Times are challenging for many of us right now. We want to help by making saving money simple.
So, we’ve worked with energy switching service, Switchd, to offer our members a free 6-month subscription.
What is Switchd?
Switchd is an energy switching service that makes changing energy providers quick and easy.
With Switchd, you could save around £210 per year* on your energy bills.
How does it work?
For subscribers, Switchd check the whole energy market every day to find the cheapest deals. They check green energy options too. If they find a deal that’s cheaper than the one you’re on, they’ll automatically switch you to it, saving you time and money. On average they’ll switch you every 6 to 9 months.
Unlike free energy switching services, for a small monthly subscription, Switchd scan the whole energy market, not just some of it. So you gain access to the very best deals and the biggest savings.
Get a 6 months' free subscription to Switchd
To help you make savings with Switchd, we’re offering Nationwide members free access to any Switchd paid plan for your first 6 months. Paid plans range from £1.99 to £4.99 a month, and you can choose the plan that suits you best.
What happens when the offer ends?
Switchd charge in advance every 6 months. So unless you’ve cancelled, once your 6 months free offer is up, Switchd will charge you your first 6-month payment, according to the plan you’re on at that time. For example, if you’re on their standard £3.49 a month plan, you’ll be charged £20.94 when your free offer period ends, and then every 6 months after that. A free plan is also available, which you can switch to at any point, although this plan will not scan the whole market and therefore you may not save as much as you would on the paid plans.
You can also change your plan, switch to a free one or cancel at any time, but if you’ve just been switched to a new energy deal, you may not be entitled to a refund.
*Based on the saving Switchd would make for a typical UK household (as defined by OFGEM in April 2020, using 12,000 kWh of gas and 2,900 kWh of electricity per year) on a standard variable tariff , in the 'Eastern'** energy supply region as at 7th July 2021, including Switchd’s subscription fees (assuming 12 months of Switchd ‘standard’ price plan). Original tariff cost of £1,127 p.a, new tariff cost of £875 p.a, and Switchd fee cost of £41.88 p.a.
**Eastern supply region is the typical region used for energy comparisons, and the region where Switchd complete the most switches
Questions about the Nationwide offer
Why are Nationwide offering this?
Energy is one of the largest of the household bills, yet over half of the UK are on the most expensive tariff their supplier has to offer***. Switching energy suppliers is time-consuming and frustrating, and using a comparison site could mean that you miss out on some of the best deals out there. Switchd solves this problem by continually checking the market to make sure you’re on the best deal, and automatically switching you whenever you can make an annual saving of more than £50 through switching, which normally happens every 6-9 months.
***Source: OFGEM: State of the Energy Market 2019, October 2019
Why did we choose Switchd?
We chose Switchd because they offer an impartial service to their customers. It’s important to us that any service we recommend to you, as a member, has your best interest at heart, and we believe that Switchd does so. Instead of making their money from energy suppliers, they do so in the form of a small monthly subscription, so their sole aim is to get you on the best deal. This is also the reason that we invested in Switchd in 2019.
Who is eligible for the offer?
Any Nationwide member. You're a member if you have a current account, mortgage or savings account with Nationwide.
What happens if I close my Nationwide account partway through the offer period?
This won’t affect your free trial - you’ll still get your full 6 months.
Will the discount apply from when I first sign up or after my first switch?
Your 6-month free membership will begin at the point of your first switch.
If I cancel within 6 months, will any Switchd charges apply?
No - Switchd won’t charge you anything.
Your options with Switchd
Can I choose to switch between green providers only?
Yes. In your account settings in Switchd, you’ll be able to select to be switched to green tariffs only.
Can I decide to opt out of switching to green tariffs at a later date?
You can always revisit your settings and revise your choices. This won’t change your current tariff, but it will affect your next switch.
Can I choose to never pay exit fees if I don't want to?
This can be controlled in your Switchd account settings. You won’t be able to choose to only be switched to tariffs that don’t charge exit fees. But you can ask Switchd not to switch you away from a supplier until the period in which you’d be charged an exit fee for leaving has passed.