Coronavirus (COVID-19) and travel insurance

FlexPlus travel insurance has changed as a result of the coronavirus pandemic. If you’re thinking about opening a FlexPlus account, make sure you read the Summary of Changes document as this forms part of your policy.

You're no longer covered for cancelling your trip due to COVID-19 or a pandemic, before you travel, unless it is for medical reasons. This applies to all trips booked, or new accounts opened, on or after 1 January 2021.

If you bought a travel insurance upgrade and haven't been able to use it due to the coronavirus, you may be able to get a refund.

For more information about travel insurance during coronavirus, including information about refunds for upgrades, read our travel and coronavirus information page.

Applying for a FlexPlus account is quick and easy

Our FlexPlus current account comes with some great benefits, including a range of insurances. Cover will be in place as soon as the account is opened for Worldwide Family Travel Insurance, Worldwide Mobile Phone Insurance and UK & European Breakdown Recovery Assistance.

Living outside of the UK? If you live outside the UK, you'll not be able to use the insurance benefits that come with the account as these are only available to UK residents. You will still have to pay the monthly account fee, so please consider whether FlexPlus is the right account for you.

Already got a FlexPlus account? You can apply for another one, but you’ll be charged the £13 monthly fee for both accounts and you may not gain any extra benefits by having more than one.

Borrowing with your current account

When we ask for your 'annual income before tax', please tell us the new amount if your income:

  • has changed due to COVID-19
  • is likely to reduce in the next 2 years (for example, if you're retiring).
Arranged overdrafts
  • Your arranged overdraft limit is agreed with us in advance.
  • Designed for short-term borrowing.
  • We charge an interest rate - only on the amount you use, when you use it. Our online overdrafts calculator can show you how much an arranged overdraft might cost.
  • We’ll give you 28 days’ notice before charges are applied to your account.
  • You can find out how much you can borrow without affecting your credit score. Either with our eligibility tool, or in the online application screens before you open the account.
  • Remove or decrease your limit at any time, or apply to increase it, in our Banking app, Internet Bank or in our branches.
  • You must pay back your arranged overdraft before you ask us to remove it.
  • Increasing your limit often can be bad for your credit score.
Unarranged overdrafts
  • This is borrowing that’s not agreed with us in advance.
  • We don’t offer unarranged overdrafts at Nationwide. Instead, we’ll try to stop any payments from coming out of your account if you don’t have enough money.
  • No charges apply if you do go into an unarranged overdraft. But you will not be able to withdraw cash or transfer money until your account balance is back in credit or within its limit.
  • Can be bad for your credit score.
Text alerts to help you manage your borrowing
  • Text alerts will be sent to your mobile, unless you’ve opted out.
  • They may help you to avoid charges by giving you time to pay in money.
  • Arranged overdraft alerts - tell you when you enter, or are about to enter, your arranged overdraft. To opt out, text: STOP ARRANGED to 65037.
  • Unarranged overdraft alerts - tell you when you enter an unarranged overdraft. To opt out, text: STOP UNARRANGED to 65037.
  • Retry alerts - let you know a scheduled payment has failed, and will be retried later that day. To opt out text STOP to 65180.
  • You can opt back into text alerts in any of our branches.
  • You can also opt into alerts for high balance, low balance and statements using our Banking app and Internet Bank.

Before you apply

Please think carefully if applying for an overdraft is the right option for you at this time. Other borrowing options may better suit your circumstances.

To apply, you’ll need to be confident you’ll be able to repay whatever you borrow. Be aware that changes to your income may affect your ability to repay.

When you open a current account with us, we need to let you know about our most recent summary financial statement and auditors' report. These are published on our website. The summary financial statement shows a summary of our accounts, you can access it by navigating to the 'Summary Financial Statement' page in our Review of the Year. You can also view our Review of the Year and latest full annual report and accounts, which contains our auditors' report, by navigating to our 'Results and Accounts' page and selecting the relevant year.

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