Britons hoping to claim a free £175 bonus from Nationwide Building Society are being reminded they have less than a week remaining before the deal disappears.
The building society will remove its current account switch incentive at 23:59 on March 4, 2026, giving potential switchers until next Tuesday to complete their applications.
Those wishing to claim the payment must carry out a full switch through the Current Account Switch Service (CASS) to one of Nationwide’s three main current accounts.
The offer has proven highly attractive to consumers, with Nationwide recording the strongest net switching gains of any provider according to the most recent CASS figures.
Nationwide is axing its free £175 bonus
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The mutual has claimed the top spot as Britain’s most popular switching destination for four consecutive quarters.
Fred Powell, the head of Product at Nationwide Building Society, said: “Our switching incentive is a demonstration of how we are making banking more rewarding for customers, and the fact we have topped the switching tables consistently shows customers agree.
“We would encourage anyone looking to switch their account to do so now to benefit from the offer as it will be withdrawn on March 4.”
The switching deadline arrives amid evidence that vast numbers of current accounts are generating no returns whatsoever for their holders.
Britons are switching current accounts to take advantage of savings deals | GETTY
Nationwide Building Society is awarding customers with a free £100 | NATIONWIDE BUILDING SOCIETY
Research from savings app Spring found that 6.5 million accounts containing balances exceeding £10,000 are earning zero interest, with the average balance in these accounts standing at £35,428.
Some 340,000 accounts hold more than £100,000 while paying nothing to their owners. Overall, £324.8 billion sits in current accounts that offer no interest, according to Spring’s analysis of November 2025 data.
Of the 86.3 million current accounts in credit, 87 per cent received no interest on their balances. Spring’s research indicates that many savers are trapped by old habits or feel overwhelmed by available options rather than being careless with their finances.
Derek Sprawling, Spring’s the head of Money, said: “It’s staggering that over six and a half million current accounts hold over £10,000 and are earning absolutely nothing, with some people leaving six-figure sums languishing in accounts that erodes the real value of their money.”
Savers have benefited from the Bank of England’s base rate hikes | PA
John Dentry, the product owner of the CASS at Pay.UK, suggested that reviewing whether a bank account still meets one’s needs can be worthwhile, noting that providers are competing on services, support and financial rewards.
He added: “It’s important for people to focus on the areas of their finances that are within their control. Reviewing whether your current account still meets your needs, from fees and overdraft charges to the features and incentives on offer, can be a simple but practical step in managing day-to-day finances more effectively.
“For those who do decide a change is right for them, the Current Account Switch Service exists to make the process straightforward and hassle-free.”
Here is a full list of the Nationwide Building Society accounts someone needs to switch to to qualify for the free £175 bonus:
- FlexPlus
- FlexDirect
- FlexAccount.