Nationwide to pay £85 bonus into customers' bank accounts and names exact date

Nationwide will be paying some of its customers an £85 'bonus' over the next 12 months. Savers can bag themselves the cash boost by singing up to the building society's Flex Regular Saver account.

The account comes with a healthy 6.5% interest rate but only allows to savers to deposit up to £200 a month for 12 months. Customers who put the maximum amount of cash into the account every month will earn themselves £85 in interest - free cash at the end of the account term.

It rewards savers with a little bit of extra money and could be ideal households wanting to put a relatively small amount into savings every month. It's one of a number of savings accounts on offer from Nationwide, which has 17 million UK customers.

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The building society is also paying new customers who sign up to its FlexDirect account £175. The offer is a bid to lure in customers from rival banks.

Money experts like Martin Lewis encourage people looking to make some extra money to hunt around for the best bank-switching cash offers, and say the process is usually fairly straightforward. Martin Lewis' Money Saving Expert (MSE) said: "Switching's usually quick and easy.

"To get the free cash, you need to go via the bank's seven-working-day switch service, which moves across your standing orders and direct debits for you, closes your old accounts and from that point auto-forwards any payments made to it to your new one. You'll also need to pass a not-too-harsh credit check and most require you to switch 2+ direct debits or standing orders across."