Nationwide Review 2026: Current Accounts, Savings & Mortgages

Nationwide Building Society is the UK’s largest building society and a major alternative to traditional banks. But is it worth choosing over high street banks or digital challengers? This review covers everything you need to know.

Nationwide at a Glance

Feature	Details
Type	Building society (mutual)
Founded	1846
Customers	16+ million
Branches	600+ UK branches
Regulation	FCA & PRA regulated
FSCS Protection	Up to £85,000
Mobile App	iOS and Android

What Makes Nationwide Different?

As a building society, Nationwide is owned by its members (customers), not shareholders. This means:

No shareholders to pay - Profits go back into the business or member benefits
Often better rates - Competitive savings rates and mortgage deals
Community focus - Commitment to keeping branches open
Member services - Voting rights on key decisions

Nationwide Current Accounts

FlexDirect

Nationwide’s flagship account for new customers.

Feature	Details
Monthly fee	£0
In-credit interest	1% AER on up to £1,500 (year 1)
After year 1	Standard FlexAccount (no interest)
Overdraft	0% arranged for first year, then 39.9% EAR
Cashback	None
Switching bonus	Often available (check current offers)

Best for: New customers who want first-year benefits

FlexPlus

Nationwide’s premium packaged account with insurance.

Feature	Details
Monthly fee	£13
Worldwide travel insurance	Included (family cover)
Mobile phone insurance	Included (up to £1,500)
Breakdown cover	Included (RAC cover)
Overdraft	39.9% EAR (variable)
Purchase protection	90 days, £1,500 per item

Value calculation: Travel insurance + phone insurance + breakdown cover separately would cost £300-500/year. At £156/year, FlexPlus can be excellent value if you’d use these benefits.

Best for: Families who travel and want bundled insurance

FlexAccount

The basic everyday account.

Feature	Details
Monthly fee	£0
In-credit interest	0%
Overdraft	39.9% EAR (variable)
Features	Standard current account

Best for: Those who just need a simple bank account

Nationwide Current Account Comparison

Feature	FlexDirect	FlexPlus	FlexAccount
Monthly fee	£0	£13	£0
Credit interest	1% (year 1)	0%	0%
Travel insurance	❌	✅	❌
Phone insurance	❌	✅	❌
Breakdown cover	❌	✅	❌
Free 0% overdraft	First year	❌	❌

Nationwide Savings Accounts

Easy Access Savings

Account	Interest Rate	Access	Minimum
Flex Regular Saver	6.5% AER (variable)	Limited (see below)	£1/month
Flex Instant Saver	~2.5% AER (variable)	Unlimited	£1
Triple Access Saver	~3.0% AER (variable)	3 withdrawals/year	£1

Flex Regular Saver offers one of the best regular savings rates in the UK but is only available to current account holders. You can save £1-200/month.

Fixed Rate Savings

Term	Typical Rate	Minimum	Access
1 Year Fixed	~4.5% AER	£1	None until maturity
2 Year Fixed	~4.3% AER	£1	None until maturity
3 Year Fixed	~4.0% AER	£1	None until maturity

Rates are illustrative - check current rates as they change frequently

Cash ISA

Account	Interest Rate	Access
Flex ISA	~3.5% AER (variable)	Unlimited
Fixed Rate ISA	~4.2-4.5% AER	Fixed term
Junior ISA	~3.5% AER (variable)	Age 18

Member-Exclusive Savings

Nationwide occasionally launches member-exclusive savings products with enhanced rates. You typically need to hold a current account to access these.

Nationwide Mortgages

Nationwide is a major mortgage lender with often-competitive rates.

Mortgage Products

Type	Availability
First-time buyer	✅ (often competitive)
Home mover	✅
Remortgage	✅
Buy-to-let	✅
Shared ownership	✅
Self-employed	✅ (2 years accounts)

Nationwide Mortgage Features

Helping Hand mortgages - 5.5x income for first-time buyers
Cashback offers - Often available on selected products
Fee-free options - Range of no-fee mortgages
Existing member rates - Better rates for current account holders
Overpayment - Up to 10% per year penalty-free
Portable - Can take mortgage to new property

Mortgage Lending Criteria

Criteria	Requirement
Minimum deposit	5% (some products)
Maximum LTV	95%
Maximum loan	£2 million
Minimum age	18
Self-employed	2 years accounts
Income multiple	Up to 5.5x (first-time buyers)

Nationwide Credit Cards

Card	Key Feature
Nationwide Select	0% on purchases (limited time)
Balance Transfer	Extended 0% period
Cashback	Up to 0.5% cashback

Nationwide credit cards are competitive but not market-leading. Worth considering if you bank with them for convenience.

Nationwide Loans

Feature	Details
Loan amounts	£1,000 - £50,000
Terms	1-7 years
Representative APR	From 6.9% (rate depends on amount and term)
Member rates	Often better for existing customers

Nationwide Mobile App & Online Banking

App Features

View accounts and transactions
Make payments and transfers
Mobile cheque deposit
Card controls (freeze/unfreeze)
Spending insights
Push notifications
Biometric login (Face ID/fingerprint)

App Rating

The Nationwide app has improved significantly and is now competitive with major banks, though not quite as feature-rich as digital banks like Monzo or Starling.

