Ready to make a change with your banking? If you're looking to cancel your Nationwide FlexPlus account, you've come to the right place! This comprehensive guide will walk you through every step of the process, ensuring a smooth and hassle-free experience. Let's get started!
Cancelling Your Nationwide FlexPlus Account: A Step-by-Step Guide
The Nationwide FlexPlus account offers a range of benefits, including mobile phone insurance, worldwide family travel insurance, and UK and European breakdown cover. However, circumstances change, and you might find that the account no longer suits your needs, or perhaps you're looking to reduce your monthly banking fees. Whatever your reason, closing your account requires a few important steps to ensure all your financial arrangements are in order.
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| How To Cancel Flex Plus Account Nationwide |
Step 1: Are you absolutely sure you want to cancel?
Before you dive into the cancellation process, let's take a moment. Have you considered all the implications of closing your FlexPlus account? Remember, you'll lose access to those bundled insurances (travel, mobile phone, and breakdown cover) and any exclusive member-only products like the Flex Regular Saver or Flex Instant Saver. If these benefits are still valuable to you, perhaps a different Nationwide account or a review of your current usage might be a better fit. If you've thought it through and are ready to proceed, then fantastic, let's move on!
Step 2: Prepare Your Account for Closure
This is a critical preparatory phase to prevent any issues or missed payments once your account is closed.
Sub-heading 2.1: Settle Any Outstanding Balances
First and foremost, ensure your FlexPlus account balance is at zero, or even in credit, before attempting to close it. If you have an arranged or unarranged overdraft, you must pay it off. Nationwide will not close an account with a negative balance or outstanding charges.
Sub-heading 2.2: Re-route Your Direct Debits and Standing Orders
This is arguably the most important part of the preparation.
Tip: Read slowly to catch the finer details.
- Identify all regular payments: Go through your statements and identify all Direct Debits (e.g., utility bills, subscriptions, loan repayments) and Standing Orders (e.g., rent, regular transfers to savings). Make a comprehensive list.
- Update payment details: Contact each service provider individually and provide them with your new bank account details (if you're switching to another account). Do this well in advance of your intended closure date. Do not rely on Nationwide to do this for you if you're simply closing the account without using the Current Account Switch Service.
- Consider potential disruptions: Missing payments can lead to late fees, service interruptions, or even damage to your credit score. Be meticulous in this step.
Sub-heading 2.3: Redirect Incoming Payments
Similarly, if you receive regular income or payments into your FlexPlus account (e.g., salary, pension, benefits, transfers from friends/family), you'll need to inform the senders of your new account details. Any payments made to your old account after closure will likely be returned to the sender.
Sub-heading 2.4: Transfer Remaining Funds
Once all Direct Debits and incoming payments are re-routed, transfer any remaining funds out of your FlexPlus account to your new account. You can do this via online banking or by visiting a branch.
Sub-heading 2.5: Close Linked Savings Accounts (if applicable)
If you have any savings accounts linked directly to your FlexPlus current account (e.g., eSavings), you might need to close or re-link them before your FlexPlus account can be fully closed. Contact Nationwide if you're unsure.
Step 3: Choose Your Cancellation Method
Nationwide offers a few ways to close your FlexPlus account. Choose the method that is most convenient for you.
Sub-heading 3.1: Online via Internet Bank (Recommended for most)
This is often the quickest and easiest method if your account is in credit and all payments have been rerouted.
QuickTip: Break down long paragraphs into main ideas.
- Log in: Go to the Nationwide Internet Bank at nationwide.co.uk and log in to your account.
- Navigate to accounts: Select 'View accounts'.
- Choose your FlexPlus account: Select the FlexPlus account you wish to close.
- Access other services: Look for 'Other account services' (usually on the left side of your screen or within a menu).
- Select 'Close account': Follow the on-screen instructions to complete the closure process.
- Important Note: Your balance must be zero or in credit to close online. If you have a credit balance, Nationwide will ask where you want the funds transferred to.
Sub-heading 3.2: In Branch
If you prefer a face-to-face interaction or need assistance, visiting a Nationwide branch is a good option.
- Locate your nearest branch: Use the branch finder on the Nationwide website.
- Gather required documents: Bring your:
- Current account card for the FlexPlus account.
