Nationwide customers being paid £375 directly into bank accounts

Daily Record

19 hours ago

Nationwide customers can make hundreds of pounds in free cash
Nationwide customers are being urged to seize the opportunity to rack in hundreds of pounds in free payments. The building society is currently offering 3.75% AER on its One-Year Triple Access Online Saver.
Despite there possibly being better rates on the market, the Triple Access Saver rate remains competitive and could land savvy households some extra money. Nationwide customers who put £10k into the account and leave it there would make £375 at the end of the 12-month period, proving that there is good money to be made.
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As well as existing Nationwide customers, those from other banks can also switch and sign up. Under the terms of the account, savers can withdraw three times a year without taking a hit on the interest rate.
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However, be warned that any more than three withdrawals will see the rate plummet to 1.25% so it's worth bearing that in mind before opening the account, Birmingham Live reports.
The news follows a caution from finance experts that millions of Brits are keeping money sat in low-interest accounts which are hardly growing at all.
Nationwide said: "Online saving – limit your withdrawals, keep a better rate with our limited access savings account.
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"Up to 3.75% AER/gross a year (variable) for 12 months.
"Make up to three withdrawals during the 12-month term of this account.
"Make more than three and the rate drops to 1.25% AER/gross a year (variable).
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"Designed for: savers who are happy to make up to three withdrawals (during the 12-month term) without loss of interest.
"Savers who want to open and manage their account online using our internet bank/banking app."
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It comes as Nationwide recently confirmed they will be handing out another round of £100 payments to millions of their loyal customers.
The bonus cash is set to be dished out in the coming weeks with the move, which was confirmed last month, being part of the building society's Fairer Share scheme, where they share their profits with customers.
Over four million people are set to benefit to the tune of £100 this summer.
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The £100 will be paid directly into eligible Nationwide current accounts between Wednesday, June 18, and Friday, July 4.
In order to qualify, customers must have both a selected Nationwide current account as well as a savings account or mortgage with the bank.
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For a current account to be eligible, it must have been opened on or before Monday, March 31, 2025, and savings accounts must have had at least £100 saved at the end of any single day in March 2025.
If you have a mortgage with Nationwide, you must have at least £100 left to pay off by March 31, 2025.
If you have qualified for the payment, Nationwide should have already contacted you by email or letter.