by email when your statement is ready to view online if you’ve chosen to go paperless, and tell you in that email if there are any fees, charges and interest.

Other ways to keep an eye on your fees, charges and interest

Need more information?

For more details on our current account overdraft fees, charges and interest, see our Understanding Overdrafts and Interest Rates and Charges leaflets.

Helpful links

Check the overdraft fees on your account
Compare our current accounts
Switch your current account to Nationwide
Check our overdraft calculator to see how much it costs you to borrow in your arranged overdraft


The MMC covers all unarranged overdraft fees, charges and interest. Depending on which account you have, these include:

  • Interest on unarranged overdraft balances
  • Daily fees on unarranged overdraft balances
  • Paid Transaction Fees – when a transaction is paid by us on your behalf leaving your balance in an unarranged overdrawn situation
  • Unpaid Transaction Fees – when a transaction is refused by us owing to insufficient available funds

Any unarranged overdraft fees, charges and interest that were incurred in July 2017 will be capped based on our existing rules about unarranged borrowing*. The £50 MMC cap will only apply to any unarranged overdraft fees, charges and interest incurred after 1 August 2017.

So as different caps applied in July and August, it’s possible your fee for any unarranged borrowing in your August Notification of Charges could be higher than the new £50 MMC cap.

*Download our Understanding Overdrafts leaflet for more information.

Take a look at the Understanding Overdrafts leaflet to see the fees and charges applicable to your current account. If you still think things aren't right, get in touch with us as soon as possible.

To change your arranged overdraft limit: