Nationwide and First Direct customers urged to act now for free £350

James Rodger

25 September 2024 at 10:31 am·2-min read

Nationwide and First Direct customers urged to act now for free £350 — -Credit: (Image: Reach Publishing Services Limited)

Current account holders can be handed free cash for Christmas from leading banks. A current account is a type of bank account which keeps your money secure and helps you manage your finances - and some banks are offering free cash incentives to switch.

A current account gives you an easy way to make payments to others (for example, standing orders and Direct Debits) and have people pay you (for example, your employer). You'll also get a debit card, which allows you to make payments and withdraw cash from a cash machine.

If you’re looking for a new home for your everyday banking, then you could bag £175 in cash when opening a First Direct 1st Account. And if you want even more, then Nationwide has a handy free cash offer ahead of Christmas too.

Nationwide

Nationwide is offering a new top of market switching incentive from Wednesday 25 September – paying £175 to those switching their current account. Britain’s biggest building society will also pay one per cent cashback on debit card spending for those with a FlexDirect current account and will be introducing a £50 interest free overdraft buffer.

It is the latest move from Nationwide that shows the value of being part of a modern mutual that invests profit for the benefit of members. Last year Nationwide returned £385 million to eligible members through a £100 Fairer Share payment earlier this year, while it remained first for customer satisfaction amongst its peer group for the 12th year running.

First Direct

The bank has brought back the “popular” offer just six weeks after withdrawing the last £175 switch deal. This is now the third time this year it has run the bank switch sweetener, and while no end date has been given, if it’s the right product for you, it may pay not to hang around.

First off, you need to be a new customer of First Direct, which means you can’t have previously held a First Direct product or opened a HSBC current account on or after 1 January 2018.

Then, follow these five steps:

Open a First Direct 1st Account on or after Monday 9 September and before the offer is withdrawn
Go through the full Current Account Switch Service (CASS) process to transfer your everyday banking, including switching at least two direct debits or standing orders within 45 days of opening the account (this must be from a provider that participates in CASS)
Deposit a minimum of £1,000 into your account within 45 days of the account opening
Register and log onto digital banking within 45 days of the account being opened
Use your debit card at least five times within the first 45 days of account opening

