Nationwide FlexDirect

Every condition

Each one in plain words, with the part of Nationwide Building Society’s terms it comes from.

• Full switch with the Current Account Switch Service, moving at least 2 active Direct Debits Up to you later

  What’s this?

  Moved with the Current Account Switch Service. Banks usually count a Direct Debit only if it has taken a payment recently; a new one that hasn’t been paid yet often doesn’t count. Each offer’s terms say exactly what counts.

  The account you switch from can’t be with Nationwide or Virgin Money.
  In the terms: 1. What you need to do
• Joint accountsA joint account switches into a new joint account in both your names, so you both apply. The terms apply their past-account and past-reward rules to both of you.
  In the terms: Prior offers: once for your first eligible sole switch and once for your first eligible joint switch since 2021
• The switch must complete within 28 days of opening the account The banks’ side
  In the terms: 1. Switch completes within 28 days of opening
• Pay in £1,000 within 31 days of opening the account Up to you laterLeave it for a day, then you can move it back. Money moved by the switch itself also counts. Doesn’t count: other Nationwide accounts, Visa credits.
  In the terms: 2. Pay in £1,000 within 31 days
• Make at least one debit card payment within 31 days of opening the account Up to you laterDoesn’t count: gambling, crypto, cash withdrawals, money transfers, cash-like transactions.
  In the terms: 2. One debit card payment within 31 days
• No switching offer from Nationwide or Virgin Money since 2021 Check before you apply
  In the terms: Prior offers

Only Nationwide Building Society can check: Not available if you (or a joint holder) have a Nationwide current account managed by its Collections and Recoveries department when the switch completes. Not available if a financial sanction or restraint order applies, or Nationwide suspects fraud.

Not counted: Up to £75 interest in a year from Nationwide’s FlexDirect (5.00% AER, fixed for 12 months), keeping £1,500 in the account. Not counted in the reward. Pay in £1,500 every month. After 12 months the rate is 1% AER, variable.

Not counted: For its first 12 months FlexDirect also pays £5 a month cashback on spending (with £500 of debit card spending) and £5 on Direct Debits (with £300 of Direct Debits), if you pay in £1,500 every month (not counted).