Millions of Nationwide customers to get £100 bonus payment from today

13 June 2024 , 07:10

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Nationwide is rolling out its next batch of Fairer Share payments from today (Image: PA)

Millions of Nationwide customers will start to receive a £100 bonus payment from today - although not everyone is eligible.

The money is being paid out to almost 3.9million customers as part of the building society's Fairer Share scheme, which was confirmed last month. To be eligible for the payment, you need to have a qualifying current account, plus a mortgage or savings account with Nationwide. Your current account must have been opened on or before March 31, 2024.

You can read the exact qualifying criteria for each type of Nationwide current account below. If you have a Nationwide residential mortgage, you must have owed at least £100 on March 31, 2024, and for savings, you must have had at least £100 in total in one or more personal savings accounts or cash ISAs with Nationwide on March 31, 2024.

The £100 payment is being made between June 13 and June 28, 2024, so not everyone will receive it today. Nationwide said eligible customers should have been contacted by May 31. This is the second payment Nationwide has made through its Fairer Share scheme.

Debbie Crosbie, Nationwide’s Chief Executive, said: “Our strong financial performance means we are able to offer more ways for our members to benefit from our success. This is only possible because we are owned by members and all our profits are reinvested for their benefit.”

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Nationwide Fairer Share - qualifying current accounts

Here is the additional qualifying criteria for each Nationwide current account:

FlexOne, FlexStudent or FlexGraduate: You must have received at least one payment in, or made one payment out of your account, during March 2024. This does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2024 and March 31, 2024.

FlexAccount, FlexDirect or FlexBasic: In two of the three months of January 2024, February 2024 and March 2024, you must have received at least £500 into your current account, not including transfers from other Nationwide accounts and have made at least two payments out of your current account, or you must have made at least ten payments out of your current account. Again, this does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2024 and March 31, 2024.

FlexPlus: Pay the monthly fee for maintaining the account.

Levi Winchester