Nationwide Building Society launches free £220 cash and voucher bonus - are you eligible?

Students could get a free cash bonus and Just East Vouchers if they join Nationwide Building Society via the mutual's FlexStudent deal

Students could get a free cash bonus and Just East Vouchers if they join Nationwide Building Society via the mutual's FlexStudent deal

Nationwide Building Society is offering millions of savers the opportunity to win up to £220 in free cash and vouchers, but only certain customers will be eligible.

The mutual is relaunching its FlexStudent deal, which rewards members at university or college with a free £100 cash bonus and £120 in Just East vouchers.

This deal from the building society is available from today (July 15) for this year's student intake, with last year's deal attracting 48 per cent of the market.

Notably, Nationwide's FlexStudent offering includes an interest-free and fee-free arranged overdraft of up to £1,000 in the first year, £2,000 in the second and £3,000 by the third year.

Furthermore, the lender's student deal comes with commission-free purchases and free cash withdrawals abroad. For 2026/27, student customers will receive specially designed limited-edition debit cards, while stocks last.

However, to claim this deal, students must deposit at least £500 into a new FlexStudent account and make five debit card payments by December 11.

If this requirement is met, customers will receive £100 into their FlexStudent account within 14 calendar days of crediting it with at least £500 by December 11, 2026.

Tom Riley, the director of Retail Products at Nationwide Building Society, said: "Starting university is an exciting milestone, but it’s completely normal for both students and parents to feel concerned about managing money independently for the first time.

"Taking some time to research and prepare before term starts can make the transition much smoother. A good place to start is by opening a student current account, which can help make everyday finances easier to manage.

"Our FlexStudent account combines practical support such as access to an overdraft with a mix of cash incentives and Just Eat vouchers giving students a little extra help as they settle into university life."

Andrew Hagger, personal finance expert from Moneycomms, added: "The high street providers are starting to announce their student bank account offers for 2026/27, with Nationwide looking to build on last year's dominant performance where it took 48% of the market.

"The just eat promotion was a big success last year with more than half a million take away vouchers downloaded - a massive hit with students.

"Interestingly, 11 per cent of Nationwide Student bank accounts were opened in branch, showing how those perhaps opening a bank account for the first time value that face-to-face service."

Rachel Springall, a finance expert at Moneyfacts, shared: “An essential part of any student current account is a generous interest-free overdraft, and combining this with cost-saving incentives and free cash can make a huge difference to students.

"Nationwide’s FlexStudent account offers an attractive bundle, the £100 cash bonus can go towards the cost of study materials, and Just Eat vouchers help students save a bit of cash when ordering takeaways or groceries."