Nationwide customers waking up to free £175 payment from bank

Nationwide customers are set to receive a free £175 payment as part of a major Cost of Living boost. The UK's largest building society is offering an incentive for customers who wish to switch their bank accounts to them in the run-up to Christmas. To qualify for the Nationwide Building Society's FlexDirect deal, customers must not have switched into a Nationwide account or received switch cash from Nationwide since 18 August 2021.

Eligible individuals must then open the account online or via the app. Customers can also switch to an existing FlexDirect account, but they won't be eligible for the five percent interest or one percent cashback perks. The account must be switched from a different bank, including at least two Direct Debits within 28 days.



READ MORE France to introduce new border checks as tourists face 'sporadic' delays Within 31 days of requesting the switch, customers must deposit at least £1,000 and make at least one debit card payment. The £175 bonus will be paid within 10 days of meeting all the criteria, as explained on Nationwide's website in its terms and conditions. A £175 bonus is available by switching to a FlexPlus, FlexDirect or FlexAccount.

Existing account holders can still switch over their non-Nationwide bank account and receive £175 if they log in to the internet bank, provided they meet the other qualifying criteria for the offer, reports Birmingham Live . Nationwide has stated: "Switching your bank account is designed to be simple, reliable and stress-free. You can switch in just 7 working days, and our dedicated team will move over your payments, balance and even your payees.

" They further added: "The whole process is backed by the Current Account Switch Guarantee. So, in the unlikely event that something is missed, you won't be out of pocket. Any fees or charges will be covered.

And your credit rating will be protected too.".