The exact date Nationwide customers discover if they get a £100 bonus
The exact date Nationwide customers discover if they get a £100 bonus
The building society's board will meet later this week to make a decision on the Fairer Share payment scheme, which will see Nationwide customers receive a £100 bonus
Nationwide will soon announce whether it's going to reintroduce its Fairer Share payment scheme
(Image: 2023 Peter Dazeley/Getty )
Millions of Nationwide customers are on tenterhooks to discover if they will be the lucky recipients of a complimentary £100 from the building society. Nationwide is poised to disclose whether it's going to reintroduce its Fairer Share payment scheme for a third consecutive year.
Introduced in 2023, the Fairer Payment scheme rewards members for their loyalty by compensating those who conduct their regular banking with Nationwide. The £100 gift is a result of Nationwide's customer ownership model which favours profit distribution over dividend payments to shareholders.
Nationwide is scheduled to release its financial figures this week on Thursday, May 29, revealing whether the bonus payout will continue into this year, specifying the sum, payment timing, and eligibility criteria.
Towards the end of 2025, Debbie Crosbie, Nationwide's chief executive, mentioned that they were "well positioned" to award another Fairer Share payment to eligible members. Still, the final decision hinges on the building society's fiscal results.
Anticipations are high that customers might receive an update as soon as 7am, reports the Mirror. For money-saving tips, sign up to our Money newsletter here
A representative announced: "Nationwide's board will decide on a Fairer Share payment for 2025 and it will depend on our financial performance. The decision will be announced as part of our full year results 29 May."
Article continues below
Last year, Nationwide Building Society distributed £385 million to 3.85 million customers following an announcement of £2 billion in profits.
The bonus payments were made between June 13 and June 28, suggesting that customers might have to wait until June for another potential round.
Nationwide boasts over 16 million members, but not all are eligible for the payout; only 24% received it last year. In 2023, 3.4 million customers were awarded the bonus.
Eligibility for the payment last year required members to have a current account and either a minimum of £100 in savings or at least £100 outstanding on a mortgage as of 31 March 2024. Additional criteria applied depending on the specific current account or mortgage held.
This news follows closely on the heels of Nationwide's separate £50 "Thank You" payment to around 12 million customers, which occurred between April 9 and May 14, distinct from the £100 "Fairer Share" payment.
The "Big Nationwide Thank You" was a token of appreciation for members' support during the acquisition of Virgin Money. The £2.9 billion transaction was finalised in October 2024, with a total of £60 million being disbursed.
Article continues below
To qualify for the £50 payment, you must have held a savings or current account, or mortgage, at the end of last September.
You must have also made at least one transaction through your current account or savings, or maintained a balance of at least £100 in your current account, savings or mortgage, in the 12 months leading up to the end of September 2024.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Wales Online
3 hours ago
- Wales Online
Major shake-up of how people pay BBC licence fee proposed
Major shake-up of how people pay BBC licence fee proposed BBC chairman Samir Shah suggested the current flat fee could be replaced in future The BBC licence fee would be means tested if the proposals were introduced (Image: Getty ) A BBC boss has proposed TV licence fees could be based on the value of one's home in future. Chairman Samir Shah suggested that the current £174.50 fee could be replaced with a progressive payment structure tied to property values. In an interview earlier this year, he proposed that the fee could be linked to council tax bands and collected concurrently, marking his first significant change since succeeding Richard Sharp. He also dismissed the notion of replacing the TV licence with a Netflix-style subscription service, arguing it wouldn't fulfil the BBC's mission to provide something for everyone in the country. Under this proposal, households in higher council tax bands would pay more for BBC services, while those in lower bands might pay less than the current rate. The option to opt out of paying a TV licence would be removed. For our free daily briefing on the biggest issues facing the nation, sign up to the Wales Matters newsletter here Shah believes this approach would lessen the need to prosecute non-payers, telling The Sunday Times: "It gets rid of the enforcement issue, which is a problem. The idea that not paying the licence fee is a criminal offence seems too harsh." For regions like Northern Ireland, the Isle of Man, and the Channel Islands, where Council Tax doesn't apply, an alternative method would need to be established, reports the Express. Article continues below Culture Secretary Lisa Nandy may be receptive to the idea, having previously described the current model as "harder for poorer households to pay". During the interview, he tackled queries about altering the BBC's funding model and dismissed the idea of a hybrid structure that would offer basic services like news for free while charging for drama or comedy content. He also mentioned that introducing advertising to the BBC would "kill off ITV" and rejected the notion that the BBC should be funded entirely through general taxation, arguing it would "leave the BBC open to influence from the government of the day". Article continues below At the moment, although there are concessions or free licences for certain groups, such as those over 75 who receive Pension Credit, the licence fee does not take personal assets into account. The standard licence fee is set at £174.50 per annum, with a reduced rate of £58.50 for black and white TV subscriptions. For individuals who are blind or severely sight-impaired, there is a 50% concession, bringing the cost down to £87.25.
