Nationwide to give away free £280 bonuses - but only for certain customers

Nationwide, the world's largest building society, has announced plans to offer a group of customers up to £280 each in free bonuses. On Tuesday, July 1, it was revealed 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, this account "attracted more than a quarter of the student current account market last year". It 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.

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To qualify for these incentives, students must apply for a FlexStudent account from today and deposit £500 by December 2025, such as the first instalment of a student loan. The £100 cashback will be received within 14 days of the money being deposited into the account.

Eligible accounts will also receive 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 provided within 14 days of the student becoming eligible, reports the Express.

Students can also pocket an extra £40 in vouchers for bringing two mates on board, netting £20 each, while the mate nabs a cool £20 too.

Exclusive to those with a FlexStudent account is access to FlexGraduate, a bespoke current account tailored for post-uni life, featuring an interest-free, fee-free arranged overdraft "designed to help students find their feet after university, allowing them time to pay off their overdraft once their course has finished".

Savvy students could snag up to £280 in bonuses through the account: nabbing £20 when a pal refers them, plus getting £100 cashback, scooping £120 of Just Eat Vouchers, and for every duo of pals they successfully refer, bagging 2x £20 Just Eat vouchers.