Nationwide Building Society has relaunched its FlexStudent current account, offering new customers £100 cash and £120 in Just Eat vouchers, totalling £220. The offer is available on accounts opened from Wednesday, July 15, 2026.
Account Details and Eligibility
The FlexStudent account is designed for UK students in their first year of university. It includes an interest-free arranged overdraft of up to £1,000 in the first year, increasing to £2,000 in the second year and £3,000 by the third year. To receive the £100 cash, students must credit their account with at least £500 within 14 days of opening and make five debit card payments by December 11, 2026.
Additionally, account holders will receive a code for a £10 Just Eat voucher every month for a year, also issued within 14 days of meeting the conditions. The vouchers can be used online.
Overdraft and Graduate Transition
To qualify for the arranged overdraft, students must pay at least £500 into their account or have at least £1,500 paid in via two or more payments. After graduation, FlexStudent users can transition to the FlexGraduate account, which offers an interest-free arranged overdraft to support post-university finances.
Expert Comments
Tom Riley, director of retail products at Nationwide Building Society, said: "Starting university is an exciting milestone, but it’s completely normal for both students and parents to feel concerned about managing money independently for the first time. Taking some time to research and prepare before term starts can make the transition much smoother. A good place to start is by opening a student current account, which can help make everyday finances easier to manage. Our FlexStudent account combines practical support such as access to an overdraft with a mix of cash incentives and Just Eat vouchers giving students a little extra help as they settle into university life."
Andrew Hagger, personal finance expert from Moneycomms.co.uk, added: "The high street providers are starting to announce their student bank account offers for 2026/27, with Nationwide looking to build on last year's dominant performance, where it took 48% of the market. The Just Eat promotion was a big success last year, with more than half a million takeaway vouchers downloaded - a massive hit with students. Interestingly, 11% of Nationwide Student bank accounts were opened in a branch, showing how those perhaps opening a bank account for the first time value face-to-face service."
Rachel Springall, finance expert at Moneyfacts, said: "An essential part of any student's current account is a generous interest-free overdraft, and combining this with cost-saving incentives and free cash can make a huge difference to students. Nationwide’s FlexStudent account offers an attractive bundle, the £100 cash bonus can go towards the cost of study materials, and Just Eat vouchers help students save a bit of cash when ordering takeaways or groceries."
Market Context
Nationwide's relaunch comes as other banks introduce student account offers for the 2026/27 academic year. The building society's previous promotion saw it capture 48% of the student current account market, with over half a million Just Eat vouchers downloaded. The offer aims to support students with both immediate cash and ongoing savings on food and takeaways.
