Building society Nationwide is offering a welcome financial boost to households ahead of the festive season, with a £175 bonus payment available for new customers.
How to Claim Your £175 Payment
The offer is available to people who join Nationwide from a rival bank by opening a FlexDirect account. To secure the free cash, new customers typically need to complete a few steps, which include moving a specific amount of money into the new account and setting up some direct debits.
Finance experts are highlighting this as a straightforward way to earn some easy money. Aaron Peake, a Personal Finance Expert at CredAbility, commented, "If you’re not getting anything back from your bank, a simple switch this week could put extra cash in your pocket before Christmas."
The Ease of Switching Banks
The process of changing bank accounts has been greatly simplified. The Current Account Switch Service handles most of the administrative hassle, automatically transferring direct debits and ensuring your salary is paid into the correct account.
Peake added, "It’s one of the easiest ways to make money legally. You’re not borrowing or buying anything you don’t need. Some people even earn thousands by switching repeatedly."
However, he also issued a word of caution: "One thing to be aware of is that switching triggers a credit check." This could temporarily affect your credit report, so if you are planning to apply for a major loan like a mortgage, it may be wise to secure that first.
Act Quickly for a Christmas Payday
For those hoping to receive the £175 in time for Christmas, prompt action is essential. The switching process can take up to 30 days to complete, meaning you need to start the process soon.
Nationwide is not the only bank running such promotions. Other high street names like Barclays, Santander, and Lloyds have similar offers, making it a good time to shop around for the best current account deal.
