You'll be moved to one of our adult current accounts

FlexOne is our account designed for young people and can be held until you’re 23. Once you turn 23, your account will change to an adult account. This is part of the terms and conditions of the account.

If you're registered for Internet Banking and have a paperless preference, your account will change to a FlexDirect current account.

If you are not registered for Internet Banking or have a paper mailing preference, your account will change to a FlexAccount current account.

Important information about your PIN, payments and text alerts:

  • Your PIN, sort code and account number will remain the same.
  • You won't need to change your regular payments such as Direct Debits and standing orders. However, recurring Visa payments (e.g. subscription services where you use your card number to make a payment) won't automatically update.
  • Your new card will automatically update in Apple Pay and Google Pay.*
  • You'll still get text alerts, although these may change based on the account and overdraft use.

When your account changes you can add another account holder, and you can also have a cheque book with your new FlexDirect or FlexAccount. This can be ordered in the Internet Bank.

If you already hold a FlexAccount or a FlexDirect account, your FlexOne account will still change. Additionally, if you hold a FlexOne Regular Saver account, when your reach 23 this will mature into a Flexclusive Saver account.

If you weren't expecting your current account to change

We’ll write to you two months before your 23rd birthday to let you know about upcoming changes to your account. You should have had a letter or an email, but if you did not receive anything from us, please check that we hold the correct contact details for you. You can do this via the Internet Bank, Banking app, in branch or over the phone.

If you don’t want a FlexDirect or FlexAccount

Unfortunately you cannot change back to FlexOne once you have reached 23 as the account is no longer available beyond this age. If you’re unhappy with your new account, you can change to another one of our current accounts.

You can choose to close your FlexOne account at any time through the Internet Bank or at your local branch, or switch to another provider. Please note: if you switch to another provider you will have to pay back any outstanding overdraft balance.

When your FlexOne card stops working

Your FlexOne card will continue to work for 21 days after your 23rd birthday, or until your new card arrives in the post. If you have not received your new card, please get in touch with us on 0800 30 20 11, or you can request a new card in the Internet Bank.

Your arranged overdraft

If you have an arranged overdraft, both the limit and balance will be carried over to your new account and will be subject to fees and charges. 

If you’d like to know how much you will be charged for using the arranged overdraft on your new account, you can use our overdraft calculator to estimate how much you may be charged based on your current overdraft limit.

Changes to our FlexDirect interest rates

From the 1 May 2020 the interest we pay on our FlexDirect account is changing.

If we’ve written to you and told you that you'll be moving to a FlexDirect account on your 23rd birthday, please note the following:

  • If your 23rd birthday is before 1 July 2020, your account will change to a FlexDirect and, if eligible, you’ll benefit from the current rate of 5% AER (4.89% gross) p.a. fixed for the first 12 months on balances up to £2,500. After that, the new 0.25% AER (0.24% gross) variable rate will apply on your account on balances up to £1,500.
  • If your 23rd birthday is after 1st July 2020, your account will change to a FlexDirect and, if eligible, you’ll benefit from the new rate of 2% AER (1.98% gross) p.a. fixed for the first 12 months on balances up to £1,500. After that, the new 0.25% AER (0.24% gross) variable rate will apply on your account on balances up to £1,500.
  • If you decide to switch your account to FlexDirect before you turn 23 and before 1 May the changes we’re making to interest we pay on FlexDirect won’t have happened yet. This means you’ll benefit from the current rate of 5% fixed for 12 months on balances up to £2,500. After that, the new 0.25% AER (0.24% gross) variable rate will apply on your account on balances up to £1,500.
  • If you decide to switch your account to FlexDirect before you turn 23 but after 1 May then, if eligible, the new rate of 2% AER (1.98% gross) p.a. fixed for the first 12 months on balances up to £1,500 will apply. After that, the new 0.25% AER (0.24% gross) variable rate will apply on your account on balances up to £1,500.

To be eligible to receive credit interest you must pay into 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.

FlexDirect introductory offers

If your account is changing to FlexDirect, your arranged overdraft will remain fee-free for the first 12 months. After that, FlexDirect arranged overdrafts are 39.9% APR representative (variable).

To be eligible for the 12 month introductory offers, you must not have previously held a FlexDirect account and benefited from the introductory rate, unless you are opening a FlexDirect account in joint names and you haven’t previously held a FlexDirect account in those joint names.

What does AER, APR and Gross mean?

AER stands for 'Annual Equivalent Rate' and illustrates what the interest rate would be if interest were paid and compounded each year.

APR stands for 'Annual Percentage Rate'. It includes all the costs of borrowing including certain account fees and promotional rates. It’s for comparing costs between different products and providers.

Gross p.a. is the interest rate without tax deducted.

* Apple and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries. Google Pay is a trademark of Google LLC.