Customers with one of several accounts can get the bonus cash
Nationwide Building Society has shared an update about a bonus payment scheme for its customers. The one-off payment of £175 is open to both new and existing customers. To qualify, you’ll need to switch your current account from a non-Nationwide provider to either a new or existing FlexDirect, FlexAccount or FlexPlus account.
However, Nationwide’s website warns that this offer is only available for a “limited time only”. Account holders may be keen to know exactly how long they have left, as banks and building societies can end these offers at short notice.
Lloyds Bank recently withdrew its £200 switch offer. Nationwide was asked if it had an end date set for the deal. The provider said: “The switching offer will be available for a limited period, but we have not yet confirmed an end date.”
How can you claim the £175 switch offer from Nationwide?
To be eligible, you must switch a non-Nationwide bank account to a new or existing FlexDirect, FlexAccount or FlexPlus account. You must arrange a full switch, using the Current Account Switch Service, which includes closing your old account.
You’re also required to transfer at least two active direct debits from your previous account. The switch must be completed within 28 days of applying for it.
After requesting the switch, you need to deposit a minimum of £1,000 and make at least one debit card payment from the Nationwide account. These two actions must be completed within 31 days of either opening your new Nationwide account or applying to switch over to an existing account.
You can choose to deposit the £1,000 in one lump sum or in several instalments. The debit card payment can include most purchases in-store or online, or a recurring card payment.
Other bonus cash from Nationwide
If you’re considering switching to Nationwide, it’s worth noting that the building society frequently pays out other bonus payments to its members. The group has distributed several £100 payments through its Fairer Share Payment scheme, when it shares out its profits with members.
The most recent round of payments was issued in June and July 2025, with millions of members being paid £100. To receive the most recent bonus, you needed to have a qualifying current account, plus a qualifying savings account or qualifying mortgage.
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