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LONDON, UNITED KINGDOM -- (Marketwire) -- 03/20/13 -- On 11 March 2013, Nationwide is launching FlexPlus, a current account that includes a market-leading package of benefits for a monthly fee of GBP 10.
The account pays credit interest of 3% AER on credit balances up to GBP 2,500. Customers who are eligible for an overdraft will benefit from a fee-free arranged overdraft for the first three months after account opening and then a GBP 100 fee-free limit will apply thereafter.
FlexPlus has been independently rated five star by Defaqto. The package of benefits available with the account, offer a high level of cover as standard, including:
-- Worldwide travel insurance - family, winter sports, golf, business and wedding cover as standard-- Worldwide mobile phone insurance - family cover up to GBP 1,000 per handset including smartphones-- Breakdown cover (UK and EU) - home assistance cover for account holder(s) in any private car and anyone permitted to drive the account holder's car-- Extended warranty - additional 12 months warranty on selected products, starting when the product's original manufacturer's warranty expires-- ID Theft assistance-- Worldwide card emergency assistance
FlexPlus customers have access to the Society's 'Flexclusives' including savings, mortgage, personal loan, credit card and car insurance deals and Simply Rewards, a reward scheme offering discounts on top brands.
The package of benefits has been designed to have wide appeal with simple customer processes and no pre-registration required. The Worldwide travel insurance, mobile phone insurance and breakdown cover have each been rated as five-star by independent financial research company Defaqto.
Phil Smith, Nationwide's Head of Current Accounts, said: "FlexPlus has been designed to an all round good value package current account to the market, that combines market leading levels of cover, with competitive account features.
"The insurances have been specifically designed to offer best in market protection offering a high level of cover as standard, rather than requiring customers to upgrade at an additional cost.
"Unlike many other accounts on the market that pay little or no credit interest, FlexPlus offers a competitive 3.0% AER on credit balances up to GBP 2,500.
"Nationwide now has a suite of current accounts to meet different customer needs, allowing the Society to be a true challenger to the big banks."
Notes to editors:
FlexPlus Key Information
Full information can be found at http://www.nationwide.co.uk/current_account/default.htm.
Account Eligibility
-- FlexPlus is open to new and existing customers aged 18 years and over-- Single and joint account options available
Account Operation
-- FlexPlus can be opened and operated online, by telephone and in branch
