Nationwide to send out £100 to millions from today but warns some will miss out
Nationwide to send out £100 to millions from today but warns some will miss out
Nationwide is paying out a third round of its Fairer Share payments between June 18 and July 4 in a boost to millions of customers - here's everything you need to know
Nationwide is to send out £100 to millions of people
(Image: jax10289 via Getty Images )
From today, millions of Nationwide bankers will begin to receive £100 bonus payments, however not every customer will get it. The building society is distributing a third round of its Fairer Share payments between June 18 and July 4.
Eligible customers should have received an email or letter from Nationwide with the bonus being paid directly into your current account, so there's no need to apply for it. To qualify for the payment, you must hold a qualifying current account, as well as a savings account or mortgage with Nationwide.
The exact qualifying criteria for each type of Nationwide current account can be found below.
Your current account must have been opened on or before March 31, 2025.
For savings accounts, you must have had at least £100 saved at the end of any day in March, 2025.
Article continues below
If you have a mortgage, you must have had at least £100 left to pay off on March 31, 2025.
Nationwide will distribute a total of £400 million to four million customers after its statutory profit before tax rose to a record £2.3 billion, reports the Mirror.
This follows a separate £50 thank you bonus that Nationwide paid out to customers earlier this year following the Virgin Money takeover.
Debbie Crosbie, Nationwide's Chief Executive, said: "Nationwide has had an outstanding twelve months.
"We returned a record £2.8 billion 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."
Nationwide Fairer Share - qualifying current accounts
Here is the additional qualifying criteria for each Nationwide current account:
Article continues below
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.
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. 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 a set number of 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.
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 a set number of 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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
34 minutes ago
- Daily Mail
Santander cuts mortgage rates with first-time buyer deals slashed most
By Santander has cut mortgage rates for those buying homes with smaller deposits, despite the expectation that the Bank of England will hold interest rates at 4.25 per cent tomorrow. The changes are aimed at first-time buyers and home movers with a 5 per cent or 10 per cent deposit. The mortgage rate cuts will be up to 0.22 percentage points. The new products are available to all customers, whether they are applying via a broker or directly. Santander's lowest five-year fix for first-time buyers will now charge 4.85 per cent with no fee and £250 cashback. On a £200,000 mortgage being repaid over 25 years that would cost £1,152 a month. Home movers can do slightly better, with Santander offering a 4.78 per cent rate - again with no fee and £250 cashback. There are slightly lower rates on the market, but these tend to come with higher fees. For example, Monmouthshire Building Society is offering a 4.75 per cent rate with £1,379 of fees. Nationwide is also offering a 4.79 per cent five year fix at 4.79 per cent with £999 of fees. Buyers can compare rates and fees using This is Money's mortgage calculator. First time buyers with a 10 per cent deposit can secure a five-year fix at 4.47 per cent with Santander with a £999 fee and £250 cashback. Home movers with a 10 per cent deposit get a market-leading 4.4 per cent rate with Santander, albeit with the same fees. The next best deal after that is Virgin Money charging 4.44 per cent for its five-year fix, with a £995 fee. Alongside the 90 per cent and 95 per cent mortgage products, Santander is also cutting deals for home movers buying with 15 per cent deposits. It is also cutting the rate on its lowest five-year fixed rate remortgage deal for those refinancing with at least 40 per cent equity in their home. Peter Stimson, director of mortgages at the lender MPowered suggests that mortgage rates are unlikely to fall any further for the time being. 'When it comes to interest rates, inflation has morphed from a blip into a block,' said Stimson. 'That's why the prospects of the Bank of England cutting its base rate again tomorrow - already very slim - have evaporated. 'The swaps market - which mortgage lenders use to set the interest rates they offer on new loans - is already implying that there will be just one further cut to the base rate this year. He added: 'For anyone planning to buy their first home or remortgage this summer, who'd been assuming that the only way is down for mortgage interest rates, this week's inflation data will have been an uncomfortable reality check. 'Mortgage rates may well have fallen as far as they can for now, and in the coming weeks rates may even creep up back as lenders recalibrate in response to rising swap rates.'
