Part of our Nationwide Building Society UK — Complete Guide 2026 hub.
Nationwide’s two main current accounts — FlexAccount and FlexDirect — are free, while FlexPlus charges £18/month (up from £13/month before a December 2024 price rise) for a bundle of travel insurance, breakdown cover, and mobile phone insurance. Here’s every fee explained, verified against Nationwide’s current published terms.
Nationwide Account Fees at a Glance
| Account | Monthly fee | In-credit interest | Overdraft rate |
|---|---|---|---|
| FlexAccount | Free | None | 39.9% EAR (first £50 interest-free) |
| FlexDirect | Free | 5% AER (year 1, up to £1,500; 1% AER after) | Fee-free year 1; 39.9% EAR after (first £50 always interest-free) |
| FlexPlus | £18/month | None advertised | 39.9% EAR (first £50 interest-free) |
FlexAccount — Free Current Account
FlexAccount is Nationwide’s standard free current account with no pay-in requirement. Key features:
- No monthly fee
- No minimum pay-in threshold
- Nationwide cashback at selected retailers via its Banking with Benefits scheme
- Debit card for online and in-store payments
- Access to the Nationwide app and Internet Bank
- 24/7 UK customer service on 03457 30 20 11
Foreign transaction fees: 2.99% on all overseas card and ATM use.
FlexDirect — Free Account with Interest
FlexDirect is a free account that pays 5% AER (4.89% gross) on balances up to £1,500 for the first 12 months — one of the highest in-credit rates of any mainstream UK current account. After 12 months, the rate drops to 1% AER (variable).
- No monthly fee
- 5% AER on up to £1,500 for year 1, falling to 1% AER after
- Fee-free overdraft for the first 12 months — 39.9% EAR after that (with no interest on the first £50 borrowed)
- Requires pay-in of at least £1,000/month to access the 5% rate
- Good option for switching bonus seekers or those maintaining a consistent balance
At 5% AER on £1,500, the first-year interest works out to approximately £75 (before tax) — roughly the value of a switching bonus, without needing to switch bank. After year one, the same £1,500 balance would earn only around £15 a year at the 1% ongoing rate.
FlexPlus — Packaged Account at £18/Month
FlexPlus is Nationwide’s packaged current account. Its price rose from £13 to £18/month in December 2024. For £18/month (£216/year), it includes:
| Benefit | Detail |
|---|---|
| Worldwide travel insurance | Family cover for trips up to 31 days, via Aviva; includes winter sports and travel disruption |
| UK and European breakdown cover | AA-backed; roadside, home start, recovery |
| Mobile phone insurance | Loss, theft, accidental damage, via Assurant |
| No Nationwide foreign transaction fees | 0% on overseas card and ATM use |
Value comparison: Travel insurance alone (family, worldwide) typically costs £60–£150 per year. Breakdown cover typically adds £40–£90. Mobile phone insurance typically £60–£180/year. Together, these can exceed the £216/year FlexPlus now costs — but the margin is narrower than it was at the old £13/month price, so it’s worth checking you’ll actually use the benefits. Always confirm current pricing and terms at nationwide.co.uk before applying, as this is a fee that has changed before.
Overdraft Charges
Nationwide charges 39.9% EAR on arranged overdrafts (excluding FlexDirect’s fee-free first year), but there’s no interest on the first £50 borrowed on any of the three accounts:
| Bank | Arranged overdraft EAR | Interest-free buffer |
|---|---|---|
| Nationwide FlexAccount | 39.9% | First £50 |
| Nationwide FlexDirect | 0% (year 1), 39.9% after | First £50 (always); fee-free entirely in year 1 |
| Nationwide FlexPlus | 39.9% | First £50 |
| First Direct | 39.9% | £250 |
| Barclays | 35.0% | None |
Cost example: £300 overdrawn for 30 days on FlexAccount at 39.9% EAR, with interest only charged on the £250 above the £50 buffer, costs approximately £8. For occasional small overdrafts, the annual cost is modest.
Foreign Transaction Fees
| Account | Foreign card fee | Foreign ATM fee |
|---|---|---|
| FlexAccount | 2.99% | 2.99% |
| FlexDirect | 2.99% | 2.99% |
| FlexPlus | Free | Free |
At £18/month (£216/year), you’d need to spend roughly £7,225 abroad at 2.99% to recover the FlexPlus fee through avoided foreign transaction charges alone — more than most people spend on a single holiday. In practice, the case for FlexPlus rests on the bundled travel, phone, and breakdown insurance rather than foreign-fee savings alone.
Payment Fees
| Payment type | Fee |
|---|---|
| Faster Payments | Free |
| Standing orders | Free |
| Direct debits | Free |
| CHAPS (outgoing) | Fee applies — check current rate |
| International transfer | Fee applies |
| UK ATM withdrawals | Free |