Nationwide Building Society has rolled out a tempting new switching offer: £175 free cash for customers who move their current account. While this sounds like an easy win, there are several strict conditions you must meet to secure the payment.
Here’s everything you need to know about eligibility, requirements, and the small print behind the deal.
Key Details and Eligibility
Nationwide’s latest incentive is available to new and existing customers who open or switch into specific current accounts. However, not everyone can qualify.
Offer Requirements
| Requirement | Details |
|---|---|
| Offer Amount | £175 free cash |
| Application Start Date | From 18 September 2025 |
| Eligible Accounts | FlexPlus, FlexDirect, or FlexAccount |
| Switch Method | Full switch using the Current Account Switch Service (CASS) — the old account must close |
| Direct Debits | Minimum of 2 Direct Debits must be transferred (standing orders and recurring card payments don’t qualify) |
| Deposit Requirement | Deposit at least £1,000 within 31 days of account opening or switching |
| Debit Card Transaction | Make at least 1 qualifying debit card payment within 31 days |
| Exclusions | No previous Nationwide switching bonus since 2021 |
| Payment Timing | £175 paid within 10 days of meeting all conditions |
| Joint Accounts | Only one £175 payment per joint account |
The Hidden Twist
While the offer headline promises “free cash,” the reality is more complicated. The hidden twists are in the details:
- CASS Only – You must use the Current Account Switch Service and close your old account completely.
- Two Direct Debits – Standing orders and subscription card payments don’t count. This can be tricky if your bills aren’t set up that way.
- £1,000 Deposit & Card Use – Both must be done within 31 days, so timing is tight.
- Previous Bonus Exclusion – If you’ve had a Nationwide switch incentive since 2021, you’re out.
- Joint Accounts – Only one bonus per account, no matter how many people share it.
These conditions mean the offer isn’t truly “free” unless you carefully plan your switch.
What Counts for Debit Card Transactions?
To meet the debit card requirement, you must make at least one qualifying purchase. Valid transactions include everyday purchases online or in-store, as well as recurring card payments for services like streaming.
However, some payments won’t count, such as:
- Gambling or cryptocurrency transactions
- Cash withdrawals or foreign currency purchases
- Loan, lease, or mortgage payments
- Traveller’s cheques and money transfers
Failing to meet the debit card requirement is one of the most common reasons customers miss out on the bonus.
Additional Benefits
The eligible accounts also come with their own perks:
- FlexDirect – Offers interest on balances up to a certain limit and cashback on debit card spending for the first 12 months.
- FlexPlus – A packaged account with extras like worldwide family travel insurance, mobile phone insurance, and breakdown cover (monthly fee applies).
- FlexAccount – A simpler everyday account, often chosen by those who just want the switching bonus without extra perks.
These benefits can add further value depending on which account you choose.
Should You Switch?
This offer is particularly attractive if you can meet the conditions easily. For customers who already pay bills via Direct Debit and can deposit £1,000 without issue, the £175 is essentially a quick reward.
But for those who don’t use Direct Debits or who may struggle to deposit the required amount promptly, the offer could be more hassle than it’s worth.
Nationwide’s £175 free cash switching bonus is one of the most generous incentives on the market — but the hidden twist lies in the rules. To qualify, you must switch through CASS, move at least two Direct Debits, deposit £1,000, and use your debit card within 31 days.
For those who tick all the boxes, the reward will land in their account within 10 days. If you’re considering the switch, plan ahead to ensure you meet every requirement and make the most of this deal.
FAQs
How long does it take to receive the £175 bonus?
You’ll get the £175 within 10 days of meeting all the eligibility criteria.
Can existing Nationwide customers qualify?
Yes, as long as you open or switch into a FlexPlus, FlexDirect, or FlexAccount and haven’t received a switching bonus since 2021.
Do standing orders count as Direct Debits?
No. Only Direct Debits qualify. Standing orders and recurring card payments do not count toward the requirement.