Nationwide sends message to customers with at least £1,000 in accounts

New customers who sign up to a Nationwide account have been told they will be paid £175 in free cash. They will need to move £1,000 to the FlexDirect account within 31 days and also move over two active direct debits.

It's one of the latest cash-switching deals on offer from one of the big banks. Nationwide is hoping it can tempt customers to join them from their rivals with the cash offer.

A number of similar offers are also available at the moment from other banks including NatWest and Lloyds. People looking to make some extra money are encouraged to check them out to see if they could be right for them.

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Finance experts say the process is usually hassle free and is a good way to make money. Nationwide should pay out by mid-December for those who sign up now.

The deal has been highlighted by Martin Lewis' Money Saving Expert (MSE). They said: "Another strong service contender here, and it gives you 5% fixed interest for 12 months on current account balances, but only on up to £1,500. The debit card cashback looks good.

"It has a linked 6.5% AER variable regular saver you can put £200/month in for one year (max it out for £85 interest). To get the free cash: Switch 2+ direct debits across, then pay in £1,000+ and spend once on the debit card within 31 days of requesting the switch."