Nationwide is offering customers a £200 incentive to switch their main bank account | Bristol Live

Nationwide told potential customers they could get an extra £200 by switching their main account. The building society is targeting people who don’t currently hold a primary account with them, promising a cash incentive to make the move.

The initiative is part of a wider trend in which banks are competing for new customers by offering cash incentives for switching accounts. Financial experts often recommend these offers because they can be an easy way to earn extra money, and the switching process is usually simple and quick.

In an effort to attract more customers to their current accounts, Nationwide has been actively reaching out to potential customers, Birmingham Live reports. Nationwide said: “As a building society we put our members first. That’s why we have a current account offer exclusively for members”.

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The building society continued: “All you have to do is switch your main account with us online and we’ll credit your account with £200. Use the online checking account switching service to open a Nationwide FlexPlus, FlexAccount or FlexDirect account.”

Nationwide ensures that switching is easy: “The process is simple and you can switch in just seven days. You choose the date you change, which must be completed within 28 days of requesting it.

“We handle balance transfers and payments, but you need at least two active direct debits. Make sure to check the box to close the account with your existing provider and you’re done. You can receive the £200 within 10 days of completing the full switch and it will be paid into the account you switch to.”