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 £13/month for a full bundle of travel insurance, breakdown cover, and mobile phone insurance. Here’s every fee explained.
Nationwide Account Fees at a Glance
| Account | Monthly fee | In-credit interest | Overdraft rate |
|---|---|---|---|
| FlexAccount | Free | None | 39.9% EAR |
| FlexDirect | Free | 5% AER (year 1, up to £1,500) | Fee-free year 1; 39.9% EAR after |
| FlexPlus | £13/month | None | 39.9% EAR |
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 on balances up to £1,500 for the first 12 months — the highest in-credit rate from any mainstream UK current account.
- No monthly fee
- 5% AER on up to £1,500 for year 1 (reverts to a lower rate after 12 months)
- Fee-free overdraft for the first 12 months — 39.9% EAR after that
- 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 — roughly the value of a switching bonus, without needing to switch bank.
FlexPlus — Packaged Account at £13/Month
FlexPlus is Nationwide’s packaged current account. For £13/month, it includes:
| Benefit | Detail |
|---|---|
| Worldwide travel insurance | Single or multi-trip; family included |
| UK and European breakdown cover | RAC-backed; roadside, home start, recovery |
| Mobile phone insurance | Loss, theft, accidental damage (up to £1,500/year) |
| No Nationwide foreign transaction fees | 0% on overseas card and ATM use |
| Car hire excess cover | Up to £50,000 included |
Value comparison: Travel insurance alone (family, worldwide) typically costs £60–£120 per year. Breakdown cover typically adds £50–£100. Mobile phone insurance typically £10–£15/month. Together, these often exceed the £156/year FlexPlus costs — making it strong value for customers who use these benefits.
Overdraft Charges
Nationwide charges 39.9% EAR on arranged overdrafts (excluding FlexDirect’s fee-free first year):
| Bank | Arranged overdraft EAR | Interest-free buffer |
|---|---|---|
| Nationwide FlexAccount | 39.9% | None |
| Nationwide FlexDirect | 0% (year 1), 39.9% after | £0 (but free for 12 months) |
| First Direct | 39.9% | £250 |
| Barclays | 35.0% | None |
| NatWest | 39.49% | None |
Cost example: £300 overdrawn for 30 days on FlexAccount at 39.9% EAR costs approximately £10. 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 |
FlexPlus is an excellent choice for travellers. At £13/month (£156/year), you only need to spend roughly £5,200 abroad at 2.99% to recover the fee in savings — achievable in a single holiday.
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 |