Nationwide relaunches student account with £100 bribe

Nationwide Building Society has relaunched her Flex Student current account to give students £100 in cash after they open an account.

However, students are warned to act quickly as it is a ‘limited time offer’. To get the money, you must open a FlexStudent account and meet all Nationwide criteria.

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

They will also have access to an interest-free and no-cost overdraft facility of up to £3,000 by the third year, which is one of the highest on the market, according to the Nationwide.

The offer is not available to those who opened a FlexStudent or FlexGraduate account on July 31, 2023.

To be eligible, students must be 18 years of age or older, have lived in the UK for at least three years or more and be admitted to a full-time UCAS registered course of two or more years.

HSBC also offers £100 cashback to students with a student account and an interest-free £1,000 overdraft.

TSB offers an interest-free overdraft of up to £1,500 to students using their student account and 5 per cent interest on credits up to £500.

Santander offers an interest-free overdraft of up to £2,000 and a free 16-25 rail card for four years, saving 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 was designed with students’ needs in mind and has a number of benefits, which we believe will help students with their finances.

These include £100 cash back and a regular overdraft of up to £3,000 which is both interest and fee free.

“However, the money is only available for a limited time, so I would encourage students to act early to take advantage of the £100.”