Building Society Nationwide introduces a £175 offer for account transfers nationwide - determine your eligibility.
Nationwide Building Society has announced a series of incentives for customers who switch their current account to the building society. The offers, which include a £175 bank switch bonus and competitive interest rates, aim to attract more customers and help them manage their finances more effectively.
The FlexDirect account, an online account, stands out as a particularly attractive option. It pays 5% interest for 12 months and offers 1% cashback on debit card spend up to £60. The account is fee-free, making it an excellent choice for those looking to maximise their savings and earn a bit extra on their everyday spending.
Customers who move their current account to Nationwide can choose from three eligible accounts to receive the £175 reward: the FlexPlus, FlexDirect, and FlexAccount current accounts. To claim the offer, a full switch using the Current Account Switch Service (CASS) is required. Once the application is approved and the account is switched, customers must pay in at least £1,000 and make one debit card payment within 31 days of account opening or applying to switch into an existing account.
Other automatic payments, such as standing orders and recurring card payments, do not count towards the required transfers. Customers must transfer at least two Direct Debits as part of their switch. It's important to note that customers are not eligible for the offer if they have benefitted from another Nationwide switching offer.
In addition to the bank switch bonus, Nationwide members may also be eligible for the 'Fairer Share' payment. This payment, which was distributed in 2023, 2024, and 2025, is contingent on it not being detrimental to Nationwide's financial strength and is subject to board approval.
Tom Riley, director of group retail products at Nationwide, expressed his enthusiasm for these offers, stating, "It's rewarding to be a Nationwide member. We're committed to helping more people benefit from our offers, and the bank switch bonus is just one way we're doing that."
To stay informed about the latest investment and personal finance news, market analysis, and money-saving tips, customers can subscribe to Nationwide's free twice-daily newsletter, Money Morning. They can also sign up for the first six magazine issues free by subscribing to the Nationwide website.
The FlexAccount is another everyday current account option with no monthly fee, providing a simple and affordable way for customers to manage their finances. For those seeking additional benefits, the FlexPlus account offers family travel insurance, phone insurance, and breakdown cover for a fee of £18 a month.
In conclusion, Nationwide Building Society's bank switch offers provide an excellent opportunity for customers to earn a £175 bonus and enjoy competitive interest rates and cashback on debit card spend. By switching to Nationwide, customers can also potentially receive the 'Fairer Share' payment and take advantage of other benefits such as Money Morning and the FlexPlus account.
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