The Society will pay £125 to existing members who switch their current account to the Society, while new customers will receive £100 for switching.
Britain’s biggest building society is launching a new current account switching incentive which will reward existing members with a higher cash amount than new ones.
Nationwide Building Society said the new incentive and a new competitive savings account will be launched from Wednesday August 18.
The Flex Instant Saver will be exclusively available to current account members and will pay an introductory 0.35% rate of interest for 12 月.
Nationwide will pay £125 to existing members who switch their current account to the 社会 while new customers will receive £100 for switching.
To qualify for the incentive, switches must be made using the current account switch service (Cass) and a minimum of two active direct debits must be set up on the new account.
Members must use Nationwide’s internet bank to switch a current account they hold with another provider to an existing account they already hold with the Society, or open a new account to switch to using Nationwide’s website, internet bank or mobile banking app.
The switch must be completed within 30 days of it being requested.
人 can switch to one of the Society’s three main current accounts, including its FlexPlus packaged bank account which has a fee; FlexDirect which is an online account paying 2% credit interest on balances up to £1,500 and an interest-free arranged overdraft for the first 12 月; and FlexAccount where members can bank online and in branch for no fee.
Tom Riley director of banking and savings at Nationwide Building Society, 前記: “As a mutual we always look to reward our members’ loyalty with exclusive products and services.
“This is why our new switching incentive offers a higher level of reward for existing members compared to those who are new to the Society.”