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About these terms and conditions

  1. These terms and conditions apply to our Current Account Online Switch Offer. They are separate to the terms and conditions that apply to our current accounts.
  2. If the account you’re switching to is a joint account, these terms and conditions apply to both account holders.

How do I qualify for the offer?

  1. You must meet all the requirements set out in these terms and conditions. You won’t qualify for this offer if any of the exclusions set out in clauses 9 or 10 apply to you.
  2. This offer is only valid on the first sole current account and first joint current account you switch to us, even if we withdraw this offer and launch it again in the future.
  3. You’ll qualify for this offer if:
    • you use our Internet Bank to switch a current account held with another provider to a FlexAccount, FlexPlus or FlexDirect current account you have with us, or
    • you open a FlexAccount, FlexPlus or FlexDirect current account with us through our website, Internet Bank or Banking app and switch a current account held with another provider to that account.
  4. You must complete a full account switch using the Current Account Switch Service. The account you have with another provider must be closed as part of the switch.
  5. You must transfer a minimum of 2 active Direct Debits from the current account being switched to the Nationwide account. Other types of automated payments, such as standing orders and recurring card payments, won’t count towards this.
  6. The switch must be completed within 30 days of you requesting it.

When won’t I qualify – what are the exclusions?

  1. You won’t qualify for this offer if:
    • you switched into an account that isn’t a FlexAccount, FlexPlus or FlexDirect
    • you didn’t use our website, Internet Bank or Banking app to request your switch
    • you didn’t complete a full switch or did not use the Current Account Switch Service to complete your switch
    • you didn’t transfer a minimum of 2 active Direct Debits (other types of automated payments, such as standing orders and recurring card payments, won’t count towards this), or
    • you didn’t complete the switch within 30 days of requesting it.
  2. You also won’t qualify for this offer if:
    • you started your application to open a FlexAccount, FlexPlus or FlexDirect current account with us or requested your switch before this offer was made available. This will apply even if that application or switch is completed after this offer is made available. If we withdraw this offer and make it available again in the future, this exclusion will still apply
    • you’re switching into a Nationwide account that has already been switched into and benefitted under this offer
    • you or a joint account holder already has a current account with us that's being managed by our Collection and Recoveries department at the time the switch completes
    • you, or any of your accounts held with us, are subject to a financial sanction or restraint order. Or we are aware or reasonably suspect that fraudulent activity has taken place, or
    • you’ve previously benefitted from this offer, as set out at clause 4.

If I meet all the requirements in these terms and conditions, how much will I get paid?

  1. If you’re an existing Nationwide member, we’ll pay you £125. You’re an existing Nationwide member if you have a Nationwide current account, savings account or mortgage (excluding buy to let and commercial mortgages). The account can be in your own name or held jointly with another member.
  2. You must have been a member on the day before you requested the switch and still be a member when your switch completes. If you’re switching a joint account, just 1 of you needs to meet the membership requirements.
  3. If you’re not an existing Nationwide member, we’ll pay you £100.
  4. If you’re switching into a joint account with us, you’ll only receive 1 payment into the account for that switch.
  5. You must still have your current account with us when we make the payment to you.

When will I get paid and how will the payment appear on my statement?

  1. We will credit the payment to the current account that you switched into within 10 calendar days of the full switch completing.
  2. The offer payment will appear on your statement as ‘Switching Offer’.

Will the offer be withdrawn?

  1. We may change, replace or withdraw this offer at any time. If we do this and you’ve already requested a switch, you’ll still be eligible for the offer so long as:
    • the switch completes within 30 days of you requesting it, and
    • you meet all of the requirements set out in these terms and conditions and none of the exclusions apply.

Useful information

The Current Account Switch Service

  • When you switch using the Current Account Switch Service, a dedicated team will transfer your payments and details to your new account. It’s a free service. All you need to do is pick the date. You can use both your old and your new account while the transfer takes place, until the switch is finished. Once it’s done, we’ll even close your old account for you.
  • The whole process is backed by the Current Account Switch Guarantee. In the unlikely event that something is missed, you won’t be out of pocket. Any fees or charges will be covered. Your credit rating will be protected, too.
  • You'll need to check if your existing bank or building society is signed up to the Current Account Switch Service by checking the list of participating banks and building societies. If they are not signed up, you’ll need to carry out a manual switch (sorry, but manual switches aren’t included in this offer).

A full switch:

  • closes your old current account down for you
  • moves your outgoing payments across, like your Direct Debits and standing orders
  • transfers any money left in the account across
  • redirects any incoming payments to your Nationwide current account, like your salary
  • takes 7 working days to complete
  • lets you choose when your switch ends, up to 60 days into the future, and
  • means you’re covered by the Current Account Switch Service Guarantee.

A Direct Debit:

  • is set up by a company, using your account number and sort code
  • is often used to pay energy providers, Council Tax bills or credit card bills, and
  • is usually part of a fixed agreement and should only be changed by the company collecting the Direct Debit.

A recurring card payment:

  • is set up by a company, using your account number and sort code
  • is used for things like Netflix, Amazon Prime or magazine subscriptions, and
  • can usually be changed or cancelled by contacting the company taking the payment.

A standing order:

  • is set up by you, through the Banking app, through the Internet Bank or in branch
  • is used to move money regularly between your accounts or to send money to someone else’s account on a regular basis, and
  • can be changed or cancelled by you at any time.

The Current Account Switch Guarantee

The whole Current Account Switch Service process is backed by the Current Account Switch Guarantee. In the unlikely event that something is missed, you won’t be out of pocket. Any fees or charges will be covered. Your credit rating will be protected, too.