Nationwide Building Society will now pay £200 to new customers when they switch their account. It is the highest cash perk on the market as a number of major banks compete to entice people to join.
NatWest and RBS are offering a £175 freebie, while Lloyds Bank is offering £150. To qualify for Nationwide's incentive, customers must complete a full switch using the Current Account Switch Service. A minimum of two active direct debits must be transferred to the new account.
The offer is available for all three of Nationwide's main current accounts: the £13 a month FlexPlus account including worldwide travel, mobile phone and European breakdown cover.
