is the interest rate without tax deducted. We’ll check your circumstances before we make our decision. To see what charges we make for payments in other currencies and using your card abroad, see our using your cards abroad section . *If you’ve had a FlexDirect account before, it’s not possible to use this offer again. It's easy to apply for a new FlexDirect account. Nationwide adheres to The Standards of Lending Practice which are monitored and enforced by the LSB: Yes, I would like to take part in the website survey. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. It includes all the costs of borrowing including certain account fees and promotional rates. Find out more about the changes to the Personal Savings Allowance. Our online FlexDirect account pays 2% AER interest fixed for the first 12 months. On the last day of each month we calculate the interest you've earned each day of that month and then pay you this interest on the 1st day of the next month. The Nationwide Flex Direct account has 'simplified' overdraft charges, pays interest on balances in credit and unlocks access to other products. This site uses cookies and by using the site you are consenting to this. We’ll take a look at your circumstances to see what we can offer you. The Flex Regular Online Saver account pays 5% AER variable interest for 12 months and allows savers to save up to £250 a month. It’s for comparing costs between different products and providers. Nationwide Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 106078. If you’ve had a FlexDirect before, you won’t receive this offer again, unless your new FlexDirect account is in a different name or names. interest on balances up to £1,500 you’ll need to pay in £1,000 a month, not counting transfers from other Nationwide accounts or Visa credits. For example, you could earn the 2% rate on both an account in just your name, and on a joint account in your and your partner’s names. Find out more about the Nationwide FlexStudent current account, a student bank account with a flexible interest-free and fee-free overdraft. Gross p.a. At the moment, it also provides a fee-free overdraft of up to £250 and pays in-credit interest of 3% AER on small amounts. We'll pay the 2% rate on the first account you open in just your name. Over one year the Nationwide Plus account will save me paying £350 for insurance and breakdown cover separately, earn me £75 in interest and pay me £100 to switch. All in all, over two years the value of the benefits to me and my family mean I effectively get the Flex Plus for free – and I will be £710 better off. Based on an assumed arranged limit of £1,200 and an interest rate of 39.9% a year (variable). Check your interest rate Main content of page below To check the rate of interest you’re earning on your savings, log into the Internet Bank or Banking app. Nationwide has announced a major downgrade to its popular £13-a-month FlexPlus current account, leaving thousands of customers wondering whether … Nationwide also specifically offers a basic ‘cash card’ account which might be of interest to those with bad credit as long as they are not an undischarged bankrupt and not in an IVA (or Trust Deed in Scotland). Nationwide is not responsible for the content of external websites. 2% interest for the first 12 months - conditions apply. If you’re thinking about opening a FlexPlus account, make sure you read the Summary of Changes document as this will affect your cover.. From 1 January 2021, you’ll no longer be covered for cancelling your trip due to Covid 19 or a pandemic, before you travel, unless it is for medical reasons. Nationwide adheres to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk. You want a free account – there's no charges with a FlexOne account; You’d like to earn interest – you’ll get 0.1% AER / 0.09% gross p.a. Photograph: Danny Lawson/PA Lisa Bachelor If the account balance that we calculated interest on changes, then we may need to debit your account with an interest adjustment. Nationwide Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 106078. We pay interest without tax deducted. We have a credit card just for our members who hold a current account, mortgage or savings account with us. After that, you’ll get 0.25% AER (0.24% gross p.a) variable. With a simple set of overdraft fees and somewhere guaranteed for your savings, Nationwide FlexDirect pays 5% AER fixed for a year on £2,500, which would give you a maximum £122.25 interest. ** Available on selected Apple devices only and compatible Android devices using Android 4.4 and higher. Nationwide FlexDirect account: What's changing? You can get the 2% rate on more than one FlexDirect account as long as you haven’t opened accounts in that name or those joint names before. NATIONWIDE is currently offering current account customers the opportunity to earn two percent interest via FlexDirect. To earn 2% AER (1.98% gross p.a.) You choose the date, and we’ll let you know when it’s done. It’s a good idea to consider different types of borrowing. On the last day of each month we calculate the interest you've earned each day of that month and then pay you this interest on the 1st day of the next 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. 2% interest for the first 12 months - conditions apply. The APR shows the cost of borrowing as an annual rate. If I were to open a flex direct account in each name would it be possible to get 5% on £2500 in each account. Plus, if you want to share another account with someone else, we'll pay the 2% rate on the first joint account you open with them. If you’ve had a FlexDirect before, you won’t receive this offer again, unless your new FlexDirect account is … For past rates and charges, see our current account support section . Nationwide FlexPlus is our long-standing top-pick packaged bank account, offering travel and mobile phone insurance plus breakdown cover for a £13 monthly fee. If you're not sure what type of borrowing might suit you best, try our guide to the different types of borrowing. If you live in a country that's part of the European Union (EU) or European Economic Area (EEA), you can apply for one of our current accounts. Our website survey opens in a newwindow for you to complete once you'vefinished what you wanted to do. We pay interest without tax deducted. That's right, no monthly fee just for keeping your account with us! Nationwide's FlexDirect account comes with 2% interest on up to £1,500 - the highest interest rate on any current account - if you pay in at least … Nationwide's FlexDirect account comes with 2% interest on up to £1,500 - the highest interest rate on any current account - if you pay in at least … FlexDirect is based on a simple self-service concept. To help you understand the fees for this account, please read the Fee Information Document. From Friday 1 May onwards it'll pay new customers 2% interest – and only on smaller balances. We pay interest without tax deducted. Seamless – a dedicated team does it all for you. To help you understand the fees for this account, please read the Fee Information Document. Switch your current account to us in just 7 working days. You want to be in control – manage your money easily with our Banking app and Internet Bank. Britain’s largest building society has raised the interest it pays on its FlexDirect current account from 2 per cent to 5 per cent. This can be a massive bonus for anyone regularly overdrawn. Nationwide's FlexDirect account comes with 2% interest on up to £1,500 - the highest interest rate on any current account - if you pay in at least £1,000 each month, plus a … Like all the other banks, Nationwide increased the overdraft interest rate as part of the new rules. Nationwide Building Society is scrapping interest on its FlexPlus packaged current account Instead, a hefty overdraft rate of 39.9 per cent will be applied to all Nationwide current accounts. … Find out why we use cookies and how to manage your settings. That’s on every penny in your account up to £1,500 – 1.98% gross a year. Don’t worry, this won’t affect your credit score. - Select this to show/hide the search box, menu - reveals log in & registration links for Internet Banking, - Select this link to expand/collapse product menu choices, On the last day of each month we calculate the interest you've earned each day of that month and then pay you this interest on the 1st day of the next month. We’ll need to look at your circumstances first. Accounts which were applied for prior to May 1 … Nationwide is to cut the interest on its popular FlexDirect current account, in yet another blow to current account perks. Find out more about the changes to the, Yes, I would like to take part in the website survey. is the interest rate without tax deducted. The Building Society announced changes to the Nationwide FlexDirect account earlier this year. Guaranteed - there shouldn't be any problems but if there are, you won't lose a penny. Apple and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries. Note, this link will open in a new window or tab, No thanks, I would not like to take part in the website survey, Not sure FlexDirect is for you? If you’ve had a FlexDirect before, you won’t receive this offer again, unless your new FlexDirect account is in a different name or names. View all our current accounts, More about the Financial Services Compensation Scheme. Interest is calculated on the last day of each month and is paid on the first day of the next month. Certain account fees and promotional rates ’ s not possible to use this again... 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