Nationwide has launched a new £200 switching deal, but it’s just for its existing members. If you have a mortgage, savings account or even an exisiting current account, and switch your main account to Nationwide you can stand to get the cash bonus. Here’s how to get the money and maximise what you can earn over 12 months. For a full list of switching deals on the market, you can visit our switching deals guide.
Is Nationwide currently running a switching offer?
Yes. Existing members who complete a full switch using the Current Account Switch Service to a new or existing FlexPlus, FlexDirect or FlexAccount will receive £200.
To claim the latest Nationwide switch offer you need to:
Be a qualifying member as of 31 March 2025
Complete a full switch to a new or existing FlexPlus, FlexDirect or FlexAccount
Make the switch online or through the Nationwide app
Close your account with your other bank
Move over at least 2 direct debits
Deposit £1,000 and make 1 debit card payment within 31 days
Complete your switch within 28 days
Who can get the deal?
You can only get this offer if you’re switching into a sole or joint account that hasn’t had one of Nationwide’s switch offers since 2021.
The deal is only available to qualifying members, so you’ll need to check if you’re eligible first. You are a qualifying member if you had an eligible mortgage, savings account or current account on 31 March 2025.
If you’re unsure you can use the eligibility checker on Nationwide’s website.
When the offer ends
There’s no end date listed on Nationwide’s site, but it does say that the offer is only available for a limited time.
Our expert says: Kate Steere explains why it pays to be a Nationwide customer
"It pays to be a Nationwide member, literally! Nationwide is one of the only banking providers that gives cash payouts for loyalty. It's made a "Fairer Share Payment" to eligible members for 3 years in a row, and in 2025, it made an extra £50 payment as a thank you to customers following its purchase of Virgin Money. Meaning, if you've been an eligible member since 2023, you'll have made a total of £350 to date. This is why we named Nationwide our 2025 Provider of the Year for Banking Perks. "
What switching offers have been available in the past?
Sep 2024-March 2025
Nationwide offered £175 to switch to a FlexPlus, FlexDirect or FlexAccount.
May-July 2024
Nationwide offered £200 to switch over a non-Nationwide account with at least 2 direct debits. You had to already be a Nationwide member and open a FlexPlus, FlexDirect or FlexAccount account.
September-December 2023
This was very similar to the latest £200 switch bonus, except you didn’t need to be a Nationwide customer beforehand to qualify.
October-November 2022
Another £200 switch bonus from Nationwide, matching the key terms from the September-December 2023 deal which would arrive a year later.
August 2021
Nationwide’s £125 switch offer had many of the same requirements: switching to a selected bank account and transferring over at least 2 direct debits. But if you weren’t already a Nationwide member, the switch bonus was capped at £100.
February 2018-March 2020
Not a switch offer exactly, but a refer-a-friend bonus with a juicy £200 up for grabs – £100 for you and £100 for your friend. They’d have to make a full switch, following similar steps to the standard switch bonuses with the 2 direct debits and so on.
June 2017
The £100-each refer-a-friend bonus again. Unlike the previous run, this was opened up to customers who weren’t already a Nationwide customer.
February 2016
This refer-a-friend bonus was similar to the others run by Nationwide, except you had to have been an existing customer. No freebies for newbies back then.
August 2015
The debut of the £100 refer-a-friend bonus at Nationwide came in August of 2015. You could claim the offer up to 10 times over a year, so you could’ve pocketed a cool £1,000.
February 2014
Before it got a welcome boost of £100, the refer-a-friend bonus at Nationwide began at a modest £50. The most popular among you could collect cash on this deal up to 10 times per year for a maximum of £500.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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Kate Steere is an editor at Finder, specialising in fintech, banking and cryptocurrency. She has previously written for The Motley Fool UK and Fitch Solutions, where she covered a wide range of personal finance topics and kept a close eye on market trends. Kate has a Bachelor of Arts in Modern History from the University of East Anglia. When not working, she can usually be found curled up with a good book or heading out for a run. See full bio
Kate's expertise
Kate has written 142 Finder guides across topics including:
Find out how you can open a new current account with NatWest and take advantage of the latest switching bonus.
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