Platform	Rating
iOS	4.7/5
Android	4.5/5

Online Banking

Full-featured online banking with:

Account management
Statement downloads
Direct debit management
Standing orders
International payments

Nationwide Branches

Unlike many banks closing branches, Nationwide has committed to keeping branches open in towns where it’s the last bank standing. With 600+ branches, it offers better physical accessibility than most competitors.

Branch services:

Cash and cheque deposits
Face-to-face account support
Mortgage appointments
Complex transactions

Nationwide Pros

✅ Mutual ownership - Customer-focused, not profit-driven

✅ Branch network - 600+ branches, commitment to staying open

✅ Competitive savings - Regular saver at 6.5%, good fixed rates

✅ Strong mortgages - Often competitive rates, Helping Hand for FTBs

✅ FlexPlus value - Excellent if you use the insurance benefits

✅ Ethical approach - No investment in controversial industries

✅ Good app - Modern, functional mobile banking

✅ FSCS protected - £85,000 protection as with banks

Nationwide Cons

❌ No credit interest (standard accounts) - FlexDirect only for year 1

❌ 39.9% overdraft rate - Higher than some competitors

❌ Basic cashback - No significant rewards programme

❌ App not cutting-edge - Good but behind Monzo/Starling

❌ Limited international features - No built-in currency accounts

❌ FlexPlus fee - £13/month adds up if you don’t use benefits

Who Is Nationwide Best For?

Ideal for:

Those who value branches - 600+ locations nationwide
FlexPlus users - If you’ll use travel, phone, and breakdown cover
First-time buyers - Competitive mortgages and Helping Hand scheme
Savers - Regular saver and fixed rates often market-leading
Ethical banking preference - Mutual ownership model

Less suitable for:

Heavy overdraft users - 39.9% rate is costly
International travellers - Limited foreign currency features
App-first users - Digital banks offer more features
Rewards seekers - No significant cashback or perks

Nationwide vs Competitors

Nationwide vs High Street Banks

Feature	Nationwide	Barclays	Lloyds	NatWest
Type	Building society	Bank	Bank	Bank
Branches	600+	400+	700+	400+
Current account interest	1% (yr 1)	None	None	None
Regular saver	6.5%	~5%	~5%	~5%
Overdraft rate	39.9%	35.0%	39.9%	39.5%

Nationwide vs Digital Banks

Feature	Nationwide	Monzo	Starling
Free current account	✅	✅	✅
Branches	600+	None	None
App quality	Good	Excellent	Excellent
Pots/Spaces	❌	✅	✅
Instant notifications	✅	✅	✅
Travel spending	Standard	No fees abroad	No fees abroad
Savings rates	Competitive	Good	Good

How to Open a Nationwide Account

Online: Apply via nationwide.co.uk (10-15 minutes)
In branch: Visit any Nationwide branch with ID
By phone: Call to start application

Documents needed:

Proof of ID (passport/driving licence)
Proof of address (recent utility bill/bank statement)
National Insurance number

Switching to Nationwide

Nationwide participates in the Current Account Switch Service (CASS):

Switch completed in 7 working days
All direct debits and standing orders moved automatically
Incoming payments redirected for 3 years
Switch guarantee protects against errors

Check for current switching bonuses - Nationwide often offers cash incentives.

Is Nationwide Worth It?

Verdict: Nationwide offers a compelling alternative to traditional banks, particularly for those who value branches, competitive savings rates, and ethical banking. FlexPlus is excellent value for families who travel, and the mortgages are often market-leading.

The main drawbacks are the costly overdraft and lack of cutting-edge digital features. If you rarely use branches and want the best app experience, Monzo or Starling may suit better. But for a well-rounded provider with great savings and mortgages, Nationwide is hard to beat.

Rating: 4/5 stars

Frequently Asked Questions

Is Nationwide a bank or building society?

Nationwide is a building society, which means it’s owned by its members (customers) rather than shareholders. This often translates to better rates and customer-focused decisions. Your money is still FSCS protected up to £85,000, the same as with banks.

Is FlexPlus worth the £13 monthly fee?

FlexPlus is worth it if you’ll use the included benefits: worldwide family travel insurance, mobile phone insurance (up to £1,500), and RAC breakdown cover. Separately, these would cost £300-500/year. At £156/year, FlexPlus is good value for families who travel. If you won’t use these benefits, stick with a free account.

What's the best Nationwide savings account?

The Flex Regular Saver (6.5% AER) is one of the UK’s best regular savings rates, but you need a current account and can only save up to £200/month. For larger sums, their fixed rate bonds are often competitive. Always compare with best buy tables as rates change frequently.

Can I use Nationwide abroad?

Yes, but standard Nationwide cards charge fees abroad. The Nationwide debit card typically charges 2.99% for non-sterling transactions. FlexPlus includes worldwide travel insurance but still has spending fees. For fee-free spending abroad, consider a travel-friendly card like Starling or Wise.

Does Nationwide have a good app?

Nationwide’s app has improved significantly and is now solid - you can do most banking tasks, deposit cheques, freeze cards, and see spending insights. However, it’s not as feature-rich as digital-first banks like Monzo or Starling. If cutting-edge app features are important, you may want a digital bank alongside Nationwide.

Are Nationwide mortgages good?

Nationwide is often competitive for mortgages, especially for first-time buyers with their Helping Hand scheme (lending up to 5.5x income). They also offer loyalty rates for existing customers. It’s always worth comparing with other lenders, but Nationwide should be on your shortlist.

FSCS protects eligible deposits up to £85,000. This is not financial advice.