Nationwide Account Switching Bonus
Nationwide Building Society clarifies how customers can claim their £175 switching bonus
Anonymous
Nationwide Building Society is offering a £175 cash bonus to customers who switch their bank account — and the building society has now spelled out exactly when that money will arrive. According to Wales Online, the payment lands in your new account within 10 days of meeting all the requirements.
The offer is open to anyone switching from a non-Nationwide or non-Virgin Money account. Cambridge News reports that eligible accounts include the FlexDirect, FlexAccount, and FlexPlus current accounts.
Three Steps You Must Complete to Qualify
Getting the £175 is not automatic. Customers must hit three targets within 31 days of opening or requesting their switch. Lancs Live explains that you must transfer at least two active direct debits from your old account. You also need to deposit at least £1,000. Finally, you must make at least one payment using your new debit card.
All three conditions must be met inside that 31-day window. Miss any one of them and the bonus will not be paid. The clock starts the moment you open your new account or kick off the switching process.
Who Is Eligible and Which Accounts Qualify
The switch must come from a bank or building society that is not Nationwide or Virgin Money. This rules out existing Nationwide customers moving between their own accounts. Leeds Live confirms the three qualifying accounts are FlexDirect, FlexAccount, and FlexPlus.
Customers can switch into a brand new account or an existing one they already hold with Nationwide. That flexibility means loyal Nationwide customers can still benefit — as long as they are bringing money over from a completely separate bank.
Payment Arrives Within 10 Days of Meeting Requirements
Once all three conditions are satisfied, Nationwide pays the £175 directly into the switched account. Daily Post reports the payment is made within 10 days of the final requirement being met. There is no need to claim the money or fill out any extra forms.
The speed of the payout depends entirely on how quickly the customer completes all three steps. Someone who deposits £1,000, moves two direct debits, and makes a card payment on day one could see the money arrive well within the first two weeks.
Full Terms and Conditions Available on Nationwide Website
Nationwide has published the complete rules for the offer on its website. Cambridge News advises customers to read the full terms before switching. Edge cases — such as what counts as an "active" direct debit — are covered in the small print.
The £175 offer is part of a broader push by UK banks to attract new current account customers. Switching bonuses have become a common tool, with several lenders competing on cash incentives throughout 2024 and into 2025.
Sentiment
NeutralNEGATIVENEUTRALPOSITIVE
Publishers
5
Articles
4
Reach
5
Topics
A
AnonymousAuthor
