Nationwide relaunches student current account with £100 bribe

Nationwide Building Society has relaunched its FlexStudent current account to give students £100 cash after they open an account.

However, students are being warned to act fast as it is a ‘limited-time offer.’ To get the money, you need to open a FlexStudent account and meet all Nationwide’s eligibility criteria.

Students will receive the £100 within 14 calendar days of crediting £500 to their FlexStudent account, which must be done by 15 December 2023.

They will also have access to an interest-free and fee-free arranged overdraft of up to £3,000 by the third year, which Nationwide claim is one of the highest on the market.

The offer is not be available to those who have a FlexStudent or FlexGraduate account open on 31 July 2023.

To be eligible, students need to be 18 or over, have been a resident in the UK for at least three or more years and been accepted on a full-time UCAS registered course of two or more years’ duration.

HSBC are also offering £100 cashback to students with a student current account and a £1,000 interest free overdraft.

TSB offer an interest free overdraft of up to £1,500 to students with their student current account and 5 per cent interest on balances up to £500.

Santander offers an interest free overdraft of up to £2,000 and a free 16-25 rail card for four years which could save an average of £159 per year. 

Tom Riley, director of banking and savings at Nationwide Building Society, said: ‘We know that extra money will be appreciated by students at a time when many are struggling with rising costs.

‘The FlexStudent account is designed with the needs of students in mind and comes with a number of benefits, which we believe will help students with their finances. 

‘These include a £100 cashback and an arranged overdraft of up to £3,000 that is both interest and fee-free.

‘However, the cash is only available for a limited time, so I’d encourage students to act early to benefit from the £100.’