The Independent
an hour ago
- The Independent
Where is my Nationwide £100 bonus? Dates and eligibility explained as first payments arrive
Nationwide 's annual bonus has started arriving in bank accounts, gifting eligible savers £100 each. For the third year running, this 'Fairer Share' payment will be distributed to millions of Nationwide members. The bank says this includes more than 4 million people in 2025, up from 3.85 million last year and 3.4 million the year before. The initiative will cost the building society £400 million – the most it has ever distributed as part of the Fairer Share Scheme. As with previous years, receiving the payment will be subject to certain eligibility criteria. The building society explains that it will go to 'eligible members choosing Nationwide for their everyday banking, in addition to holding a qualifying savings or mortgage product'. Most people have now received their payment, as Nationwide confirms that 99.97 per cent of eligible members were paid on Wednesday. The building society said the remaining eligible members should receive their payments by 4 July at the latest. Stephen Noakes, Nationwide's retail director, said: 'We have already made excellent progress in rolling out this year's Fairer Share payment, having surpassed four million payments in the first day. We are delighted to have been able to pay eligible members £100 for the third year running due to Nationwide being in a strong financial position. 'That strength, combined with our mutuality, meant we were able to return a total of £2.8bn in value to members in the last financial year.' The payment comes after Nationwide saw a 30 per cent jump in annual profits after an 'outstanding' year that saw it complete the takeover of Virgin Money. The firm was able to pay its members a one-off £615m 'Thank You' reward earlier this year following the deal. The firm completed the £2.9bn takeover, which saw the bank become the UK's second-largest mortgages and savings provider, behind Lloyds Banking Group. The group said integration of the acquisition was 'progressing well'. Nationwide said it was continuing to run the two businesses separately initially after the acquisition, and had no plans for job cuts in the short term. But Ms Crosbie said it was 'too early to say' what impact there would be on staff of the combined group further out as it integrates the businesses. 'Every business always reviews its workforce, and we'll continue to do that on an ongoing basis, but it's too early to say if there'll be an impact on the broader workforce,' she said. She also signalled Nationwide would keep Virgin Money's Newcastle headquarters, with Ms Crosbie saying 'the current footprint that we have will remain the same'.
Daily Mail
2 hours ago
- Daily Mail
Santander cuts mortgage rates with first-time buyer deals being slashed most
Santander has cut mortgage rates for those buying homes with smaller deposits, despite the expectation that the Bank of England will hold interest rates at 4.25 per cent tomorrow. The changes are aimed at first-time buyers and home movers with a 5 per cent or 10 per cent deposit. The mortgage rate cuts will be up to 0.22 percentage points. The new products are available to all customers, whether they are applying via a broker or directly. Santander's lowest five-year fix for first-time buyers will now charge 4.85 per cent with no fee and £250 cashback. On a £200,000 mortgage being repaid over 25 years that would cost £1,152 a month. Home movers can do slightly better, with Santander offering a 4.78 per cent rate - again with no fee and £250 cashback. There are slightly lower rates on the market, but these tend to come with higher fees. For example, Monmouthshire Building Society is offering a 4.75 per cent rate with £1,379 of fees. Nationwide is also offering a 4.79 per cent five year fix at 4.79 per cent with £999 of fees. Buyers can compare rates and fees using This is Money's mortgage calculator. First time buyers with a 10 per cent deposit can secure a five-year fix at 4.47 per cent with Santander with a £999 fee and £250 cashback. Home movers with a 10 per cent deposit get a market-leading 4.4 per cent rate with Santander, albeit with the same fees. The next best deal after that is Virgin Money charging 4.44 per cent for its five-year fix, with a £995 fee. Alongside the 90 per cent and 95 per cent mortgage products, Santander is also cutting deals for home movers buying with 15 per cent deposits. It is also cutting the rate on its lowest five-year fixed rate remortgage deal for those refinancing with at least 40 per cent equity in their home. Homeowners can now remortgage to a rate of 3.96 per cent with Santander, which includes fees of £1,058. That compares to NatWest, which offers 3.95 per cent and a £1,554 fee or HSBC, which offers a 3.99 per cent deal with a £1,008 fee. Peter Stimson, director of mortgages at the lender MPowered suggests that mortgage rates are unlikely to fall any further for the time being. 'When it comes to interest rates, inflation has morphed from a blip into a block,' said Stimson. 'That's why the prospects of the Bank of England cutting its base rate again tomorrow - already very slim - have evaporated. 'The swaps market - which mortgage lenders use to set the interest rates they offer on new loans - is already implying that there will be just one further cut to the base rate this year. He added: 'For anyone planning to buy their first home or remortgage this summer, who'd been assuming that the only way is down for mortgage interest rates, this week's inflation data will have been an uncomfortable reality check. 'Mortgage rates may well have fallen as far as they can for now, and in the coming weeks rates may even creep up back as lenders recalibrate in response to rising swap rates.' Best mortgage rates and how to find them Mortgage rates have risen substantially over recent years, meaning that those remortgaging or buying a home face higher costs. That makes it even more important to search out the best possible rate for you and get good mortgage advice, whether you are a first-time buyer, home owner or buy-to-let landlord. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you To help our readers find the best mortgage, This is Money has partnered with the UK's leading fee-free broker L&C. This is Money and L&C's mortgage calculator can let you compare deals to see which ones suit your home's value and level of deposit. You can compare fixed rate lengths, from two-year fixes, to five-year fixes and ten-year fixes. If you're ready to find your next mortgage, why not use This is Money and L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you.
