Nationwide switch offer

Hi all, first post here. 

I'm considering ditching hsbc for nationwide and have read up on their current switching deal with £175 cash payment etc. 

I noticed it states you must deposit £1000 within 31 days of applying for the new account, does anyone know if a) this £1000 has to be left unspent i.e. to claim the deal you have to pay in and maintain a cash balance of £1000 OR is it b) that you have to pay in a total of £1000 but can spend this and so have a balance less than £1000 within the 31 day period?

Thanks

Comments

  • EarthBoy
    EarthBoy Posts: 3,177 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    As long as you pay the money in, you can do what you like with it after that; you don't have to keep it in the account.
  • Alexland
    Alexland Posts: 10,183 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    You can pay it in and transfer it out immediately and you have met the pay in requirement.
  • I just check it seems that this switching deal is also available to those who has got switching incentive in the past ?
    Am I correct ?.

    Also what about creating a new login could it work to get switching incentive ??


  • Rob5342
    Rob5342 Posts: 2,283 Forumite
    1,000 Posts Third Anniversary Name Dropper
    edited 20 February at 8:39AM
    The terms say

    You will only be eligible for this offer on your first sole current account and first joint current account that you switched to us since 18 August 2021, and that have not benefited from this or any previous current account online switch offer.
  • PRAISETHESUN
    PRAISETHESUN Posts: 4,699 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    I just check it seems that this switching deal is also available to those who has got switching incentive in the past ?
    Am I correct ?.

    Also what about creating a new login could it work to get switching incentive ??


    New login won't work as they will use your personal details to figure out you are the same person and deny you the incentive if you are not eligible.
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