Nationwide launches £200 switching offer


Nationwide has launched a £200 current account switching deal with a regular savings account at 8% AER.

Good news for those keeping an eye out for the newest switching deal. As we enter autumn, more and more deals are coming onto the market. The latest one is a £200 switching offer from Nationwide.

Nationwide is offering £200 to switch to one of its current accounts: FlexPlus, FlexDirect or FlexAccount. Alongside this, customers will be able to access its Flex Regular Saver at 8% AER.

How do you get the £200 bonus?

In order to qualify for the £200 switch incentive, you’ll need to complete a full switch using the Current Account Switch Service. A minimum of 2 active direct debits must also be transferred to your new account.

The switch must be completed within 60 days of it being requested and you must not have received a switching offer from Nationwide since 18 August 2021.

You can pick from any of the society’s main 3 current accounts. FlexAccount is its everyday banking account, FlexDirect pays 5% AER credit interest, while FlexPlus is a packed account with a fee of £13 per month.

See the full details in our best bank account switching deals guide to help you compare bank offers and incentive schemes.

What else is on offer?

If you open any of the 3 main Nationwide current accounts, you’ll also get access to its Flex Regular Saver. At the time of writing, this has a market-leading interest rate of 8% AER.

You can save up to £200 per month, so if you save the full amount each month you stand to earn £104 in interest after 12 months.

Other current account switching offers

We’re starting to see more current account switching offers returning to the market. If that Nationwide deal doesn’t tick your boxes, first direct’s long-running £175 switching offer is a good option. Especially if you make use of its linked savings account at 7% AER.

Meanwhile, TSB is offering a £150 switching incentive and a further £60 cashback when you make 20 or more debit card payments each calendar month. Full analysis in our best bank account switching deals guide.

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