Flex account (Direct, Plus or Regular) switch offer

Compare the requirements, benefits and eligibility.

Nationwide bank logo

Flex account (Direct, Plus or Regular)

Switching bonus from Nationwide

Bonus

£175

Penny's take

Solid free-account switcher bonus with a few moving parts. Nationwide's £175 cash is available on three account tiers, all fee-free except FlexPlus, and the bar to clear is reasonable: switch via CASS, move two Direct Debits, deposit £1,000 and make one card payment within the deadlines. The first-time-only rule is the biggest catch - previous Nationwide switch recipients are locked out entirely, as are those switching from Virgin Money.

For most people the fee-free FlexDirect is the sweet spot, adding 5% AER on up to £1,500 and 1% cashback for a year on top of the bonus. FlexPlus suits frequent travellers who'd pay separately for travel and breakdown cover, but its £18 monthly fee quickly erodes the £175 if those perks go unused. Overall, good value for eligible newcomers who can meet the deposit and Direct Debit conditions without much disruption

Requirements at a glance

Deposit requirement

£1,000

Direct Debits

2active

Transactions

1in 31 days

Monthly fee

No fee

Online Banking

Not required

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

  • Must be first-time recipient of a Nationwide switch offer on an eligible sole or joint account.
  • Must switch from a non-Nationwide and non-Virgin Money account.
  • FlexPlus carries an £18 monthly fee.
  • FlexDirect interest on balances up to £1,500 and 1% monthly cashback for first 12 months — conditions apply.

Account Benefits

Member-only products

FlexDirect, FlexPlus and FlexAccount holders can access selected Nationwide member-only savings products.

£50 overdraft buffer

The first £50 of an approved arranged overdraft is interest-free across the eligible Flex accounts.

FlexDirect first-year rewards

FlexDirect can pay 5% AER on up to £1,500 and 1% debit-card cashback for 12 months when its funding conditions are met.

FlexPlus protection package

FlexPlus includes worldwide family travel and mobile-phone insurance plus UK and European breakdown cover in its £18 monthly fee.

FlexPlus card use abroad

FlexPlus charges no Nationwide transaction fee for card payments or cash withdrawals abroad; third-party charges may apply.