Nationwide Building Society is launching a new offer aimed at enticing potential customers by offering a financial incentive to those switching their current accounts. Starting Wednesday, September 25, anyone switching to a Nationwide account through the Current Account Switch Service will receive £175.
In addition to the cash bonus, Nationwide is offering further perks for those opening a FlexDirect account. Customers will receive 1% cashback on all debit card spending and a £50 interest-free overdraft buffer.
To qualify for the £175 bonus, new customers must transfer at least two active direct debits to their new Nationwide FlexAccount, FlexPlus, or FlexDirect accounts. Additionally, they must deposit £1,000 and make one debit card payment within 31 days of opening the account.
For those opening a FlexDirect account and who haven’t previously benefited from an incentive on this account, the 1% cashback offer applies.
Nationwide’s Main Current Accounts:
- FlexPlus: A leading packaged account costing £13 per month, offering benefits like worldwide family travel insurance, mobile phone insurance, UK and European breakdown cover, and commission-free spending abroad.
- FlexDirect: An online account paying 5% AER credit interest and offering 1% cashback on debit card spend.
- FlexAccount: A no-fee everyday banking option that allows customers to bank online and in branch.
Tom Riley, Director of Retail at Nationwide, said, “We want to give people every reason to join Nationwide. Our new incentives are the latest demonstration of how we are making banking more rewarding for customers. We believe this shows the difference of being part of a modern mutual, which reinvests its profits for the benefit of members and customers, not shareholders.”
While Nationwide is offering an attractive switch deal, First Direct is also offering a £175 bonus for new customers, but there are few other offers available in the market for potential switchers at the moment.
