Nationwide Building Society has issued an update about a bonus payment scheme for customers. The group is currently offering one-off payments in a deal open to both new and existing customers.

You can get a £175 payment if you switch a current account with a non-Nationwide provider to a either new or existing FlexDirect, FlexAccount or FlexPlus account. The information page about the offer on the Nationwide website warns that the offer is available for a “limited time only”.

Customers may be wondering when the exact final date will be. Lloyds Bank recently took off the market its £200 switch offer if you moved your current account over to them.

Nationwide was asked for an update about when it will be ending the switch offer. The building society said: “The switching offer will be available for a limited period, but we have not yet confirmed an end date.”

How can you qualify for the £175 switch offer from Nationwide?

To be eligible for the payment, you need to switch a non-Nationwide bank account to a new or existing FlexDirect, FlexAccount or FlexPlus account. You need to do a full switch using the Current Account Switch Service, including closing your old account.

You need to switch over at least two active direct debits from your old account. The switch must be completed within 28 days of requesting it.

Once you have requested the switch, you need to pay in a minimum of £1,000 and make at least one debit card payment from the Nationwide account. You have to do these two things within 31 days of either opening your new Nationwide account, or applying to switching over to an existing account.

You have the option to pay in the £1,000 as one amount or in several instalments. The debit card payment can include most purchases in a shop or online, or a recurring card payment.

Other bonuses from Nationwide

If you are weighing up whether to move over to Nationwide, another factor to bear in mind is that Nationwide often issues other bonus payments to its members.

The group has issued several payments of £100 through its Fairer Share Payment scheme, where it shares out its profits with members. The last round of payments was issued in June and July 2025, with millions of member qualifying.

To get the most recent bonus, you needed to have a qualifying current account, plus a qualifying savings account or qualifying mortgage.

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