Tired of paying for those extra benefits you no longer use, or perhaps you've found a better banking solution? It happens! Many people sign up for accounts like the Nationwide FlexPlus for its attractive features – worldwide family travel insurance, mobile phone insurance, and UK and European breakdown cover – only to find their circumstances change. If you're wondering how to cancel your Nationwide FlexPlus account, you've come to the right place. This comprehensive, step-by-step guide will walk you through the process, ensuring a smooth transition.
The Complete Guide to Cancelling Your Nationwide FlexPlus Account
Cancelling a bank account can seem daunting, but with a little preparation, it's straightforward. The key is to ensure all your financial ducks are in a row before you hit that "cancel" button.
Step 1: Engage and Evaluate – Why Are You Cancelling?
Before we dive into the nitty-gritty, let's take a moment. Why are you looking to close your Nationwide FlexPlus account? Is it because you're no longer using the bundled insurances, or perhaps you're switching to a new bank with a more suitable offer? Understanding your motivation will help you ensure you're making the right decision and prepare you for any necessary transfers or adjustments.
Nationwide offers several ways to close your account: via their Internet Bank, by visiting a branch, or by post. Each method has its own nuances, and we'll cover them all.
Sub-heading: Understanding the FlexPlus Account
The Nationwide FlexPlus account comes with a monthly fee (currently £13, though this can change). This fee covers the included benefits. It's important to note that if you cancel any of the FlexPlus benefits, the account must be closed or switched to another eligible current account. This means you can't just opt out of the insurances and keep the FlexPlus account open without the benefits.
Step 2: Preparation is Key – Get Your Finances in Order
This is arguably the most crucial step. Before you initiate the closure, you must ensure your account is ready.
Sub-heading: Clearing Your Balance
- Ensure your account is not overdrawn: Nationwide will only close your account if it has a zero or positive balance. If you're overdrawn, you'll need to pay off the outstanding amount.
- Withdraw or transfer your funds: If your account is in credit, you'll need to move your money out.
- Option A: Internal Transfer: The easiest way is often to transfer the funds to another Nationwide account you hold (if applicable).
- Option B: External Transfer: You can transfer the money to an account at another bank using online banking (Faster Payments are usually instant for most banks).
- Option C: Cheque: Nationwide can send any remaining balance to your registered address by cheque. Ensure your address is up-to-date in their system.
- Option D: Branch Withdrawal: You can withdraw the funds in person at a Nationwide branch. For larger sums, it's advisable to give the branch notice.
Sub-heading: Managing Direct Debits and Standing Orders
This is where many people encounter issues. Do NOT simply cancel your Direct Debits and Standing Orders before you've opened a new account and set them up there. If you do, your payments will bounce, potentially leading to fees and missed bills.
- Open a new bank account first: This provides a seamless transition for your regular payments and incoming funds.
- Use the Current Account Switch Service (CASS): If you're switching your entire banking relationship to a new UK bank, CASS is your best friend. This free, impartial service guarantees that all your Direct Debits, Standing Orders, and incoming payments (like your salary) are automatically transferred to your new account within 7 working days. Your old account will then be closed. This is by far the easiest and most recommended method if you're fully switching banks.
- Manual Transfer (if not using CASS): If you're not using CASS (e.g., you're just closing the FlexPlus and keeping another Nationwide account, or only closing one of several accounts), you'll need to:
- Identify all recurring payments: Go through your bank statements for the last 6-12 months to list every Direct Debit, Standing Order, and regular incoming payment (salary, benefits, etc.).
- Set them up on your new account: Contact each organisation (utility providers, subscription services, employer, etc.) and provide them with your new bank details.
- Monitor carefully: Keep a close eye on both your old FlexPlus account and your new account for a month or two after setting up new payments to ensure everything has successfully transitioned.
Sub-heading: Updating Other Linked Services
- Recurring card payments: Unlike Direct Debits, recurring card payments (e.g., Netflix, Amazon Prime, app subscriptions) are tied to your debit card number, not your bank account. You'll need to manually update these with your new debit card details once you receive it from your new bank.
- Mobile payment services: If you use Apple Pay, Google Pay, or similar, you'll need to re-add your new debit card to these services.
- Open Banking connections: If you've granted third-party providers access to your financial data through Open Banking, these authorisations will eventually expire or be rejected once your account is closed. You may need to set them up again with your new account.
- Loan/Mortgage repayments: If your Nationwide FlexPlus account is linked to any Nationwide loans or mortgages, ensure you've made alternative arrangements for these payments before closing.
Step 3: Choose Your Cancellation Method
Once your finances are organised, you can proceed with the actual closure.
Sub-heading: Option 1: Internet Bank (Online)
This is often the quickest and most convenient method, provided you have online banking access.
- Log in to Nationwide Internet Bank: Go to nationwide.co.uk and log in with your credentials.
- Navigate to your accounts: Choose the FlexPlus account you wish to close.
- Find "Other Account Services": This option is usually located on the left-hand side of the screen.
