From 23:59 on 4 March 2026, Nationwide will withdraw its £175 current account switching incentive, which it pays to those switching their current account.
The incentive has proved popular with switchers, with the latest Current Account Switch Service report showing Nationwide as having the highest net switching gains of all providers. Nationwide has placed as the number one bank to switch to for the last four quarters in a row*.
The incentive is another example of how Nationwide demonstrates the value of a modern mutual by investing profit for the benefit of members. Last year Nationwide returned £4 million to eligible members through its £100 Fairer Share payment, while it remained first for customer satisfaction amongst its peer group for the 13th year running.**
Fred Powell, Head of Product at Nationwide Building Society, said: “Our switching incentive is a demonstration of how we are making banking more rewarding for customers and the fact we have topped the switching tables consistently shows customers agree. We would encourage anyone looking to switch their account to do so now to benefit from the offer as it will be withdrawn on 4 March.”
Switching Incentive
To qualify for the incentive, customers must complete a full switch using the Current Account Switch Service.
Customers can switch to one of the Society’s three main current accounts:
- FlexPlus: a market-leading packaged account with benefits including worldwide family travel insurance, mobile phone insurance, UK and European breakdown cover and commission-free usage abroad for £18 per month.
- FlexDirect: an online account paying 5% AER credit interest and offering 1% cashback on debit card spend for the first 12 months.
- FlexAccount: an everyday bank account where customers can bank online and in branch for no fee.
- Ends -
For details on the switching eligibility please see - £175 when you switch your bank account | Nationwide
*Current Account Switch Service statistics - Pay.UK
**Nationwide brand lead at March 2025: 7.5%pts, March 2024: 5.5%pts. © Ipsos 2025, Financial Research Survey (FRS), for the 12 months ended 31 March 2013 to 12 months ended 31 March 2025
