Nationwide confirms £100 payment to land in bank accounts within days - full list of who is eligible
Nationwide confirms £100 payment to land in bank accounts within days - full list of who is eligible
The building society is set to hand out a total of £400 million to four million customers in the latest round of its Fairer Share scheme. This is what you need to know
Nationwide customers are in for another round of bonus payments as profits soar
(Image: Alan Morris via Getty Images )
Millions of Nationwide customers will start receiving a £100 bonus payments this week. The building society is poised to distribute a total of £400 million amongst four million customers. The bonus cash forms part of Nationwide's Fairer Share scheme, which redistributes the company's profits back to its customers.
The funds will be directly deposited into customers' Nationwide current accounts between 18 June and 4 July. To be eligible for the payment, customers must hold a current account with Nationwide, as well as either a savings account or mortgage.
The specific qualifying criteria for each type of Nationwide current account can be found below.
Current accounts must have been opened on or prior to March 31, 2025 whereas savings accounts must have had at least £100 saved at the end of any day in March 2025.
Those who have mortgages must have at least £100 of payment pending on March 31, 2025. For money-saving tips, sign up to our Money newsletter here
Nationwide sent those eligible an email or letter last month.
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This announcement comes on the heels of a 30% increase in annual profits for Nationwide following its acquisition of Virgin Money.
Pre-tax profits climbed to £2.3 billion for the year ending 31 March, up from £1.8 billion the previous year. However, on an underlying basis, pre-tax profits dipped to £1.9 billion from £2 billion, as Nationwide stated it had prioritised offering competitive interest rates to its customers.
Nationwide, the UK's largest building society, recently announced an unprecedented profit of £3.1billion.
Earlier in the year, members celebrated a one-off £50 bonus, following its acquisition of Virgin Money.
Nationwide's financial success has resulted in a series of generous rewards for its members. The previous year saw 3.85 million eligible members sharing a total of £385million after Nationwide reported £2billion in profits.
Nationwide's Chief Executive, Debbie Crosbie, said: "Nationwide has had an outstanding twelve months. We returned a record £2.8billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances, and we remain first for customer service."
The announcement confirmed that the bonus is set to be paid from tomorrow, June 18 to Friday, July 4 for those meeting the eligibility criteria.
Listed below are the qualifying requirements 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 2025. This does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2025 and March 31, 2025.
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FlexAccount, FlexDirect or FlexBasic: In two of the three months of January 2025, February 2025 and March 2025, 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, 2025 and March 31, 2025.
FlexPlus: Pay the monthly fee for maintaining the account.
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