Nationwide Building Society has clarified the rules for new customers seeking a £175 switching bonus. The building society responded to customer queries on social media, explaining that the £1,000 deposit must be made within 31 days of requesting the switch, not from the switchover date. Additionally, customers must make at least one debit card transaction within the same period.
The bonus is available when switching to a FlexPlus, FlexDirect, or FlexAccount. Existing Nationwide customers can also qualify by switching from another bank to one of these accounts, provided they meet the criteria. Switchers must transfer at least two active direct debits using the Current Account Switch Service (CASS) and complete the switch within 28 days.
Nationwide clarified that direct debits set up after the switch has started do not count. Standing orders and recurring card payments are also not eligible. The switch via CASS ensures incoming payments like salary or pension are transferred automatically, but customers are advised to notify their employer and pension provider personally.
Once the criteria are met, customers receive a text confirmation, and the £175 payment is made within 10 working days. Other providers offer similar incentives, including Santander (£150) and First Direct (£175).
