Nationwide Is Handing Out £175 in Free Cash: Switching your current account to a new bank is often seen as a hassle, but Nationwide Building Society is making the process a lot more attractive by offering a £175 cash incentive. This offer is available to new customers who switch their current account to Nationwide using the Current Account Switch Service (CASS). So, if you’ve been on the fence about changing your bank, now might be the perfect time to take the plunge and enjoy some free cash in your pocket. Let’s break down how to qualify for this sweet deal, what you’ll need to do, and why you should consider switching to Nationwide, beyond just the bonus.
Nationwide Is Handing Out £175 in Free Cash
Nationwide’s £175 bank switching offer is a fantastic opportunity for those looking to switch accounts and earn a little extra cash. By following the simple steps outlined in this guide, you can make the switch without any hassle. Plus, with the additional perks that Nationwide offers, including the Fairer Share payment, this deal could provide long-term benefits beyond just the £175 bonus. If you’re ready to switch, make sure you meet all the eligibility criteria and enjoy the rewards!
| Feature | Details |
|---|---|
| Offer Amount | £175 |
| Eligible Accounts | FlexDirect, FlexAccount, FlexPlus |
| Switching Method | Full switch via Current Account Switch Service (CASS) |
| Direct Debits Requirement | Transfer at least two active Direct Debits from your old account |
| Deposit Requirement | Pay in at least £1,000 within 31 days of account opening or applying to switch |
| Debit Card Transaction | Make at least one debit card payment within 31 days of account opening or applying to switch |
| Eligibility | New customers or those who haven’t received a Nationwide switching bonus since 2021 |
| Payment Timeline | £175 credited within 10 days after meeting all conditions |
| Joint Accounts | Only one £175 payment per joint account |
| Official Website | nationwide.co.uk/switch |
How to Qualify for the Nationwide Is Handing Out £175 in Free Cash?
To ensure you meet the eligibility criteria for Nationwide’s £175 bank switching offer, follow these steps:
1. Choose an Eligible Nationwide Account
You need to pick one of the following accounts to qualify for the bonus:
- FlexDirect: Offers 5% interest on balances up to £1,500 for the first 12 months, plus 1% cashback on debit card spending.
- FlexAccount: A basic, fee-free account suitable for everyday banking.
- FlexPlus: A premium account offering travel insurance, mobile phone insurance, UK and European breakdown cover, and commission-free overseas usage for £18 per month.
2. Initiate a Full Switch Using CASS
The Current Account Switch Service (CASS) allows you to transfer all your direct debits, standing orders, and incoming payments to your new Nationwide account. It will also automatically close your old account. Be sure to transfer at least two active Direct Debits as part of the process.
3. Meet the Deposit and Debit Card Payment Requirements
Once your Nationwide account is open, deposit at least £1,000 within 31 days. This deposit can come from your old account as part of the switch, your salary, or another non-Nationwide account.
Next, make at least one debit card purchase, either in-store or online. Keep in mind that certain transactions like gambling or cryptocurrency purchases won’t count towards this requirement.
4. Ensure You Haven’t Received a Nationwide Switching Bonus Since 2021
To be eligible, you must not have previously received a Nationwide switching bonus since 2021. However, there are exceptions. If you have switched to a sole account and now you’re opening a joint account, or vice versa, you may still qualify for the bonus.
5. Receive Your £175 Bonus
Once you’ve completed all the steps, Nationwide will deposit the £175 into your new account within 10 days.
Additional Benefits of Switching to Nationwide
Besides the £175, switching to Nationwide can also make you eligible for their annual “Fairer Share” payment. This payment, which in 2025 amounted to £100, is distributed to members with qualifying accounts, savings, or mortgages. Nationwide intends to continue the “Fairer Share” initiative annually, so this could be an extra bonus down the line.
Why You Should Consider Switching to Nationwide?
Beyond the £175 incentive, Nationwide offers a host of benefits that make it worth considering for your banking needs. Here are a few reasons to make the move:
- Customer Service: Nationwide consistently ranks highly for customer service in the UK. They pride themselves on their member-focused approach, which can make a big difference when it comes to resolving issues or getting financial advice.
- Fairer Share: As a mutual society, Nationwide distributes profits to its members rather than shareholders. This means that, over time, you could benefit from various bonuses like the “Fairer Share” payment mentioned earlier.
- Variety of Accounts: With flexible accounts like FlexDirect, FlexPlus, and FlexAccount, Nationwide offers options for everyone—from those looking for high interest on savings to those who need extra perks like insurance or breakdown cover.
- No Hidden Fees: Nationwide is transparent about its fees, and you won’t find any sneaky charges lurking on your statements.
Comparing Nationwide’s Offer with Other Bank Switching Bonuses
While the £175 offer from Nationwide is appealing, how does it stack up against other bank switching deals? Here’s a quick comparison with a couple of other popular banks offering incentives:
| Bank | Offer Amount | Conditions |
|---|---|---|
| Nationwide | £175 | Switch using CASS, transfer 2 Direct Debits, deposit £1,000, make 1 debit card payment |
| First Direct | £175 | Switch using CASS, deposit £1,000, make 3 debit card payments |
| Santander | £200 | Switch using CASS, deposit £1,000, make 2 debit card payments |
While Santander offers £200, Nationwide’s offer of £175 is a great deal, especially when you factor in the extra perks and Nationwide’s customer service reputation.
Step-by-Step Guide to Switch Your Bank Account
Switching banks doesn’t have to be intimidating. Here’s how to do it step-by-step:
- Choose Your New Account: Pick one of Nationwide’s eligible current accounts.
- Start the Switch: Use the Current Account Switch Service (CASS) to begin the process.
- Transfer Your Direct Debits: Make sure at least two active direct debits are switched over.
- Deposit £1,000: Add at least £1,000 to your new Nationwide account.
- Make a Debit Card Payment: Use your new Nationwide debit card for a purchase.
- Wait for the Bonus: Once you’ve met all the criteria, wait 10 days for the £175 to appear in your account.
What to Look Out for When Switching Banks?
Switching banks is a simple process, but there are a few things to keep in mind:
- Check Fees: Make sure the account you’re switching to doesn’t have hidden fees that could cancel out the benefits of the bonus.
- Update Your Payment Details: Remember to update any payments that were previously going into your old account—this includes your salary, bills, and any direct debits.
- Consider Account Features: Some accounts offer benefits like travel insurance or cashback. Make sure the account you’re switching to has the features you need.
UK Housing Benefit In October 2025; Check Benefit Amounts, Eligibility Criteria
UK £200 Cost of Living Payment in October 2025 – Check Payment Date, Eligibility, and Status Here
Universal Credit, PIP and Pension Payments in September 2025; Check Eligibility & Payment Date
