In today’s time when everyone wants some better facilities and rewards from their bank, Nationwide Building Society has introduced a very great offer for its existing customers. Under this offer, if you switch your existing bank account to Nationwide and fulfill some easy conditions, then you can get a bonus of £200 (more than ₹21,000) directly.
This is not a common promotional offer that is open to everyone. It is specially designed for those customers who have already been Nationwide customers in some form or the other. Let us know in this article who this offer is for, how this bonus can be availed and what things are important to keep in mind.
Who Can Take Advantage of This Offer?
The most special aspect of this offer is that it is only for those customers who were associated with Nationwide in some form before 31 March. This means that if you had a Nationwide savings account, current account or mortgage loan before that date, then you are eligible for this offer.
Understand with an Example
If you opened a fixed deposit or savings account before March, then you will be considered eligible for this bonus. But if you are looking to become a Nationwide customer for the first time, then this offer is not for you.
What Conditions Have to Be Fulfilled to Get the Bonus?
To get this £200 bonus, you have to follow some easy but precise steps:
1. Switch Account – Through Current Account Switch Service
You have to completely close your existing bank account and switch to Nationwide. This process has to be completed online through the UK’s official Current Account Switch Service.
2. You Have to Transfer at Least Two Direct Debits
Direct Debit is a process in which money is deducted from your bank account every month for a service (such as mobile bill, electricity bill). You have to transfer at least two Direct Debits to the new account.
3. You Have to Deposit £1,000 in the Account Within 31 Days
After the switch is complete, you have to deposit £1,000 (about ₹1 lakh) in your new account within a month.
4. You Have to Make at Least One Payment Using the Debit Card
This will prove that you have actively used the account.
Which Accounts Are Eligible for This Offer?
To get this bonus, you have to switch to a specific current account of Nationwide. These mainly include three account types:
1. FlexPlus Account
This is a premium account in which you get many advantages such as:
- Mobile phone insurance
- Travel insurance
- Breakdown cover
2. FlexDirect Account
This is better for those who want to earn good interest on their balance. It offers good interest rate for the first few months.
3. FlexAccount
This is a simple and normal current account with no additional fees. If you do not want too many facilities, then this will be right for you.
Important condition: If you have already taken a switch bonus on any Nationwide account after 2021, then you will not be eligible for this offer again.
Understanding the Switching Process – Easy and Safe
The Current Account Switch Service is a government recognized system that transfers transactions, direct debit and income like salary or pension from the old account to the new account without any hassle.
Benefits of Switching
- Your old salary and pension income starts coming directly into the new account
- Standing orders, subscriptions, EMIs etc. of the old bank are all shifted automatically
- You do not need to inform any payment company separately, but it would still be better if you inform your employer or pension provider once
Is This Offer Different from Fairer Share Payment?
Yes, this bonus is completely different. Some people may get confused because a few months ago Nationwide also gave its customers a Fairer Share Payment of £100. But there is a big difference between the two rewards.
Understand the Difference
- £200 bonus: For this, it is necessary to switch accounts and fulfill the conditions mentioned above
- £100 Fairer Share Payment: This was given to those customers who already have both a current account and a savings or mortgage account. No active action required
If you missed out on the Fairer Share Payment, this £200 offer is your next chance.
What to Do If You Think You’re Eligible?
If you opened any Nationwide account before March 2024 and now want to switch your current bank account, you’ll need to start the process entirely online. All conditions must be met within 31 days.
What to Do
- Have your old bank details ready
- Make sure you’ve never received a switch bonus from Nationwide before
- Keep data on bills or subscriptions you’ve paid with Direct Debit so you can add them to the new account
- Make at least a £1,000 deposit and one debit card payment after switching
If you’re not sure if you’ve ever received a bonus before, you can contact Nationwide’s customer service or check your online banking history.
Why Is This Offer Smart and Beneficial?
In today’s time when people expect something extra from every place, this bonus offer from Nationwide is very useful. Now comes a great opportunity.
Why This Offer Is Special
- It is a way to reward old customers
- You can improve your banking experience
- A bonus like £200 means direct earning without any risk
- The process is completely easy, online and secure
Conclusion – Don’t Miss the Opportunity
If you are an old Nationwide customer and you opened an account there before March, then this £200 bonus offer is a great opportunity for you. By fulfilling just a few simple conditions, you can get yourself a great reward.
Remember, this offer is not for everyone and it has a limited period. If you are eligible, apply online as soon as possible and strengthen your financial position.
