Nationwide Building Society is kicking off the new year with a financial incentive, urging both existing members and new customers to check if they can secure a welcome cash bonus. As many Brits review their finances in January, the mutual is highlighting a chance to gain £175 by moving your banking.
How to Qualify for the £175 Nationwide Payment
To be eligible for the £175 incentive, you must complete a full current account switch to Nationwide. You need to switch from a non-Nationwide current account to either a new or existing FlexDirect, FlexAccount, or FlexPlus account. This process must be managed through the Current Account Switch Service, which will automatically close your old account.
There are several specific requirements to meet. Your switch must include transferring at least two active direct debits from your previous account. Furthermore, you must deposit a minimum of £1,000 into your new Nationwide account and make at least one debit card payment from it.
These two final tasks—the deposit and the card payment—must be completed within 31 days of either opening the new account or applying to switch to an existing one. The £1,000 can be added in one lump sum or through multiple transactions. The qualifying debit card payment can be for a shop purchase, an online transaction, or a recurring payment.
Is There a Deadline for the Switch Offer?
Nationwide has confirmed that this switching offer is available for a limited time only. However, the building society has not yet announced a final end date for the promotion. This means interested customers should act promptly in January to ensure they don't miss out.
The provider's recent advertising campaign, spotted in London, makes a playful link to common New Year's resolutions. While many aim to lose weight after the festive season, Nationwide suggests you could also 'gain 175 pounds' in a more welcome form. The advert promotes Nationwide's status as the 'Which? Banking Brand of the Year' as a key reason to make the move.
If you are considering a bank switch to get a better service or rate, this offer from Nationwide presents a tangible short-term benefit. Ensure you follow all the steps correctly to receive the £175 bonus payment directly into your account.
