Nationwide has announced plans to offer one group of customers up to £280 each in free bonuses. The world’s largest building society revealed on Tuesday, July 1, that some new members will receive £100 cashback, as well as £120 in vouchers, and up to £60 more for referrals.
The building society is reintroducing these incentives with its FlexStudent current account, aimed at first-year university students. According to Nationwide, the account “attracted more than a quarter of the student current account market last year”, and offers an interest and fee-free arranged overdraft of up to £1,000 in the first year, £2,000 in the second year, and £3,000 in the third year, along with commission-free purchases and cash withdrawals abroad.
To qualify for the incentives, students must apply for a FlexStudent account from today and deposit £500 – this can be the first instalment of your student loan – by December 2025. Within 14 days of the deposit, students will receive the £100 cashback.
Eligible accounts will also be given a £10 Just Eat voucher code every month for the first 12 months of the account being open. These can be used online and access will be granted within 14 days of the student becoming eligible.
Students can also earn an extra £40 in vouchers by successfully referring two friends, receiving £20 for each referral, while their friends also receive £20 each. Moreover, account holders with a FlexStudent account will be granted exclusive access to FlexGraduate, a post-university current account featuring an interest-free, fee-free arranged overdraft.
This account is “designed to help students find their feet after university, allowing them time to pay off their overdraft once their course has finished”. There’s up to £280 worth of bonuses available with the account: £20 when you are referred by a friend, plus £100 cashback and £120 in Just Eat Vouchers, and for each successful referral x2, you’ll get an additional £20 Just Eat voucher.
