Nationwide boosts 'recommend a friend' current account reward scheme

Competition to attract current account customers has intensified as Britain's biggest building society has widened its "recommend a friend" scheme.

Nationwide Building Society's scheme has previously enabled existing current account members to refer a friend - but this has now been extended to also enable savings and mortgage members to recommend someone to open a main current account.

The incentive scheme, which rewards existing customers as well as new customers, allows each party to earn £100 if the customer's friend opens a main current account with the Society.

Nationwide said customers can earn a maximum of £500 per tax year by recommending a friend to open a main current account.

It said more than 300,000 members have benefited from the scheme so far.