Nationwide to give customers free £175 before Christmas - how to get it

Nationwide, the banking giant, has announced that it will be offering £175 to new customers who open a FlexDirect account. This move is seen by financial experts as an easy way to earn some extra money ahead of Christmas.

The offer from Nationwide was spotlighted by Martin Lewis' Money Saving Expert (MSE). While there's no immediate minimum deposit requirement, £1,000 must be deposited within 31 days of initiating the switch, and two direct debits need to be transferred over.

MSE suggests that those who start the process now should receive the money by mid-December.

This offer is one among several bank-switching deals currently available from high street banks. MSE described the Nationwide deal as: "Another strong service contender here, and it gives you 5% fixed interest for 12 months on current account balances, but only on up to £1,500. The debit card cashback looks good."

"It has a linked 6.5% AER variable regular saver you can put £200/month in for one year (max it out for £85 interest). To get the free cash: Switch 2+ direct debits across, then pay in £1,000+ and spend once on the debit card within 31 days of requesting the switch.", reports Birmingham Live.

Financial experts are advising individuals seeking to earn some additional income to explore the current market deals, as switching accounts could potentially lead to easy money.