The Nationwide switch offer is available to new and existing customers
This is a welcome return of the switching bonus from Nationwide, and once again it’s good news for couples as there’s potentially three switches available.
You can get the bonus if you’re a new and existing customer – and if you’ve had the bonus before, although only in certain circumstances. And there’s a chance of another £100 per customer next year too.
Here’s everything you need to know.
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How much can you get for switching to Nationwide?
This new cash incentive launched on Thursday 21 May 2026 and offers £175.
Unlike other banking offers, both your personal and joint account are eligible for the offer, meaning £525 is available for a couple.
Who qualifies for the switching offer?
New customers can switch to one of Nationwide’s current accounts or if you’ve already got a FlexDirect, FlexAccount or FlexPlus account, you can can switch an account from another bank to it and get the bonus.
What account do you need for the offer?
To get the money you need to have one of the following Nationwide accounts and use the Current Account Switch Service to transfer another account into it. If you don’t already have one, you’ll need to open one online or via the Nationwide app: The accounts are:
- FlexAccount
- FlexDirect
- FlexPlus
Can you get a personal and joint Nationwide switching bonus?
Nationwide is the only switch offer that potentially lets you have two payments. There’s one available for switching in a personal current account to a personal Nationwide account. And another (as well or instead) if you switch into a new or existing joint Nationwide account.
However, with joint accounts, you can only get one payment per account rather than per person. But that means there’s a total of £525 up for grabs for couples.
Can I get the money if I’ve previously switched to Nationwide?
You won’t get the £175 if you’ve had a switching bonus from Nationwide before. The building society started offering these incentives on 18 August 2021.
However, there are two exceptions.
If you received the offer before on a sole current account, and you’re switching into a joint current account that hasn’t had the offer before, you can still get it. And vice versa.
What are the requirements for the Nationwide switch offer?
Once you have the eligible current account and meet the other eligibility criteria, you’ll need to do the following.
Switch from a different bank
You’ll need to switch from a different bank to Nationwide using the Current Account Switch Service. This moves across all money, standing orders, direct debits and incoming payments, while also guaranteeing against anything going wrong. However, your old bank account must be closed in order to get the free cash. You also can’t switch from a Virgin Money account.
The switch will take seven working days, though you can set a later date if you want. However, Nationwide require the switch to take place within 28 days of opening to qualify for the cash for new account holders. If you already have an account that 28 days starts from when you start the switch application.
You won’t be eligible if you requested to switch before 21 May 2026 even if your switch completes afterwards. Though I expect you could always start another switch after that one completes.
You also need to make sure that you use online or app banking to start the switch. The terms and conditions don’t include phone or branch banking as options.
Switch two direct debits
You’ll need to switch over two direct debits. The terms no longer say it must be active, though I’d always err on the side of caution if possible and set up one that pays out from the old account before it’s moved over.
If you’re short on ideas for new direct debits, then read this article sharing some easy and cheap payments to set up. These don’t need to stay active once you’ve got the switching money.
Remember, the old account you use for the switch will be closed and you won’t be able to use it anymore.
Deposit £1,000
You also need to add £1,000 to your account within 31 days. This can be done in more than one deposit, and won’t have to stay in the account for more than a day (if that). So you could add a smaller amount, say £500, withdraw it, and then pay it in again to hit the total.
This money can’t come from another Nationwide account, even if it’s not in your name.
Use the debit card
Another extra task in the criteria is to use your Nationwide debit card once within 31 days. There’s no minimum spend required.
The following won’t count towards your qualifying transaction:
- Cash withdrawals
- Gambling
- Cryptocurrency transactions (including payments to crypto exchanges, foreign currency transactions)
- Travellers’ cheques
- Money orders
- Loan
- Lease and mortgage payments
- Money transfers
This shouldn’t be an issue. However, we’ve written about ways to use your debit card to hack rewards if there isn’t anything you plan to buy
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When will you get paid?
The money will reach your account within 10 days of the switch completion. Once you have the cash you can cancel the Direct Debits if they’ve been set up specifically for this bonus. You can also switch away to another bank if you wish.