Daily Mirror
5 hours ago
- Daily Mirror
'Rachel Reeves has cast aside the gloom - but not everyone wins'
Rachel Reeves has splashed the cash in a Spending Review designed to draw a line under a tricky first year in power. The Chancellor cast aside the gloom of her early months in office and instead pledged to put billions of pounds into public services and to get spades in the ground across Britain. She alluded to Labour's biggest problem - that voters who handed them a landslide victory don't yet feel the change they were promised. This impatience for change is fuelling a rise in support for Nigel Farage and his crew of snake oil salesmen. Ms Reeves made it clear that she's getting on with it, with a flurry of announcements for big ticket projects such as public transport, nuclear power and affordable homes. She also had a message for Labour supporters, who feel let down by some of the decisions the Government has made. Pointing to her long list of announcements, she hammered home the point that these are "Labour choices" - and they are. Pouring cash into boosting the NHS, fixing crumbling school buildings, firing up public transport projects and getting Britain building is definitely back in Labour territory. Let's not forget free school meals for more children and restoring the winter fuel allowance to millions of pensioners. But while there are winners, there are also losers. Police chiefs are warning they may have to make cuts due to a squeeze on Home Office funding. Schools face a real-terms freeze in budgets once cash for free school meals expansion is stripped away, according to the Institute for Fiscal Studies. Follow our Mirror Politics account on Bluesky here. And follow our Mirror Politics team here - Lizzy Buchan, Mikey Smith, Kevin Maguire, Sophie Huskisson, Dave Burke and Ashley Cowburn. Be first to get the biggest bombshells and breaking news by joining our Politics WhatsApp group here. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you want to leave our community, you can check out any time you like. If you're curious, you can read our Privacy Notice. Or sign up here to the Mirror's Politics newsletter for all the best exclusives and opinions straight to your inbox. And listen to our exciting new political podcast The Division Bell, hosted by the Mirror and the Express every Thursday. Some departments, including Environment, Food and Rural Affairs, and Culture, Media and Sport, are facing outright cuts. It's also not clear how the UK will get to its ambition of spending 3% of GDP on defence, which is already miles behind the 5% NATO chief Mark Rutte wants allies to sign up to. And swingeing welfare cuts have been factored in, despite fury from Labour MPs at plans to cut disability benefits. All this spending has already been accounted for in the Budget and the Spring Statement. But with the finances so tight, Ms Reeves will continue to face questions over whether she may be forced to put up taxes again in the autumn.
Scottish Sun
7 hours ago
- Scottish Sun
Donald Trump reveals huge new plans for Aberdeenshire golf course
The golf courses will combine to create 'The Greatest 36 Holes in Golf' on the Aberdeenshire coast TOP TRUMP Donald Trump reveals huge new plans for Aberdeenshire golf course DONALD Trump has unveiled huge new plans for his Aberdeenshire golf course. The site is currently undergoing an expansion, with a new 18-hole course set to open later this summer. 2 Donald Trump has revealed new plans for his Aberdeenshire golf course Credit: AFP 2 Trump and his Scots mum Mary Anne MacLeod Credit: Getty Known officially as the Old and the New, the golf courses will combine to create 'The Greatest 36 Holes in Golf' on the Aberdeenshire coast. And as part of the upgrades, the 47th US President is creating a memorial garden to his late mum Mary Anne MacLeod at the golf resort. The main feature of the garden will be a tribute carved in stone, specially imported from her birthplace and original home, the Isle of Lewis. Trump's mum was born and brought up in the fishing town of Tong on the Hebridean island of Lewis but emigrated to New York to live a very different life. She was one of tens of thousands of Scots who travelled to the US and Canada in the early years of the last century, looking to escape economic hardship at home. She first left Lewis for New York in 1930, at the age of 18, to seek work as a domestic servant. Six years later, she was married to successful property developer Frederick Trump, the son of German migrants and one of the most eligible men in New York. The fourth of their five children, Donald John, as he is referred to on the islands, is now US president for the second time. Mary Anne died in 2000 aged 88 and is buried in New York. Sarah Malone, executive vice president of Trump International, said: 'With the New course opening now fast approaching, we are delighted to share the final layout of this extraordinary links and the completion of The Greatest 36 Holes. Watch the supercringey moment Donald Trump gets a rocking bagpipe welcome to his first Scots golf course 'It has been a phenomenal journey to create two truly exceptional world-class championship golf courses, across this magnificent stretch of North Sea coastline. 'The Trump family has a deep affection for Scotland – not only as the home of golf – but as the ancestral home of President Trump's beloved mother, Mary Anne MacLeod.' We told previously how a man who claims a farmer's hedge has ruined his views of Donald Trump's Aberdeenshire golf course has taken his fight to the government.
