Nationwide is offering a tempting £175 bonus for new customers who switch their current account to them before the end of March. Time is of the essence, as the building society will withdraw this offer after this month.
The deal is an account-switching incentive, rewarding those who move from other banks and set up a current account with Nationwide.
The lure of free cash is a strong one, and Nationwide has put such an enticement on the table. However, they've made it clear that the current account switching offer will expire on March 31, leaving people only a few weeks to claim their £175.
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To be eligible for the payment, there are specific steps to follow when opening a current account. Nationwide sets out the criteria: "To qualify for the incentive, customers must complete a full switch using the Current Account Switch Service."
They add, "A minimum of two active direct debits must be transferred to the new account as part of the switch.", reports Birmingham Live. Moreover, "Customers must also deposit £1,000 and make one debit card payment within 31 days."
Opening a new account through Nationwide's website, internet bank, or mobile app is necessary, and the switch must be initiated during the application process. Not to leave out existing patrons, Nationwide confirms, "Existing customers can also switch a current account they hold with another provider to an existing account they hold with Nationwide via the internet bank."
The final stipulation is that "The switch must be completed within 28 days of it being requested."
Tom Riley, Nationwide Building Society’s director of retail, commented: "Our switching incentive is a demonstration of how we are making banking more rewarding for customers."
He also urged: "We would encourage anyone looking to switch their account to do so now to benefit from the offer as it will be withdrawn later this month."
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