Nationwide rules for free £280 bonuses | Personal Finance | Finance

Nationwide has laid out rules and criteria as it moves to give one group of customers free bonuses worth up to £280. The world’s biggest building society said earlier this month that some new members will receive £100 in cash, as well as £120 in vouchers.

There’ll also be scope to earn a further £60 through referrals, Nationwide said. The building society is bringing back these rewards through 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 provides 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, plus commission-free purchases and cash withdrawals while abroad.

To be eligible for the rewards, students must apply for a FlexStudent account from today and make a £500 deposit, this can be the initial payment of your student loan, by December 12, 2025.

Within 14 days of making the deposit, students will receive the £100 cashback. Qualifying accounts will also receive a £10 Just Eat voucher code monthly for the initial 12 months after the account opens.

These vouchers can be redeemed online and access will be provided within 14 days of the student meeting the criteria. Students also have the chance to bag an extra £40 in vouchers by referring two friends – £20 per referral – with their mates also getting £20 each.

Those with a FlexStudent account will have exclusive access to FlexGraduate, a post-university current account with 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”.

Students can get up to £280 in bonuses with the account – £20 when you are referred by a friend, £100 cashback and £120 in Just Eat Vouchers, and for each successful referral x2, you’ll get an additional £20 Just Eat voucher.

This brings the total available incentive up to £260 – or £280 if you are the friend who was referred.