Nationwide is offering a generous £175 bonus to new customers who switch their bank accounts before Christmas. This special payment is part of an incentive aimed at encouraging customers to join Nationwide from rival banks.
The offer targets households looking for an easy way to boost their finances during the holiday season. Similar promotions are also running at other major banks, including Barclays, Santander, and Lloyds, making this a great time to explore your options.
To qualify, new customers must open a FlexDirect account and fulfill a few simple requirements. Typically, this involves transferring a specific amount into the new account and setting up direct debits. The process has been streamlined considerably thanks to the Current Account Switch Service, which makes switching banks hassle-free and efficient.
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Experts advise taking swift action, as account switching can take up to 30 days to complete. Aaron Peake, Personal Finance Expert at CredAbility, emphasized the benefits: “If you’re not getting anything back from your bank, a simple switch this week could put extra cash in your pocket before Christmas. It’s one of the easiest ways to make money legally without borrowing or unnecessary spending. Some people even earn thousands by switching repeatedly.”
He added, “There are rules to follow—like a one-off deposit or a minimum monthly pay-in—but these are straightforward. Your direct debits move automatically, your salary goes into the right account, and everything is managed easily via the app.”
Peake also warned that switching accounts triggers a credit check, which may temporarily affect your credit report. This could influence decisions by lenders when applying for mortgages or car finance. “If you’re planning to apply for a big loan soon, it’s best to wait until the loan is approved before switching,” he advised.
With the holiday season fast approaching, now is the perfect time to consider switching banks and take advantage of the £175 bonus Nationwide offers.