Nationwide will give students £100 cashback when they open a FlexStudent1 current account.
The account2 continues to offer an interest-free and fee-free arranged overdraft of up to £3,000 by the third year – one of the highest on the market.
The £100 cashback is a limited time offer and students need to open a FlexStudent account from 1 August 2023 and meet all eligibility criteria. It is not available to anyone opening an account before that date.
FlexStudent benefits
- Cashback: The limited time offer of £100 is available to those opening an account from 1 August 2023. Eligible students will receive £100 within 14 calendar days of crediting £500 to their FlexStudent account, which must be done by 15 December 2023.
- Arranged overdraft: Access to an interest-free, fee-free, flexible overdraft throughout a student’s studies (subject to status), where they can set borrowing limits. Students can request up to a maximum of £1,000 in the first year, up to £2,000 in their second year and a maximum of £3,000 in year three.
- Access to the FlexGraduate3 current account: Those with a FlexStudent account will have exclusive access to FlexGraduate – a post-university current account with an interest-free, fee-free arranged overdraft designed to help students find their feet after university, allowing them time to pay off their overdraft once their course has finished.
Tom Riley, Director of Retail Products at Nationwide Building Society, said: “For many students, university is the first time they have to manage a household budget and the rising cost of living is likely to make things even harder this year. Our FlexStudent account has been designed with the needs of students in mind as it offers them £100 cashback plus an interest-free and fee-free arranged overdraft of up to £3,000 that they can dip into as needed. However, the cashback is only available for a limited time, so I’d encourage students to act quickly if they want to benefit from the offer.”
-ends-