Nationwide FlexAccount
Current account
£175
switching bonus
Penny's take
Solid free-account bonus for first-time Nationwide switchers. At £175 with no monthly fee, the reward is straightforward to keep once earned, and the hoops — depositing £1,000, making one card payment, and transferring two Direct Debits — are manageable for most people within the timeframe.
The biggest catch is the first-time rule: previous Nationwide or Virgin Money current account holders are excluded. Beyond the bonus, the account is fairly basic, so it suits switchers who want a clean, no-cost everyday account rather than premium perks.
Requirements at a glance
Deposit requirement
Direct Debits
Transactions
Monthly fee
How to qualify
Requirements
- •Switch using the Current Account Switch Service (CASS)
- •Complete switch within 28 days including transfer of at least 2 Direct Debits and closure of old account
- •Deposit £1,000 and make at least 1 debit card payment within 31 days of account opening.
Things to check
- This must be your first eligible Nationwide switch offer for a sole account, or your first for a joint account.
- You must switch from a non-Nationwide and non-Virgin Money current account.
Account Benefits
No monthly fee
FlexAccount has no monthly account charge.
Member-only products
Access selected Nationwide member-only savings products.
£50 overdraft buffer
The first £50 of an approved arranged overdraft is interest-free.