Nationwide Building Society has brought back its popular £175 switching bonus, giving people a simple way to earn extra cash by moving their current account. The offer started on September 18, 2025, and is open to both new and existing customers. With household costs rising, deals like this can be a helpful little financial boost. Thanks to the Current Account Switch Service (CASS), switching accounts is fast, secure, and straightforward. Nationwide’s offer stands out because it has clear rules, a generous reward, and a quick payout. However, to get the bonus, customers must follow all steps carefully within the deadlines.
What the Nationwide £175 Bonus Means
The bonus is part of Nationwide’s current account promotion. Anyone who switches their account from another bank or building society can get a one-time payment of £175. But you have to meet all the bank’s requirements to receive it. This offer is only available for a limited time and can end at any moment. If you are interested, it’s best to act quickly and ensure you complete every step correctly.
Which Accounts Can Get the Bonus
Not every Nationwide account qualifies for the £175 reward. To be eligible, you must either open a new account or already have one of the main current accounts, such as FlexDirect, FlexAccount, or FlexPlus. FlexDirect pays 5% interest on balances up to £1,500 for 12 months and includes an interest-free overdraft during the same period. FlexAccount is a free everyday account suitable for regular use. FlexPlus is a packaged account with a monthly fee that includes extras like travel insurance and mobile phone cover. If you switch into a different type of account, such as a savings-only account or a business account, you won’t get the bonus.
How to Claim the £175
To receive the payment, there are two main steps. First, you need to open a new eligible account or use an existing one and request a full switch using the Current Account Switch Service. A full switch closes your old account and moves all regular payments automatically. The switch must be finished within 28 days of opening the new account or requesting the switch. As part of the switch, you must transfer at least two genuine Direct Debits. Regular standing orders, subscriptions like Netflix, or manual transfers do not count.
The second step is to complete a few actions within 31 days. You must deposit at least £1,000 into your new Nationwide account. This can include money moved during the switch but cannot come from another Nationwide account or from money already in your account.
You also need to make at least one payment with your Nationwide debit card. Contactless payments, online purchases, and digital wallets like Apple Pay or Google Pay all count. However, some transactions are excluded, including cash withdrawals, mortgage or loan payments, gambling, cryptocurrency purchases, foreign currency, or money transfers. Completing all steps within the deadlines is essential to get the bonus.
When Will You Get the Payment
After completing all the requirements, Nationwide will deposit the £175 into your account, usually within 10 days. On your bank statement, the payment will appear as ‘Switching Offer.’ If you switch into a joint account, only one payment of £175 is made, not one per account holder. Also, only one bonus is paid per switch, even if a person opens multiple accounts.
Who Cannot Claim the Bonus
Some people are not eligible for the bonus. If you have already received a Nationwide switching bonus since 2021, you may not qualify. Exceptions apply if you previously switched to a sole account but now move to a joint account, or vice versa. Customers whose accounts are under fraud checks, financial sanctions, or managed by the Collections and Recoveries department are also not eligible. Finally, switch requests made before September 18, 2025, are excluded from this offer.
Can the Bonus End Early
Nationwide can change or withdraw the offer at any time without notice. However, if you start your switch before the offer ends and meet all the conditions, you will still receive the £175 payment. The Nationwide £175 switching bonus is a simple way to earn extra money while moving your current account. The process is safe and quick through the Current Account Switch Service, and the reward can appear within 10 days of completing the steps. For those who qualify, it’s a convenient way to boost your finances in 2025.