Manchester Evening News
HMRC warning as new '£665' tax demand letters being sent to state pensioners
Simple Assessment letters are being sent to more people this year due to measures taken on tax allowance thresholds
Manchester Evening News
DWP payment millions will be able to claim over winter as temperatures drop
The payment will be triggered when temperatures drop below a certain point
The Telegraph
How Rachel Reeves’s first Budget could cost you £200,000 (and what you can do about it)
Chancellor Rachel Reeves has made it clear that we should not be expecting any bank account-friendly handouts in the Budget at the end of the month.
Yahoo Finance UK
Best savings accounts that offer above-inflation rates, 11 October
Check the best savings accounts to find a top-rated deal that works for you.
The Telegraph
How Britain could soon become a capital gains tax hotspot of Europe
Rachel Reeves could saddle Britain with some of the highest capital gains tax (CGT) bills in Europe if she follows through with tipped Budget reforms.
Fool.co.uk
A 9.2% yield but down 15%! This FTSE 250 stock looks a bargain to me
This FTSE 250 firm has one of the highest yields in any major UK index, and its reorganisation to boost profits and lower costs appears to be going well. The post A 9.2% yield but down 15%! This FTSE 250 stock looks a bargain to me appeared first on The Motley Fool UK.
Fool.co.uk
After crashing 35% in a day could this FTSE stock rebound like the Rolls-Royce share price?
Harvey Jones is wondering whether this plunging FTSE 100 stock can do what the Rolls-Royce share price did, and fly back into favour after a difficult time. The post After crashing 35% in a day could this FTSE stock rebound like the Rolls-Royce share price? appeared first on The Motley Fool UK.
The Telegraph
British Airways cancels hundreds of flights because of Rolls-Royce engine issues
British Airways scrapped hundreds of long-haul flights as maintenance issues with its Rolls-Royce jet engines grounded aircraft.
Fool.co.uk
Looking for shares to buy with dividend yields over 7%? I’d consider these 3!
Christopher Ruane likes to buy shares that offer him quality businesses at an attractive price, as well as having a high yield. These are all on his radar. The post Looking for shares to buy with dividend yields over 7%? I’d consider these 3! appeared first on The Motley Fool UK.
Fool.co.uk
This FTSE investment trust has a dividend yield of 29%. What’s going on?
Jon Smith takes a look at a FTSE share with an exceptionally high yield and wonders if the risk's worth the generous income potential. The post This FTSE investment trust has a dividend yield of 29%. What’s going on? appeared first on The Motley Fool UK.
Fool.co.uk
2 of my favourite bargain penny stocks in October!
These two penny stocks look dirt cheap across a variety of different metrics. Royston Wild explains why they could be sensible options for cautious investors. The post 2 of my favourite bargain penny stocks in October! appeared first on The Motley Fool UK.
Fool.co.uk
With £1,000 to invest I’d buy 19 shares in this opportunistic Dividend Aristocrat
Rio Tinto shares currently come with a 6.75% dividend yield. And Stephen Wright's impressed with what looks like an opportunistic lithium acquisition. The post With £1,000 to invest I’d buy 19 shares in this opportunistic Dividend Aristocrat appeared first on The Motley Fool UK.
Fool.co.uk
Can this 8%+ yielding penny share maintain its dividend?
Our writer holds this penny share and likes its yield of over 8%. But recent business performance has made him question whether to hang on to the stock. The post Can this 8%+ yielding penny share maintain its dividend? appeared first on The Motley Fool UK.
Fool.co.uk
It grew 342% in 1.5 years! Is this FTSE 100 stock ready to relive the good old days?
This impressive FTSE 100 stock shocked investors when it made huge gains in 2021. With the global economy recovering, can it do it again? The post It grew 342% in 1.5 years! Is this FTSE 100 stock ready to relive the good old days? appeared first on The Motley Fool UK.
Reuters Videos
BP warns Q3 profit set to take a hit as fuel demand stalls
STORY: BP warned Friday (October 11) that its third-quarter profit will take a hit of up to $600 million.It blamed weak refining margins due to a slowdown in global demand for fuel and lower oil trading results.The British oil major joins other energy giants in facing a drop in profitability to multi-year lows.It's a sharp reversal for an industry that enjoyed surging returns after the pandemic, and shows how demand has slowed.Rival Shell on Monday warned of a slump in refining profit margins and weak oil product trading in the third quarter.Last week, U.S. giant Exxon Mobil said a slump in oil prices was set to hit its Q3 profit.Prices fell 17% in the third quarter on worries about the global oil demand outlook.That was the largest quarterly decline in a year.BP's earnings outlook also comes as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence.Auchincloss took over in January but has struggled to stop the drop in BP's share price.The firm has underperformed rivals so far this year as investors question its ability to generate profits under its current strategy.BP's stock has fallen around 12% year-to-date, while shares of Shell and Exxon have gained.The firm is due to post quarterly results on October 29.
Yahoo Finance
Inflation: Consumer price increases in September come in slightly hotter than estimates
September's Consumer Price Index will serve as the latest test of whether inflation will continue to ease as the Federal Reserve debates its next interest rate decision.
The Telegraph
Rachel Reeves denies plans to increase capital gains tax to 39 per cent
The Government has been forced to deny that Rachel Reeves is planning to raise capital gains tax to as high as 39 per cent.
GuruFocus.com
Carnival Corporation Stock Soars as Analysts Upgrade Forecasts After Stellar Q3 Earnings
Driven by robust consumer demand, Carnival's net income surged by 60%
Fool.co.uk
5 top ETFs Fools own in their Stocks and Shares ISAs
Do you own any ETFs in your Stocks and Shares ISA? Here, five Fools reveal why they have positions in these particular ones. The post 5 top ETFs Fools own in their Stocks and Shares ISAs appeared first on The Motley Fool UK.
The Argus
Martin Lewis issues 'important warning' to thousands missing out on £2,000
The average sum in the unclaimed funds is £2,212, and it is free for you to access and claim

Nationwide

First Direct

Latest stories