An overdraft is designed to help with short term borrowing. For longer term borrowing, other credit options may be more suitable. There are two types of overdraft: Arranged overdraft – we and you agree in advance that you may borrow money when there is no money left in your account.
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You can apply for, change or remove an arranged overdraft and your arranged overdraft limit on your Nationwide current account: in the Internet Bank. on our Banking app. by phone, if you've not been able to manage your arranged overdraft online.
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With the Nationwide overdraft calculator, you can see how much an arranged overdraft costs and its interest rates. Calculate overdraft charges to find out more.
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Received a letter about repeat use or persistent debt? These patterns of borrowing on your arranged overdraft or credit card are expensive and may lead to financial difficulty. These tips for managing your borrowing effectively can help.
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Features and benefits. One simple rate of interest. Whether you have a FlexPlus, FlexDirect or FlexAccount, the interest rate is 39.9% a year compounded (variable). No additional overdraft fees or charges. Just pay the interest charged for using your arranged overdraft. A fixed and clear limit.
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With FlexOne, you can request an arranged overdraft once you’ve turned 18. An arranged overdraft is designed for short term borrowing. Completely free until you turn 23. Your arranged overdraft is free with FlexOne. There are no fees, no charges and no interest to pay.
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How to manage your borrowing effectively if you have a loan, credit card, mortgage or overdraft with us.
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If you’ve missed a payment or gone over your overdraft limit - or think you might – we can help you. We know it can be hard to talk about your finances, but we’re here to support you.
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Features and benefits of our student overdraft. Completely interest-free. Your arranged overdraft is interest-free with a FlexStudent or FlexGraduate account. There are no fees, no charges and no interest to pay. Up to £3,000 arranged overdraft limit while you study.
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With an arranged overdraft, we agree an amount of credit on your current account — extra money that’s available to you when you need it. Arranged overdrafts are designed for short-term borrowing, and you're only charged for the amount you use.
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