Nationwide is offering a free £100 to certain customers as part of its 'Fairer Share' scheme.
The bonus will be paid to millions of its current account customers who also have savings or a mortgage with the lender.
This is the second time Nationwide has made this kind of payment. Last year, it paid a total of £340 million to 3.4 million customers.
The bank also revealed lower earnings over the past year but said it handed out a record amount of cash to its members.
The building society has faced heavy criticism recently after revealing proposals to take over Virgin Money.
Nationwide to give £100 to some existing customers again. Here's who gets it... https://t.co/HvRZRR3c0h
— Martin Lewis (@MartinSLewis) May 23, 2024
Who's eligible for the £100 Nationwide payment?
You must have a Nationwide current account
Your account must have been open on March 31, 2024.
You must have used your current account earlier this year
According to MoneySavingExpert.com, the exact criteria depend on which current account you have:
- FlexAccount, FlexBasic or FlexDirect: In two of the three months of January, February and March 2024, you must EITHER:
1. Have received at least £500 into the account (excluding transfers in from other Nationwide accounts) and made at least two payments out of the account.
2. Have made at least 10 payments from the account.
If you have more than one of the above accounts, payments made across all those accounts in total will count towards hitting the requirements. These requirements do not apply if you completed a switch into the account using the official switch service between January 1 and March 31, 2024, though you'll still qualify for the bonus.
- FlexPlus: You must have paid, and continue to pay, the monthly account fee.
- FlexOne, FlexStudent or FlexGraduate: You must have received at least one payment in or made one payment out of your account during March 2024.
Recommended reading:
Nationwide sees profits fall after handing cash to members
Nationwide takeover of Virgin Money sparks member backlash
Nationwide deal criticised by biggest Virgin Money shareholder
You must also have had savings or a mortgage with Nationwide in March 2024
Savings: You must have held at least £100 across one or more Nationwide personal savings accounts or cash ISA at the end of any day in March 2024.
Mortgage: You must have owed at least £100 on a Nationwide residential mortgage on 31 March 2024.
If you've withdrawn your savings or paid off your mortgage since the end of March, you'll still qualify provided your current account remains open.
When will I get the payment?
The money will be paid directly into your Nationwide current account between Thursday, June 13 and Friday, June 28 and will appear on your statement as 'Nationwide Fairer Share Payment'.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel