Nationwide’s £200 Payments Update – Who’s Getting Paid And When To Expect It

Nationwide Building Society has officially revealed details of its £200 switching offer, now available to qualifying members. The latest update clarifies exactly who is eligible and when payments will be made, helping customers plan their next financial move.

If you’re considering switching to a new Nationwide current account — or moving to an existing one — this is your guide to unlocking the extra £200 cash incentive. Here’s everything you need to know.

Why is Nationwide Offering £200?

In a highly competitive banking market, Nationwide is encouraging loyal members to switch to one of its core current accounts by offering a £200 cash payment for doing so.

But not everyone can take advantage — the offer is exclusive to those who meet specific membership and activity requirements.

Who Qualifies for the £200 Payment?

To be eligible for the £200 bonus, you must meet the following qualifying criteria:

• Be an existing Nationwide member (had an eligible account on or before 31 March 2025).
• Hold one or more of the following accounts as of that date:
  • Nationwide residential mortgage
  • Nationwide personal savings account or cash ISA
  • Nationwide current account (sole or joint)
• Have not received a Nationwide switch incentive since 2021.
• Switch to a FlexPlus, FlexDirect, or FlexAccount using the Current Account Switch Service.
• Close your existing account at another bank as part of the switch.
• Move over at least two Direct Debits.
• Pay in at least £1,000 and make at least one debit card payment within 31 days of opening or switching into the account.

Steps to Get the £200 Payment

Step	Action Required
1. Membership	Must be an eligible Nationwide member since 31 March 2025
2. Choose an Account	Open or switch to FlexPlus, FlexDirect, or FlexAccount
3. Use Full Switch Service	Switch via Current Account Switch Service within 28 days
4. Transfer Direct Debits	Move at least two Direct Debits
5. Meet Deposit Requirement	Pay in at least £1,000 and make one debit card payment within 31 days
6. Receive Payment	£200 will be paid within 10 days of completing all steps

Important Notes to Consider

• The switch must be a full switch — partial switches do not qualify.
• Manual account changes are not eligible.
• Customers switching from Nationwide’s own subsidiaries (such as Virgin Money accounts) will not be eligible.
• If switching into a joint account, only one £200 payment will be made — even if both account holders qualify.
• The debit card payment can be a simple purchase or contactless payment, but cannot be gambling transactions, loan repayments, or cash withdrawals.

When Will You Get the Money?

Once you meet all the eligibility criteria and complete your account switch:

• You’ll receive a notification confirming your switch is complete.
• The £200 payment will be made to your new account within 10 days.
• On your bank statement, the payment will appear with the reference: “Switching Offer“.

Switches must be initiated from 29 May 2025 onwards to qualify.

Will Nationwide Redirect My Payments?

Yes. The Current Account Switch Service takes care of this:

• Incoming payments, such as your salary or pension, will automatically be redirected to your new Nationwide account.
• Outgoing Direct Debits will be moved over.
• Nationwide will notify the organisations making and receiving payments about your new account details.

However, it is recommended that you also inform your regular payers of your new bank details to avoid any delays.

Why Is This Offer Appealing?

Here’s why many customers are jumping at this chance to earn £200:

• It’s a straightforward switch that takes only a few simple steps.
• You can switch into an existing account if you already hold one — or open a new account.
• You’ll gain access to Nationwide’s range of current account benefits while earning an immediate cash boost.
• The switch process is fully protected and guaranteed by the Current Account Switch Service.

Nationwide’s £200 switch offer is an excellent way for existing members to benefit from switching their current account — with minimal effort and maximum reward.

By following the clear eligibility steps and ensuring your switch is completed via the official service, you can quickly and easily qualify for this valuable cash bonus.

With payments made within 10 days of fulfilling the criteria, this is a fast, simple, and rewarding opportunity for thousands of loyal Nationwide customers.

FAQs

Can I apply if I’m not already a Nationwide member?

No — the £200 switch offer is only open to existing Nationwide members who held an eligible account on 31 March 2025.

Can I receive the £200 if I’ve had a switch bonus before?

You cannot receive the offer if you’ve had a Nationwide switch bonus since 2021. If switching between sole and joint accounts where the bonus hasn’t previously been applied, one payment may still apply.

Will the switch impact my salary payments?

No. The Current Account Switch Service ensures that salary payments and all Direct Debits will automatically be redirected to your new account. However, it’s a good practice to also notify your employer of your new details.