People could get free £175 from Nationwide before Christmas - full list of eligibility rules

People could get free £175 from Nationwide before Christmas - full list of eligibility rules Not everyone can get the offer though Nationwide customers could get £175 payment when they make a switch - and you could get it just in time for Christmas. Nationwide confirms that customers can get the payment into their bank account "within 10 days of you meeting all the requirements." The account must be open when the bank makes the payment. The payment will show on your statement as "Switching Offer". The bank further confirms that if you're switching to a joint account, you’ll only get one £175 payment. How to get Nationwide's £175 switch offer In its T&C's, Nationwide confirms this switch "runs from May 21 2026 until the offer ends." It confirms: "We may end, change or replace this offer at any time. If we do this, and you’ve already requested a switch, you’ll still get this offer if you meet all the requirements." - Choose an account and apply - Switch to a new or existing FlexDirect, FlexAccount or FlexPlus. You need to switch from a non-Nationwide or non-Virgin Money current account. Your old account needs to have at least two Direct Debits for us to move over. - Start your switch - Start a full switch using the Current Account Switch Service. A full switch includes Natiowide closing your old account. Your switch must be completed within 28 days. - After you apply - Pay in £1,000 and make one debit card payment. You need to do this within 31 days of your new account opening or when you applied to switch to an existing account. Restrictions apply. Nationwide notes: "This must be the first time you've had one of our switch offers on an eligible sole or joint account. We may end, change or replace this offer at any time." The bank states that you may not get this offer if: - You are switching from a current account already held with Nationwide Building Society including under a different trading name, such as Virgin Money. - You requested your switch before May 21, 2026, even if your switch completes after this date. - You requested a switch after the offer was withdrawn. - 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 with us, are subject to a financial sanction or restraint order. Or if we think there’s fraud or other unlawful things happening on your account. Where can the £1,000 money come from? You can pay the £1,000 in instalments or as a lump sum. For example, it can come from: - money moved over from your old account as part of the switch - your salary, if you're paid into your Nationwide account after the switch has completed - transferred in from another account not held with Nationwide It can't come from: - money already in the account if you're switching into an existing account - another Nationwide account. Even one not in your name - Visa credits What transactions count for the debit card payment? Paying for something in most shops or online will count as a card payment, and you only need to do this once to meet the requirement. Recurring card payments such as subscriptions like Netflix or Spotify count too. The bank notes that most payments made via Apple Pay, Samsung Pay or Google Pay also count. They may not count if they’re for a type of transaction that isn’t eligible. These transactions don't count: - Gambling - Cryptocurrency - Cash withdrawals - Cash-type transactions, like buying foreign currency or travellers cheques - Loan, lease and mortgage payments - Money orders and money transfers How long do I have to make the £1,000 deposit and card payment? If you're switching to a new account, you have 31 days to pay this sum and make a debit card payment from when Nationwide open the account. It explains: "Usually, the account will be open as soon as you finish your application. But sometimes we need to do extra checks first. "We’ll tell you if we need to do this. If we do, don’t worry. Your 31 days won’t start until we have everything we need and your account is open. "Once your account is open, we'll tell you and you can start paying in money. We'll send your debit card to you as well. You should get it in 8 to 10 days after your account opens." If you're switching to an existing Nationwide account, the bank confirms: "You have 31 days to pay in £1,000 and make a debit card payment from when you finish your application. So you can start paying in money and using your current debit card right away." I've had a Nationwide switch offer before. Am I eligible for this £175 payment? Yes - you could be - but it comes down to a few factors. The bank confirms that customers can "get our switch offer a maximum of two times - once on your first eligible sole account and once on your first eligible joint account." You can get the offer again if: - You've had an offer on a joint account before. Now you're switching to a sole account. - You've had an offer on a sole account before. Now you're switching to a joint account. Like you, the other person can't have had one of their switch offers on a joint account before. You can do a quick check via their eligibility checker here. If you qualify, Nationwide will let you know how to start your switch today. You can read the full T&C's about the £175 switch here.