Customers of the high street bank could have a decent sum of money in their bank accounts in just over a week
Nationwide has launched a bonus for customers who switch their accounts to the UK’s biggest building society(Image: Nathan Stirk)
The cost of living has risen in the UK and across the world since 2022, meaning Brits are doing whatever they can when they can to save a bit of money.
And for those who are looking for a bit of a windfall, one high street bank is offering a free £275 bonus to customers who switch their accounts to the UK’s largest building society, with £175 of it being credited within 10 days.
Nationwide has committed to paying the £175 into the Nationwide account you’ve switched into, explaining: “We’ll do this within 10 days of you meeting all the requirements. The account must be open when we make the payment.”
The bank, which has multiple branches across Scotland, continued: “If you’re switching into a joint account, you’ll only receive 1 £175 payment. The payment will show on your statement as ‘Switching Offer’, confirming they have indeed been granted the bonus.
The high street bank added that customers can deposit the required £1,000 in instalments or as a lump sum.
Nationwide paying free £275 into bank accounts alongside two-word code(Image: Getty)
Nationwide went on: “You can do this by using your card to pay for something in most shops or online. You only need to use it once to meet this requirement,” reports Birmingham Live.
“Recurring card payments count (for example, subscriptions like Netflix or Spotify).
“So do payments using Apple Pay, Samsung Pay or Google Pay.
“You have 31 days to pay in £1,000 and make a card payment from when we open the account. Usually, the account will be open as soon as you finish your application. But sometimes we need to do extra checks first.”
The bank added: “We’ll tell you if we need to do this. If that happens, don’t worry. Your 31 days won’t start until we have everything we need and your account is open.
Nationwide customers could be in for a much welcome cash boost after the move(Image: Ian Forsyth/Bloomberg via Getty Images)
“Once your account is open, we’ll tell you and you can start paying in money. We’ll send your debit card to you as well. You should get it in eight to 10 days after your account opens.
“You have 31 days to pay in £1,000 and make a card payment from when you finish your application. So you can start paying in money and using your current debit card right away.”
The potential total of £275 combines the guaranteed switching reward with possible future profit-sharing distributions.
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Just today, Tuesday, October 14, a customer asked Nationwide on X, previously Twitter, how they can check if they qualify for the £175 switch payment. A spokesperson stepped in to clarify the situation for all customers.
The spokesperson replied: “Hi there, you can check your eligibility for the Current Account Switch Offer before you apply here: http://spr.ly/6018AI1l4, and you can find out more in the Ts&Cs here: http://spr.ly/6010AI1lA.
“If you’d like to discuss this further, please give us a call on 03457 302011 or start a chat via the banking app or internet bank.”