- Identification (e.g., passport, driving licence).
- Chequebook (if you have one).
- Speak to a representative: A member of staff will guide you through the closure process and can help with any remaining funds.
Sub-heading 3.3: By Post
You can also cancel your account by sending a letter. This method is generally slower but might be suitable if you cannot use online banking or visit a branch.
- Draft a letter: Include the following essential information:
- Your full name
- Your address
- Your FlexPlus account number and sort code
- A clear statement that you wish to close your FlexPlus account.
- Instructions on where to send any remaining credit balance (new account details or a request for a cheque).
- Your signature.
- Send to a branch: Address the letter to any Nationwide branch. You can find branch addresses on their website. It's advisable to send it via recorded delivery for proof of postage.
Sub-heading 3.4: By Phone (Limited circumstances)
While Nationwide generally prefers online or in-branch closures for current accounts, you may be able to close your FlexPlus account over the phone if your account is in credit and you can transfer the balance to another account during the call.
- FlexPlus General Enquiries: Call 0800 11 88 55 (from the UK) or +44 1793 54 12 00 (from abroad). Lines are generally open Monday to Saturday, 8 am to 8 pm, and Sundays, 9 am to 5 pm.
- Be prepared to provide your account details and security information.
Step 4: Confirmation and Follow-Up
Once you've initiated the closure, there are a couple of final steps.
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Sub-heading 4.1: Receive Confirmation
Nationwide will typically send you a confirmation once your account has been successfully closed. This might be via post or through your online banking messages. Keep this for your records.
Tip: Read the whole thing before forming an opinion.
Sub-heading 4.2: Monitor for Any Issues
For a few weeks after closure, keep an eye on your new bank account and any accounts that had Direct Debits or incoming payments linked to your old FlexPlus account. This is to ensure all payments have successfully transitioned and no issues arise.
10 Related FAQ Questions
Here are some quick answers to common questions about cancelling your Nationwide FlexPlus account:
How to confirm if my Direct Debits have moved? You can check your new bank account's statement or online banking to see if the Direct Debits have been set up and debited successfully. You can also contact the service providers directly to confirm they have updated your details.
How to avoid losing my FlexPlus benefits immediately? Your FlexPlus benefits (insurance, breakdown cover) are tied to the account. Once you close the account, these benefits will cease. There's no way to retain them without maintaining the FlexPlus account.
How to get a refund for unused FlexPlus monthly fees? Nationwide typically charges the FlexPlus monthly fee (£18) at the start of the month. You generally won't receive a pro-rata refund for the month in which you cancel, but you won't be charged for subsequent months.
Tip: A slow skim is better than a rushed read.
How to access old statements after closing my account? You can usually access statements for a closed account through Nationwide's Internet Bank for a certain period, or you can request copies from Nationwide directly. It's a good idea to download and save any statements you might need before closing.
How to switch my FlexPlus account to another Nationwide account? You can change your existing FlexPlus account to another Nationwide current account (like a FlexAccount or FlexDirect) online via the Internet Bank or by visiting a branch. This is often a simpler process than a full closure and re-opening.
How to deal with a credit balance after account closure? Nationwide will typically send any remaining credit balance to your registered address by cheque, or transfer it to an account you've nominated during the closure process. Ensure your address details are up to date.
How to close a joint FlexPlus account? For joint accounts, both account holders typically need to agree to the closure. The process is similar to a sole account, but often requires consent from both parties, especially if done in branch or by post.
How to ensure all recurring card payments are stopped? Unlike Direct Debits or Standing Orders, recurring card payments (where you've given a merchant your debit card details for regular payments) are not automatically transferred or cancelled. You must contact each merchant directly to update your payment method or cancel the recurring payment.
How to re-open a FlexPlus account after closing it? If you close your FlexPlus account and later decide you want it back, you would generally need to apply for a new account, subject to Nationwide's eligibility criteria at that time. It's not usually possible to simply "re-open" a closed account.
How to complain if I have issues cancelling my account? If you encounter problems or are dissatisfied with the cancellation process, you should first contact Nationwide's customer service or complaints department. If your issue remains unresolved, you can escalate your complaint to the Financial Ombudsman Service.
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