Nationwide giving customers free £175 - see if you're eligible

You could qualify for the extra cash

Nationwide will pay £175 to new customers who switch their accounts. The bank said customers who follow steps to move their main current account will receive the cash.

New customers will need to follow a number of steps in order to be eligible for the money. This includes closing your account with your current bank and switching at least two active direct debits.

You could receive the cash within 10 days, Nationwide said. Banks across the UK tend to offer cash incentives to customers to entice them from rivals.

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Nationwide said: "Switch your main current account to us online using the Current Account Switch Service, and complete the switch within 28 days. Don’t forget to close the account you are switching from.

"Everything is taken care of, including making sure all your payments are transferred. The process is simple and only takes seven working days.

"You will need to transfer at least two direct debits as part of your switch to get your £175." It added: "Once you have requested the switch, pay in at least £1,000 and buy something using your new debit card within 31 days.

"Then, look forward to receiving your £175. It could be in your new account within ten days. This offer is available for a limited time only."

To switch you account, there are a number of steps you have to take. Nationwide said: "How to get £175 when you switch:

• Switch a non-Nationwide bank account with at least two active direct debits to us
• Switch to us online
• Close your non-Nationwide bank account when you switch. We're able to do this for you - just make sure you select this option when you’re requesting your switch
• Complete your switch within 28 days

"And within 31 days of requesting the switch, you need to:

• Put at least £1,000 into the account
• Pay for something once using your debit card. Some transactions - like gambling - don’t count towards this, so make sure you check the terms."

You can get £175 by switching to a FlexPlus, FlexDirect or FlexAccount, Nationwide added. If you already have one of these accounts, you can still switch over your non-Nationwide bank account and get £175 if you log in to its internet banking site.