Nationwide Building Society has issued an update about a £175 payment going out to customers.

The group is currently offering £175 in free cash if you switch over and open a current account with them.

The offer applies when opening a FlexPlus, FlexDirect or FlexAccount, and you can even get the payment even if you already have one of these accounts, if you switch over from a non-Nationwide bank account.

A person asked Nationwide over X: “Is there any time frame on your current bank transfer…