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Brits have been urged to do one thing before jumping at the Nationwide £175 switch deal announced yesterday. Before claiming the extra cash customers should do their homework, an expert has warned.

Nationwide is handing out £175 for free to people who sign up to its latest switching initiative. The bank is paying customers who switch through its Current Account Switch Service.

Members have from September 18 to sign up and can receive other benefits from the bank, such as the £100 Fairer Share Payment.

But prior to claiming the £175 from Nationwide, the expert urged Brits to do their homework, the Express reports .

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Alastair Douglas, CEO of finance firm TotallyMoney

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