Account nameFlexAccount
Eligible for Member Credit Card.
ProviderNationwide BS
Account fee£0
ATM withdrawal limit£500
Debit networkVisa
Card typeCash / Debit
Minimum eligibility age18 Years
Minimum operating balance£0
Minimum opening balance£1
Direct debits
Current account switch guarantee
Cheque Book

Nationwide is the largest building society in the world and has over 15 million members. It offers a wide range of financial products, including mortgages, savings, investments, loans, credit cards and current accounts.

This review looks at the Nationwide FlexAccount current account in detail.

What is the Nationwide FlexAccount current account?

The Nationwide FlexAccount is an everyday bank account with no monthly fee. You can pay in money and access your funds at any time, and you can opt to have an arranged overdraft on the account if you wish.

The account can be opened on an individual or joint basis and can be managed online, via the app, over the phone or in branch.

How does it work?

The Nationwide FlexAccount offers the following key features:

  • No monthly fee. There’s no fee charged for maintaining the account.
  • Optional savings account. When you apply for your current account online, a savings account can be opened for you at the same time.
  • Exclusive access to other products. You’ll also get access to exclusive savings accounts such as the Flex Regular Saver which pays 2.50% AER for 12 months. You’ll need to pay in up to £200 each month.
  • Arranged overdraft. You can apply for an arranged overdraft at any time. Interest is charged at 39.9% EAR.
  • Text alerts. Set your text alert preferences to help you manage your money.
  • Optional cheque book. You can request a cheque book if you need one.

Who is it for?

The Nationwide FlexAccount could be suitable for anyone requiring an everyday bank account that won’t charge a maintenance fee.

To qualify, you must be aged 18 or over and a UK resident and you must hold no more than 4 existing sole or joint Nationwide current accounts.

What are the benefits?

The main benefit of the Nationwide FlexAccount is that there’s no monthly maintenance fee to pay. It could also help you to get into the savings habit as Nationwide can open a savings account for you at the same time as your current account, and you’ll get exclusive access to some accounts.

How to apply

If you’re already a Nationwide customer, the fastest way to apply for the FlexAccount is to log in to Internet banking. If not, you can apply for the account online or over the phone.

To open your account, you’ll need:

  • Your address history for the past 3 years
  • Your employer’s address (if you’re employed)
  • A valid UK passport or driving licence

If you don’t have a passport or driving licence you may need to go into a branch with your ID.

Is it safe?

Yes, Nationwide is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. This means eligible deposits will be protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person (up to £170,000 for joint accounts).

Pros and cons of the Nationwide FlexAccount


  • No monthly fee
  • Arranged overdraft available
  • Access to exclusive products
  • Easy to apply for
  • FSCS protection


  • Interest charged on overdrafts
  • No interest paid on balances
  • Limited account features

Our verdict

Nationwide’s FlexAccount is a hassle-free everyday bank account with no monthly fee. If that’s what you’re after, then this account is certainly worth a look, particularly as you’ll also get access to exclusive savings products.

However, if you’re looking for something a little more innovative or you’re after an account that also offers rewards, this won’t be the account for you and you’ll need to look elsewhere.

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