Nationwide launches free £175 money supply – however individuals have to act quick

The freebie is only available to those who open a FlexAccount, FlexPlus or FlexDirect current account with the building society, and you need to meet certain criteria

Nationwide is offering a £175 cash incentive to customers who switch to the bank “in just seven working days.” This bonus is part of Nationwide’s Current Account switching deal, which rewards customers for opening a FlexAccount, FlexPlus or FlexDirect current account through its website or banking app.

Existing customers can also benefit from this offer by switching their non-Nationwide bank account and meeting all other qualifying criteria.

The bank stipulates that a full account switch must be completed using the Current Account Switch Service, with at least two active Direct Debits transferred to Nationwide.

Any Direct Debits set up or transferred after the switch has started won’t count towards the offer, nor will other types of automated payments like standing orders or recurring card payments.

Within 31 days of requesting the switch, customers must deposit at least £1,000 into the account (excluding transfers from other Nationwide accounts or Visa credits) and make one payment using their Nationwide debit card.

Certain transactions, such as gambling, cryptocurrency, cash withdrawals, mortgage payments and money transfers, don’t qualify as debit card payments, so customers are advised to check the terms.

Nationwide is enticing new customers with a £175 bonus for switching to their current account, promising a hassle-free process.

The building society assures that the switch will be completed within 28 days of the request, and if all conditions are met, the reward will be credited as ‘Switching Offer’, reports the Express.

Nationwide commented: “Switching your bank account is designed to be simple, reliable and stress-free. You can switch in just seven working days, and our dedicated team will move over your payments, balance and even your payees.”

They added, “The whole process is backed by the Current Account Switch Guarantee. So, in the unlikely event that something is missed, you won’t be out of pocket. Any fees or charges will be covered. And your credit rating will be protected too.”

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