The FlexAccount is a UK personal current bank account from the Nationwide Building Society. The account can come with a variety of cards and facilities ranging from a basic account with cash card+ (which is an ‘online only’ Visa branded debit card similar to the old Visa Electron type) through to a fully featured account with full Visa debit card, chequebook and overdraft.
The account is available to over 16s and the stripped down basic version may be suitable for those who are not able to obtain the full version of the account because of some adverse credit. This is the one that will most likely be offered to those who apply who are in that situation. 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).
What Nationwide FlexAccount offers:
- A personal bank account for UK residents that can come in a basic form.
- Basic form of FlexAccount with Visa Debit branded cash card+ is available to those with adverse credit.
- UK’s largest Building Society with almost 700 branches in the UK.
- Visa Debit branded cash card+ can be used at UK ATMs, online, on the phone and at point-of-sale terminals. It is an ‘online only’ Visa debit card meaning that for a transaction to be successful the account must be accessed and checked in real time to see if there are sufficient funds available. A normal full Visa Debit card can be used offline, meaning no real time check on funds and therefore some trust is required, which is why an application for a fully featured Visa Debit card is usually credit checked.
- Bank by phone and online.
- Mobile banking with phone app.
- Standing Orders and Direct Debits.
- Pay in salary or other regular income.
- Deposit cheques and cash using the card at any Nationwide branch counter or branch cash machine.
- Ability to withdraw up to £300 per day in cash from an ATM. ATM must be located in the UK if using the cash card+. No fees are payable when withdrawing cash from Nationwide ATMs. Withdrawals from Visa/PLUS ATMs in the UK may incur a fee.
- Withdraw up to £500 cash a day from a Nationwide branch (subject to available funds). Those receiving the cash card+ with the account must withdraw a minimum of £100 when using the branch counter service.
- Free cash withdrawals of up to £300 at Post Offices where balance enquiries can also be obtained (no other Nationwide services e.g. cash/cheque deposits are available at Post Offices).
- Paper or online statements.
- No monthly fees charged.
- The account has no charges when run responsibly.
- No overdrafts are available and there is no cheque book with the basic version of the FlexAccount.
- No interest is paid.
- Those who receive the basic version of this account and are issued with the cash card+ can’t make a request for a mini statement or balance enquiry at a Nationwide branch counter. It must be done using an ATM (Nationwide cash machines only), their telephone service or online.
- Cannot use cash card+ at foreign ATMs.
- No CIFAS fraud flags are allowed.
- Undischarged bankrupts or anyone with an IVA (individual voluntary arrangement) cannot open an account.
- An ‘unpaid item charge’ is payable if the payment of a Direct Debit or Standing Order cannot be made due to there being insufficient funds to cover it.
Proof of ID and address is required.
Some of the fees for this Nationwide FlexAccount basic account include:
Unpaid item charge £15 per item.
Counter draft £10.
UK/overseas electronic transfers £25.
Non-Sterling transaction fee (incl. cash withdrawals/card payments) 2%.
Click on button below to go to Nationwide FlexAccount account page.