Nationwide has announced changes to one of its most sought-after banking incentives, with a final deadline set for March 31, 2025. According to Birmingham Live, this offer has attracted thousands of new customers, making it one of the most competitive promotions in the banking sector.
With time running out, Nationwide is urging those interested to take action soon before the opportunity is withdrawn. Customers looking to benefit before the deadline must meet specific eligibility criteria, including completing a full account switch and fulfilling key banking requirements.
How to Qualify for the £175 Switching Bonus
To receive the £175 incentive, customers must complete a full account switch using the Current Account Switch Service (CASS) and meet the following criteria:
- Transfer a minimum of two active Direct Debits to the new account
- Deposit at least £1,000 within 31 days of opening the account
- Make at least one debit card payment during this period
- Open the new account via Nationwide’s website, Internet Bank, or Mobile Banking App
Existing Nationwide customers can also switch an external current account into their existing Nationwide account via the Internet Bank.
The switch must be completed within 28 days of the request to qualify for the payment.
Nationwide Urges Customers to Act Fast
Nationwide has encouraged anyone considering the switch to apply as soon as possible to ensure they secure the payment before the deadline.
Tom Riley, Director of Retail at Nationwide, reinforced the urgency of the offer:
“Our switching incentive is a demonstration of how we are making banking more rewarding for customers. We would encourage anyone looking to switch their account to do so now to benefit from the offer as it will be withdrawn later this month.”
What Happens After March 31?
After the incentive ends, customers will no longer be able to claim the £175 payment when switching to a Nationwide current account. However, the bank may introduce new offers in the future, similar to how it has periodically reintroduced switching incentives in previous years.
For now, those interested in earning £175 for switching their account should act quickly before the March 31 deadline.
