RSS Feed

Related Articles

Related Categories

Nationwide rewards older Flexaccount travellers

19th September 2011 Print

From Wednesday 21 September 2011, Nationwide Building Society will become the only UK financial services provider to offer free travel insurance (as part of a free current account) to those aged up to 75.  The Society is extending its upper age limit on its travel insurance, which is free to all those who use its award winning FlexAccount as their main current account.

When Nationwide launched the free travel insurance in August last year, its upper age limit was 75 for existing customers but 65 for new customers.  From 21 September, the upper age limit of 75 will be available to all eligible FlexAccount holders.  The Society will start writing to inform customers of the new upper age limit later this month.  Nationwide will also be writing to those already benefitting from free travel insurance to assure them that their cover has been renewed up until December 2012, subject to our eligibility criteria.

Banks that offer travel insurance as part of their packaged accounts charge monthly fees of between £10 to £20 depending on the type of account.   Buying similar European travel cover from an insurance provider for a couple aged 75 would cost between £120 and £220 per annum.

Nationwide's FlexAccount is designed to reward and provide outstanding value to customers who use Nationwide's FlexAccount as their main current account for their everyday banking.  As well as improving its free travel insurance, the FlexAccount continues to offer its customers an exclusive and unique package of benefits with no monthly fee, including:

Access to one of the lowest personal loan rates in the market at  6.3% APR typical
Access to Flexclusive Saver, an instant access account paying 1.75% above base rate
35% off 5 star Home Insurance

Access to an exclusive flexible mortgage with no product fee and free standard legal and valuation fees and borrowing of up to 90% loan to value

Among the lowest charges in the market for foreign currency transactions

Graham Pilkington, director of consumer finance at Nationwide, said: "Our current account offers an unbeatable package of benefits which are comparable with those offered by many paid for packaged accounts.  We don't ask our customers to pay for these extras, we simply ask them to use FlexAccount as their main account and we then reward them for their loyalty.

"Currently, the over 65s have to pay significantly more for their travel insurance or pay a monthly fee for a current account which may offer it.   Either way they have to pay.  Now they can get it free of charge at Nationwide simply by using FlexAccount as their main account".