Nationwide set to axe £175 bonus in days – how to qualify | Personal Finance | Finance
Brits have less than a week to claim a free £175 from Nationwide as part of a deal. The building society will soon remove its current switch offer on March 4, 2026, at 23:59, which means people have just days to complete their switching applications if they want to get the cash.
The incentive, which is used by a number of banks, allows customers to claim money for simply switching their current account. To claim Nationwide’s payment, a full switch via the Current Account Switch Service (CASS) to one of Nationwide’s three main current accounts must be completed.
The building society has also seemed to be the most popular among customers, as the most recent CASS figures show Nationwide recorded the strongest net switching gains of any provider.
Now, the bank is reminding people who have yet to make use of the offer to do so before time runs out.
Fred Powell, the head of Product at Nationwide Building Society, said: “Our switching incentive is a demonstration of how we are making banking more rewarding for customers, and the fact we have topped the switching tables consistently shows customers agree.
“We would encourage anyone looking to switch their account to do so now to benefit from the offer as it will be withdrawn on March 4.”
To get the £175, you must switch to a FlexPlus, FlexDirect, or FlexAccount account.
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The deadline for the switching deal comes as figures suggest that many current accounts are generating no returns for their holders, reports GB News.
According to savings app Spring, 6.5 million accounts holding more than £10,000 are earning zero interest, with the average balance in these accounts at £35,428.
Derek Sprawling, Spring’s head of Money, said: “It’s staggering that over six and a half million current accounts hold over £10,000 and are earning absolutely nothing, with some people leaving six-figure sums languishing in accounts that erodes the real value of their money.”
