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Nationwide customers are rushing to open new accounts and secure a free £175 payment. The Nationwide current account £175 offer has seen scores of customers change, new figures show.

More than a million current account switches have been made over the past year. Recent months saw the busiest quarter of activity, with about 265,100 taking place between July and September.

More than 111,000 took place in July alone, according to data from the Current Account Switch Service (Cass). The service allows people to switch their current account automatically by having payments moved over to a new provider.

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Some people move their money outside of Cass and so the figures provided do not include

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