- Select "Close Account": Follow the on-screen instructions. You'll likely be asked to confirm that you've emptied the account and transferred any payments.
Sub-heading: Option 2: In Branch (In Person)
If you prefer face-to-face assistance or have complex queries, visiting a branch is a good option.
- Find your nearest branch: Use Nationwide's branch finder online (nationwide.co.uk/ways-to-bank/branch-banking/find-your-nearest-branch) to locate a branch near you and check its opening hours.
- Gather required documents: You'll typically need to bring:
- Your current account card (FlexPlus debit card).
- Identification (e.g., passport or driving licence).
- Your chequebook (if you have one).
- Speak to a staff member: Inform them you wish to close your FlexPlus account. They will guide you through the process and help with any remaining balance transfers.
Sub-heading: Option 3: By Post (Letter)
For those who prefer written communication, you can close your account by sending a letter.
- Draft your letter: Clearly state your intention to close your Nationwide FlexPlus account.
- Include essential details: Ensure your letter contains:
- Your full name
- Your address
- Your Nationwide FlexPlus sort code and account number
- Your signature
- Crucially: Instructions on what to do with any remaining balance (e.g., transfer to another account with the new sort code and account number, or request a cheque).
- Send the letter: You can send the letter to any Nationwide branch. It's advisable to send it via recorded delivery for proof of postage and receipt.
Sub-heading: Option 4: By Phone (for certain circumstances)
While not a primary method for full closure unless dealing with specific scenarios (like being overseas with a credit balance), you can call Nationwide's general enquiries line for FlexPlus accounts on 0800 11 88 55 (from the UK) or +44 1793 54 12 00 (from abroad). They can guide you on the best method for your situation.
Step 4: Confirmation and Follow-Up
Once you've initiated the closure, it's vital to ensure it's completed correctly.
- Request confirmation: Ask for written confirmation of the account closure. This could be an email or a letter from Nationwide.
- Monitor your new account: Continue to check your new bank account for a few months to ensure all expected payments are coming in and out as planned.
- Check for final statements: You should receive a final statement from Nationwide. It's a good idea to download or request your transaction history before the account is fully inaccessible.
Important Considerations:
- Monthly Fee: Nationwide will not charge you the monthly FlexPlus fee in the month your account is closed.
- Joint Accounts: If it's a joint FlexPlus account, both account holders typically need to agree to the closure. When closing in branch, both may need to be present with their identification. Online or by post, usually both signatures/confirmations are required.
- Outstanding Charges: Your account cannot be closed if you have any outstanding charges due. Ensure these are cleared.
- Associated Benefits: Remember, once the FlexPlus account is closed, you will lose all the associated benefits, including worldwide family travel insurance, mobile phone insurance, and breakdown cover. Make sure you have alternative arrangements in place for these if you still require them.
10 Related FAQ Questions
How to transfer my Direct Debits and Standing Orders to a new bank account?
The easiest way is to use the Current Account Switch Service (CASS) if you're switching your main bank account. Otherwise, you'll need to manually inform each organisation (e.g., utility companies, subscription services) of your new bank details.
How to find out if my Nationwide FlexPlus account is overdrawn?
You can check your balance through Nationwide's Internet Bank, Banking App, at a Nationwide ATM, or by calling their customer service on 0800 11 88 55.
How to get my final balance from my Nationwide FlexPlus account after closure?
Any remaining balance will typically be sent to your registered address by cheque, or transferred to another Nationwide account you hold if specified. You should also receive a final statement.
How to download my transaction history from Nationwide before closing my FlexPlus account?
You can access and download your transaction history via Nationwide's Internet Bank before the account is fully closed and inaccessible.
How to contact Nationwide customer service for account closure queries?
For general FlexPlus enquiries, you can call Nationwide on 0800 11 88 55 (from the UK) or +44 1793 54 12 00 (from abroad).
How to find my nearest Nationwide branch?
You can use the "Branch Finder" tool on the Nationwide website (nationwide.co.uk/ways-to-bank/branch-banking/find-your-nearest-branch).
How to update my address with Nationwide before closing my account?
You can update your address via the Internet Bank, the Banking App, or by visiting a Nationwide branch.
How to ensure all my payments are moved to my new account when closing FlexPlus?
The Current Account Switch Service (CASS) guarantees the transfer of all Direct Debits, Standing Orders, and incoming payments. If not using CASS, you must manually set up all recurring payments with your new bank details and notify senders of incoming funds.
How to cancel the insurance benefits of my Nationwide FlexPlus account without closing it?
You cannot cancel the individual insurance benefits of the FlexPlus account without also closing the account or switching it to a different eligible Nationwide current account. The monthly fee covers these bundled benefits.
How long does it take for Nationwide to close a FlexPlus account?
If using the Current Account Switch Service, the process takes 7 working days. For direct closure (online, branch, or post), it can be relatively quick once all conditions (like zero balance) are met, often within a few days to a week.
