Nationwide customers can receive a £175 payment when they switch their current account, with the money potentially arriving in time for Christmas. The building society confirms that eligible customers will get the payment into their bank account "within 10 days of you meeting all the requirements." The account must be open when the bank makes the payment, and the payment will appear on the statement as "Switching Offer." For those switching to a joint account, only one £175 payment will be made.
How to qualify for the offer
The switch offer "runs from May 21 2026 until the offer ends," according to Nationwide's terms and conditions. The bank adds: "We may end, change or replace this offer at any time. If we do this, and you’ve already requested a switch, you’ll still get this offer if you meet all the requirements."
To qualify, customers must choose an account and apply, switching to a new or existing FlexDirect, FlexAccount, or FlexPlus. The switch must be from a non-Nationwide or non-Virgin Money current account, and the old account must have at least two Direct Debits to move over. A full switch must be started using the Current Account Switch Service, which includes Nationwide closing the old account, and must be completed within 28 days.
After applying, customers need to pay in £1,000 and make one debit card payment within 31 days of the new account opening or when applying to switch to an existing account. Restrictions apply. Nationwide notes: "This must be the first time you've had one of our switch offers on an eligible sole or joint account."
Who is not eligible
The bank states that customers may not get the offer if they are switching from a current account already held with Nationwide Building Society, including under a different trading name such as Virgin Money. The offer is also unavailable if the switch was requested before May 21, 2026, even if it completes after that date, or if the switch was requested after the offer was withdrawn.
Additionally, customers will not qualify if they or a joint account holder already have a current account managed by Nationwide's Collection and Recoveries department at the time the switch completes, or if they or any of their accounts are subject to a financial sanction or restraint order, or if there is suspected fraud or other unlawful activity on the account.
Funding the £1,000 and card payment
The £1,000 can be paid in instalments or as a lump sum. It can come from money moved over from the old account as part of the switch, salary paid into the Nationwide account after the switch, or money transferred from another account not held with Nationwide. It cannot come from money already in the account if switching into an existing account, another Nationwide account (even one not in the customer's name), or Visa credits.
For the debit card payment, paying for something in most shops or online counts, and only one payment is needed. Recurring card payments such as subscriptions like Netflix or Spotify also count. Most payments made via Apple Pay, Samsung Pay, or Google Pay count, though they may not if they are for a type of transaction that isn't eligible. Transactions that don't count include gambling, cryptocurrency, cash withdrawals, cash-type transactions like buying foreign currency or travellers cheques, loan, lease and mortgage payments, and money orders and money transfers.
For those switching to a new account, the 31 days to pay in £1,000 and make a debit card payment start when Nationwide opens the account. The bank explains: "Usually, the account will be open as soon as you finish your application. But sometimes we need to do extra checks first. We’ll tell you if we need to do this. If we do, don’t worry. Your 31 days won’t start until we have everything we need and your account is open. Once your account is open, we'll tell you and you can start paying in money. We'll send your debit card to you as well. You should get it in 8 to 10 days after your account opens."
For those switching to an existing Nationwide account, the bank confirms: "You have 31 days to pay in £1,000 and make a debit card payment from when you finish your application. So you can start paying in money and using your current debit card right away."
Previous switch offer recipients
Customers who have had a Nationwide switch offer before may still be eligible. The bank confirms that customers can "get our switch offer a maximum of two times - once on your first eligible sole account and once on your first eligible joint account." The offer can be received again if a customer had an offer on a joint account before and is now switching to a sole account, or if they had an offer on a sole account before and are now switching to a joint account, provided the other person has not had a switch offer on a joint account before.
Customers can check eligibility via Nationwide's eligibility checker, and if they qualify, the bank will let them know how to start the switch. Full terms and conditions are available on the Nationwide website.
