Nationwide Building Society has issued a fresh update for customers eager to secure a £175 cash bonus for switching their current account. The one-off payment is available to both new and existing members, but the clock is ticking on this popular promotion.
Is There an End Date for the Nationwide Offer?
The building society has confirmed that the £175 switching offer is only available for a "limited time only." When pressed for specific details, a spokesperson stated: "The switching offer will be available for a limited period, but we have not yet confirmed an end date." This follows the recent withdrawal of a similar £200 offer by Lloyds Bank, highlighting the importance of acting quickly before banks pull these deals.
Step-by-Step Guide to Claiming Your £175
To qualify for the bonus, you must meet several clear criteria. First, you need to switch a current account from a provider outside of Nationwide to a new or existing FlexDirect, FlexAccount, or FlexPlus account.
The process requires a full switch using the Current Account Switch Service, which will close your old account. You must also transfer at least two active direct debits and complete the switch within 28 days of applying.
Once the switch is requested, you have 31 days to fulfil two further requirements:
- Deposit a minimum of £1,000 into the Nationwide account (this can be done in one lump sum or multiple payments).
- Make at least one debit card payment from the account, which can be an in-store purchase, an online transaction, or a recurring card payment.
Beyond the Switch: Nationwide's Other Member Rewards
For those considering a move to Nationwide, it's worth noting the provider's history of sharing profits with its members. Through its Fairer Share Payment scheme, the mutual has distributed several rounds of £100 payments to eligible customers.
The most recent payments were issued in June and July 2025, benefiting millions of members. To qualify for such bonuses, customers typically need a qualifying current account alongside a savings account or mortgage with the society.
