Nationwide Building Society has rolled out two financial rewards for 2025 that will benefit both new customers switching their primary banking accounts and loyal members who’ve been with the institution for a while. These efforts align with the society’s overarching strategy of providing direct value to members instead of shareholders, reinforcing its mutual status.
Starting May 29, 2025, Nationwide members who switch their primary banking account to the society could be eligible for a £200 Switch Reward. This offer targets existing customers who may already hold products like savings or mortgages with Nationwide but haven’t yet made it their primary bank. It’s designed to deepen engagement with those customers.
In a separate initiative, Nationwide is also distributing a £100 “Fairer Share” Payment to over four million loyal members. This payment, which requires no action from the recipients, will be automatically credited between June 18 and July 4, 2025, for those who already rely on Nationwide for both day-to-day banking and at least one additional qualifying product.
£200 for Switching Your Main Account to Nationwide
The £200 reward is aimed at customers who choose to move their everyday banking needs to Nationwide. To qualify, members must switch their current accounts from other UK banks to one of Nationwide’s qualifying accounts via the Current Account Switch Service (CASS).
This reward is not open to the public; only existing Nationwide members—those who already have a savings account or mortgage—are eligible. The reward is available for three specific accounts: FlexPlus, FlexDirect, or FlexAccount.
To claim the £200, members must meet a series of conditions. Here’s a breakdown:
- Be an existing Nationwide member, with at least one product (like a savings account or mortgage).
- Complete the switch using CASS, switching to either a FlexPlus, FlexDirect, or FlexAccount.
- Fully close the existing external account during the switch.
- Transfer at least two active Direct Debits to the new account.
- Complete the switch within 28 days from initiation.
- Deposit at least £1,000 into the new account within 31 days.
- Make one debit card transaction within the same 31-day period.
Payment Timeline for the £200 Reward
Once all the conditions are met, customers can expect to receive the £200 reward within 10 working days. However, this could take a bit longer in some cases if extra account checks are needed. It’s a good idea to keep email confirmations and transaction details handy for reference. Members should also monitor their account after the switch to ensure that everything, including the Direct Debit transfers and debit card usage, has been correctly recorded.
£100 Payment for Long-Term Nationwide Members
On top of the £200 switching incentive, Nationwide is bringing back its Fairer Share payment for 2025. This £100 bonus is automatically awarded to long-term customers who continue to use Nationwide for both their primary banking and at least one additional qualifying product, like a savings account or mortgage.
No action is required from eligible members—Nationwide will transfer the £100 directly into their accounts between June 18 and July 4, 2025. This payment is part of Nationwide’s commitment to rewarding loyal customers and ensuring that profits benefit members, rather than external shareholders.
Eligibility for the £100 Loyalty Payment
To qualify for the £100 Fairer Share bonus, customers need to have:
- Actively used a Nationwide current account as their main account by March 31, 2025 (i.e., receiving regular payments like salaries or benefits and using the account for everyday transactions).
- Held at least one additional product, such as a savings account or mortgage with Nationwide.
If both conditions are met, members will automatically receive the £100 payment. There’s no need to apply or contact customer service—this reward is processed based on data already held by Nationwide.
Comparing the Two Nationwide Rewards
To help clarify the differences between the two offers, here’s a quick comparison:
| Feature | £200 Switch Reward | £100 Fairer Share Bonus |
|---|---|---|
| Application Process | Online switch via CASS | No application needed |
| Eligible Members | Existing members not using Nationwide for main banking | Members already using Nationwide for main banking |
| Additional Product | Not required | Must have savings or mortgage |
| Direct Debit Requirement | Minimum of two transfers | Not required |
| Deposit Requirement | £1,000 within 31 days | No deposit condition |
| Payment Timeline | Within 10 working days post-switch | Between June 18 and July 4, 2025 |
| Repetition Restriction | Not valid if switch bonus received after Jan 1, 2021 | Can repeat annually if eligible |
Nationwide’s Strategy and Benefits to Customers
These two payment options reflect Nationwide’s ongoing focus on both attracting new customers and recognizing the loyalty of existing ones. The £200 switch incentive is a strategic move to encourage more customers to make Nationwide their primary bank, while the £100 Fairer Share bonus is a way to reward long-term users who have supported Nationwide through their continued use of multiple products.
These rewards are especially timely, providing financial relief in an environment where household budgets are still feeling the effects of inflation. Whether you’re a new customer considering a switch or a loyal Nationwide member, these incentives offer tangible benefits to help ease financial pressures.
What to Do Next
If you’re interested in the £200 switching reward, start by completing the online application through Nationwide’s website and make sure to follow all the required steps. Remember, timing is crucial—missing any of the conditions could disqualify you from receiving the reward.
For those who qualify for the £100 Fairer Share payment, all you need to do is continue using your Nationwide account as usual, and your £100 bonus will appear automatically during the scheduled payout window.
These two initiatives showcase Nationwide’s dedication to providing real value to its members—whether you’re new to Nationwide or a long-term customer.
