FlexDirect
FlexDirect
Product Terms
These are the terms that apply to your FlexDirect account.
These Product Terms form part of our agreement with you, along with the Current Account
Terms and Conditions and any other documents we say apply.
If there are differences between the Current Account Terms and Conditions and these Product
Terms, you need to follow these Product Terms.
About this account
1. Monthly fee for having ✓ Free (no monthly fee).
this account
2. Managing this account FlexDirect is our self-service current account. This means that:
• You need to manage your FlexDirect account using Digital
Banking (through the Nationwide banking app or internet
bank) or over the phone, not in branch. But if the transaction
or service you want to use is not available, you can ask us in
person by visiting one of our branches.
• We’ll usually send you communications by email, through
Digital Banking (the Nationwide banking app and internet
bank) or by text.
3. Interest we pay you on e pay interest on money in your account up to £1,500.
✓W
this account But you’ll need to do certain things to get this, which we
explain below.
The interest rate we’ll pay you
✓W hen you open a FlexDirect account for the first time, you
can get 4.89% a year (5% AER) on balances up to £1,500.
This is an introductory rate, for the first 12 months of having
the account. This interest rate is fixed, so it won’t change for
those 12 months.
✓ After the first 12 months, you can get 0.99% a year (1% AER)
on balances up to £1,500. This is our standard interest rate.
It’s
AER variable,
stands so
foritAnnual
may change. See your
Equivalent [Link]
It showsAccount
what the
Terms
interestand Conditions
rate would befor when wewas
if interest might
paiddo this.
and added each
year. It helps you compare accounts.
✗ We don’t pay interest on any balances over £1,500.
1
What you need to do to get these interest rates
! You can only get interest if you pay in at least £1,000 a
month. This doesn’t include money you transfer from other
Nationwide accounts or refunds on payments made with
your card.
! If you’re opening an individual FlexDirect account, you won’t
receive interest at our introductory rate if you’ve had it
before - you’ll get the standard interest rate. But if you’re
opening a joint account, you can get the introductory rate
even if you’ve previously had an individual or a joint FlexDirect
account. The person you’re opening the new account with just
needs to be different to anyone you’ve had a FlexDirect joint
account with before.
How we calculate and pay interest
The amount of interest we pay you is based on the balance of
your account at the end of each day. We work out your interest
on the last day of each month. We then pay it into your account
on the first day of the next month.
We pay interest without taking off tax – we call this a ‘gross
interest rate’.
Making payments
4. Paying in a foreign Foreign currency Foreign exchange
currency with transaction fee rate information
your card
Card payments 2.99% of the Retailers or cash
in a foreign payment amount. machine providers may
currency have their own charges.
Taking out cash 2.99% of the For more information
in a foreign payment amount. about paying in a
currency in If you take out cash foreign currency
the UK in a foreign currency with your card, see
from a LINK cash the Current Account
machine or over Terms and Conditions.
the counter this fee You can also visit our
won’t apply. website at
[Link]/
Taking out cash 2.99% of the
currency-conversion
in a foreign payment amount.
currency
outside the UK
2
5. Charges for making £15 transaction fee to send large value payments to someone in
other payments the UK. This is called a CHAPS payment.
£15 transaction fee to send money outside of the UK, or in the
UK in a foreign currency. This is called a SWIFT payment. This
charge won’t apply if you’re sending money in Euros to the UK or
an EEA country.
You can find out more about these types of payments at
[Link]/payments
Our FlexDirect Product Terms
have received the Fairer Finance
Clear & Simple Mark.
3
C003270
You can receive this document, and others like it, in Braille, large
print or on audio CD.
Just call 03457 30 20 11 or visit your local branch if you would
like us to arrange this for you.
If you have hearing or speech difficulties:
• You can use Text Relay if you have a textphone. Dial 18001,
followed by the phone number you want to ring
• SignVideo is also available if you’re deaf and use British Sign
[Link] visit [Link]
To find out about other ways we may be able to help, search
‘accessibility tools’ on [Link]
Nationwide Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial
Conduct Authority and the Prudential Regulation Authority under registration no 106078.
You can confirm our registration on the FCA’s website, [Link]
Nationwide Building Society. Head Office: Nationwide House, Pipers Way, Swindon, Wiltshire SN38 1NW.
P4413 (May 2025)
4
