£175 Switching Bonus: Clock Ticks Down for Nationwide, NatWest, Santander, and Barclays Customers

Race Against Time: How to Snap Up the £175 Offer

If you kicked off a current account switch to Nationwide before their 31 March 2025 deadline, there’s still a chance to bag the coveted £175 switching bonus. Sounds like easy money? It can be, but you need to follow a strict set of rules to qualify. Here’s what you need to know—before time runs out.

The bonus is available to customers who switch to either FlexPlus, FlexDirect, or FlexAccount. You have to use the official Current Account Switch Service, which means your old bank account (from another provider, not Nationwide) will be closed within 28 days. That might feel like ripping off a plaster, but it’s the only way to get your hands on the cash.

Two active direct debits need to come along for the ride; think your gym membership or your monthly streaming payment. As soon as the account is up and running, you’ll also need to deposit at least £1,000 and tap your debit card for at least one purchase, all within 31 days. Miss a step, and you’re out.

This offer isn’t open to everyone—if you’ve already pocketed a Nationwide switching bonus since 18 August 2021, you’re out of luck. The deal is for those moving over from other banks, and if you’re thinking to double-dip with a joint account, the bonus can stack up. That means both account holders could earn £175 each if they both meet the criteria. Not bad for a bit of paperwork and a few taps on your phone.

Similar Incentives: NatWest, Santander, and Barclays in the Game?

Nationwide isn’t the only big-name bank throwing extra cash at new customers. NatWest, Santander, and Barclays have been running their own switching incentives, although their T&Cs come with different twists.

• NatWest: They’ve often dangled similar bonuses but typically require an online application and unique conditions, like a minimum monthly deposit or mobile app registration. They’re strict—no previous bonus hunters or current NatWest accounts allowed.
• Santander: Their offers sometimes reach the £175 mark too, and often focus on their 123 Current Account. Santander usually wants you to move over a couple of direct debits and may ask you to stick around for a set period. Any bonus will usually land a couple of months after requirements are met.
• Barclays: They’re known for offering cash rewards with their Blue Rewards scheme. Switching bonuses from Barclays can pop up, but eligibility is often aimed at customers who haven’t held a Barclays account recently and who set up selected direct debits.

If your switch is already underway with Nationwide, stay on top of your account—direct debits must clear, the card has to be used, and that initial payment can’t be forgotten. If you missed the cutoff or want to try your luck elsewhere, check the latest from NatWest, Santander, or Barclays, as these offers can roll out throughout the year. Banks want your business, and they’re willing to pay for it—if you move fast and read the small print.