Nationwide £175 Payment Update – Here’s What You Need to Know
Nationwide Building Society has recently updated its details on a special £175 payment offer for customers who switch their current accounts. This enticing deal is available for individuals opening a FlexPlus, FlexDirect, or FlexAccount. Notably, even if you already hold one of these accounts, you can still qualify if you switch from a non-Nationwide bank account. However, the offer is marked as "limited time," and while there is no set end date, it's wise to act promptly.
To qualify, you'll need to fulfill a few straightforward requirements. First, you must switch at least two active direct debits and use the Current Account Switch Service. The switch process must include closing your non-Nationwide account and completing the switch within 28 days. Additionally, a deposit of at least £1,000 is required within 31 days of initiating the switch, and you need to make at least one debit card transaction.
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Meanwhile, existing Nationwide customers may have something extra to look forward to as well. Many are set to receive a £100 payment under the "Fairer Share Payment" initiative. This annual bonus is part of Nationwide’s effort to share its profits with members who hold qualifying accounts. To be eligible, customers must meet specific criteria, including maintaining a qualifying current account as of March 31, 2024, and having at least £100 in savings or an active residential mortgage balance.
While there’s no official confirmation yet for 2025, Nationwide's CEO Debbie Crosbie has hinted at the potential continuation of the Fairer Share Payment, emphasizing the company’s strong financial position. With a history of rewarding loyalty, this initiative could offer a significant boost to qualifying members in the coming year.
If you’re considering taking advantage of Nationwide’s current offers, now is a great time to explore the opportunities and ensure you meet the eligibility criteria. These payments underscore Nationwide’s commitment to its members, making it a standout choice in the banking landscape.
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