When will the Nationwide bank switch offer end?
There’s no set end date for the offer.
Extra £100 “Fairer Share” payment
For the past four years, Nationwide customers who meet some simple criteria have been rewarded with a £100 “Fairer Share” payment in May.
If you want to be eligible in 2027 then it’s worth reading how Nationwide’s member bonus worked in previous years so you don’t miss out.
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Is Nationwide any good?
The £100 Fairer Share bonus paid every year for the last four years is a huge boost for having a Nationwide account.
If you’re worried about what your bank (or building society in this case) is doing with your money then in many ways Nationwide current accounts are among the best available.
Though it doesn’t offer the top ethical current account, these accounts are free (Triodos charges £3 a month – here’s our review). And you can be assured your cash isn’t being used to fund things that contribute to climate change, armed conflict or other issues you might not agree with.
It’s also always had great customer service (in my experience at least) and offered decent extras such as interest and overdrafts on accounts.
Previously I’ve had issues with the app, but it’s improved a lot recently. Though it’s not as good as the likes of Starling or Monzo, it’ll do most things you need, and I’ve no doubt it’ll improve.
What do customers say?
Customer reviews on our sister site Smart Money People rate the FlexDirect account at 4.72 out of 5, liking the customer service and the availability of high street branches. The app is where people think it could do better.
Which Nationwide account should I choose?
There are three accounts where you’ll be eligible for the bonus.
The most popular is the FlexDirect account. This offers 5% interest on £1,500 and up to £10 a month cashback on spending for the first 12 months. However, you can only get this offer the first time you get this account, so you won’t get either offer if you’ve had it before. There’s also a £50, interest-free overdraft buffer.
The FlexPlus is a packaged account that comes with worldwide family travel insurance, phone insurance and breakdown cover. It increased in price to £18 a month in December 2024, which is quite expensive compared to alternatives.
Finally, it’s the FlexAccount. This is a no-frills account but it’ll do everything you need it to do with no charge. I’d suggest this is the best bet for most people taking advantage of this offer.
All three will get you access to Nationwide’s 6.5% paying regular saver.
Nationwide Flex Direct
| Benefits | £50 0% overdraft buffer for the first 12 months |
| Interest | 5% AER (fixed) interest on the first £1,500 saved for 12 months (drop to 1% after a year) |
| Up to £5 cashback on card spending and £5 cashback on Direct Debit payments a month for 12 months | |
| Access to 6.5% AER (variable) Flex regular saver (max £200 a month) | |
| Fee | None |
| Requirements | Pay in £1,000 a month |
| Multiple accounts? | Two – one personal and one joint |
| Notes | Transfers in from other Nationwide accounts don’t count towards the £1,000 |
Is it worth switching to Nationwide?
Andy’s analysis
Should you take advantage of this offer? Well, if you’re not already a Nationwide member then absolutely.
I’ve written before about why it’s good to have more than one current account, so hopefully you’ll have a spare account specifically for nabbing these bonuses.
If not and you’re thinking of moving your main account over, then obviously check if there are benefits you’ll lose if you do close that old account. Or just switch to another bank later in the year if there’s another offer available.
Switching summary
Nationwide switch offer: £175
| Switching bonus | £175 |
| Bonus paid | Within 10 days of the switch completing |
| Who can get it? | New and existing customers |
| Requirements | Open a new FlexPlus, FlexDirect or FlexAccount |
| Switch using the Current Account Switch Service and close your old account within 28 days of starting the switch | |
| Transfer two direct debits | |
| Deposit £1,000 within 31 days | |
| Make one debit card transaction within 31 days | |
| The old account must be from a different bank | |
| Not received a bonus from a switching offer since 2021 | |
| Offer ends | Unknown |
Are there better switching offers?
Cash incentives for switching come and go. You can keep up to date with all the latest offers here.
Don’t forget that once you’ve switched, you can always switch again later as long as you need the individual offer terms and conditions.
The best bank switch bonuses
Check out our list of all the bank switch offers you can get when opening a new current account
