Account opening criteria
High Interest, Package, Reward & Standard current accounts
- You must be 18 years of age or older
- You must not have been declared Bankrupt or have registered for an Individual Voluntary Agreement within the last six years or be in the process of doing so (Does not apply to M&S Bank)
- You are a UK resident
Student accounts
- You’re aged 18 years or over
- You’ve been accepted onto a full-time UCAS course at a UK institution for at least 2 years
- You don’t already have a student account with another Banking institution
Children’s accounts
- You must be aged between 11 and 18 years old
- You must be living permanently in the UK
Credit building
- You must be aged 18 or over to apply
- You must have a residential address in the UK
Before applying, please always check each banks specific opening criteria on their website.
Customer Service
This is based on a scoring system we developed using data from MoneySavingExpert’s twice-yearly Current Account customer service polls.
An easy switching process
We guarantee a smooth switch.
All you need to do is:
- Open your new current account
- Pick a switch date
- Let your new bank or building society do the rest
A smooth switch for you
The Current Account Switch Service makes switching your current account simple, reliable and stress-free. Over 4 million current accounts have been switched so far.
The Current Account Switch Guarantee means that your new bank takes care of closing your old account, moving your balance and switching your payments.
So you don't need to worry.
Start using your new account
On your agreed switch date your new account will be ready to use and your old account will be closed. Your new bank will have transferred all of your regular incoming payments (such as your salary or benefits) and outgoing payments (such as Direct Debits, standing orders, future dated payments and bill payments) to your new account, along with any remaining credit balance. Your saved Payee details will also be transferred over.
Note: future dated payments set up within 7 working days of your switch date cannot be transferred across to your new account.
Need to knows
- 1. Check you're able to switch
The Current Account Switch Service covers 99% of UK current accounts. The process is the same everywhere so you can feel confident when you switch, no matter which participating bank or building society you choose.
- HOWEVER YOU CAN'T SWITCH WITH:
- A joint account without the permission of both parties
- Saving accounts
- ISAs
- Non-sterling payment accounts.
- 2. Check you're eligible
Common eligibility examples include having a minimum number of Direct Debits, and a set amount entering the account each month. You'll also need to agree any overdraft facilities you require with them before initiating the switch (subject to eligibility status).
Just in case if anything has gone wrong
In the unlikely event that anything goes wrong, your new bank or building society guarantees to refund any interest and charges you incur as a result of a delayed or incorrect switch. It's all part of the Current Account Switch Guarantee.
In credit interest + interest free arranged overdraft for 12 months
FlexDirect Current Account
Reward
Other perks
Interest
AER interest on in-credit balances between and up to
Overdraft
Representative example and Need-to-knows
Travel, Mobile and Breakdown cover plus commission-free cash withdrawals and card payments abroad
FlexPlus Current Account
Reward
Other perks
Interest
AER interest on in-credit balances between and up to
Overdraft
Representative example and Need-to-knows
Freedom to bank online, over the phone or in branch
FlexAccount Current Account
Reward
Other perks
Interest
AER interest on in-credit balances between and up to
Overdraft
Representative example and Need-to-knows
What types of current account does Nationwide offer?
Nationwide offer six different current accounts depending on your situation and what you need:
- FlexAccount – their everyday current account
- FlexBasic – a stripped back account designed for people ineligible for other accounts
- FlexPlus – an account that comes with benefits and incentives, though at a monthly fee
- FlexDirect – a current account that offers a competitive interest rate on your balance
- FlexStudent – a student account that comes with no fees attached
- FlexOne – an account designed for children aged 11-17
What features do Nationwide current accounts have?
Being a Nationwide current account holder can give you access to the following features:
Overdraft. Most current accounts provided by Nationwide offer an overdraft facility. However the specific details of your overdraft will depend on the type of account you choose – for example, the fee you pay for being overdrawn.
Rewards. You’ll also be eligible for a number of benefits, including:
- Preferential rates: you can also get better rates on the Flexclusive ISA and Flex Regular Online Saver accounts, as well as a lower rate on personal loans and access to their Loyalty Price Promise.
- Credit card: another benefit included for current account holders is their exclusive Select Credit Card at a competitive APR (representative).
- Simply rewards: Nationwide also offer a rewards scheme that offers cashback tailored to match your own shopping habits, from highly known brands. These are updated regularly, and you won’t need to collect points or print off vouchers.
However FlexAccount holders will either have to pay a certain amount in each month for three months, or have switched over from non-Nationwide account in the last four months.
Nationwide offer a variety of current accounts, therefore the exact features depend on which type you choose. For example, Nationwide’s FlexPlus offers a wider selection of rewards, while the FlexBasic and FlexOne have a limited range of features as they are for low/no-credit applicants and children respectively.
Nationwide credentials
Nationwide is entered in the Financial Services Register, and is authorised by the Financial Conduct Authority.
Why you should compare current accounts
Current accounts are what most people generally use for their day-to-day banking, so finding the right account is important. If you compare current accounts with MoneySuperMarket, you’ll be able to see what each provider offers, from their overdraft facilities and charges to their customer rating and ways you can access your account.
When you’ve chosen which account you want to open, you can switch over easily with the Current Account Switch Service – which guarantees that the switching process will be finished within seven working days. It also includes transferring your incoming and outgoing payments automatically, including standing orders, direct, debits, and your wage or salary.
It will all be handled by the bank or building society you’re moving to, so if there are any problems they’ll be taken care of. This includes any penalty charges involved in the switch process, as well as redirecting payments that still go to your old account – however this only applies for the first 36 months you’re with the new provider.
At the moment we are unable to show you any current accounts from Barclays. Please return to our current accounts page to see our wide selection of account providers, or see more current accounts below.
