Nationwide gives exact date for free £100 customer bonus
Nationwide has revealed the exact date that eligible customers will receive the free £100 bonus.
The high street bank returned a record £2.8 billion in value to members last year, including £1 billion in direct payments to eligible members.
It also delivered £1.8 billion in better-than-average rates and incentives, with deposit rates over 30 per cent higher.
Britain's biggest building society today announced outstanding full-year results with record growth in retail deposits and net mortgage lending, including help for more first-time buyers than any other lender in the UK.
Statutory profit before tax rose to a record £2.3 billion, even after returning £1 billion directly back to members through last year's Fairer Share Payment and The Big Nationwide Thank You.
Whether you want to speak to a real person in branch, or do your banking online, there are many ways you can bank with us.
If you need support, get in touch: https://t.co/PBQ6UL8e26 pic.twitter.com/nHDrHeLoLb
— Nationwide (@AskNationwide) January 2, 2025
Nationwide announced a new Fairer Share Payment today, with over four million members receiving £100 each.
The payment goes to eligible members choosing Nationwide for their everyday banking, in addition to holding a qualifying savings or mortgage product.
It will be paid directly into their Nationwide current account between 18 June and 4 July.
It is also launching a market-leading 5% Member Exclusive Bond and a £200 member-only switching incentive.
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.'
Recommended reading:
The Member Exclusive Bond is available from today to all 16 million existing members and can be opened in a branch, online or via the Banking App.
Members saving the maximum £10,000 would receive £762.50 in interest after 18 months - over £150 more than they would receive over the same period in our next highest-rate bond (4% 1 Year Fixed Rate Bond).
Members who didn't have their main current account with Nationwide on 31 March can benefit from a £200 Member Exclusive Current Account Online Switch Offer from today.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
2 hours ago
- The Sun
Major lender CUTS mortgage rates despite other banks hiking loans as BoE boss warns over interest rates
BORROWERS are paying more for mortgages as lenders up costs despite a cut by the Bank of England last month. But one big provider has bucked the trend and today sliced mortgage rates for customers. 1 Nationwide has dropped rates on selected mortgages by up to 0.12 percentage points across selected two, three and five-year fixed rate deals. It comes as big banks that have recently upped rates include Halifax and Santander. Clydesdale Bank has also increased rates on selected residential two and five-year fixed rates by 0.25 percentage points. The Bank of England last month cut its base rate from 4.5% to 4.25%. This would usually lead to falling interest rates across the board for borrowers. However, the picture is mixed because of economic uncertainty and trade tariffs being applied by US president Donald Trump. Discussing interest rates, Bank of England boss Andrew Bailey this week told MPs: 'I think the path remains downwards, but how far and how quickly is now shrouded in a lot more uncertainty." The expectation of sharp interest rate cuts has been scaled back in financial markets. Nicholas Mendes, mortgage technical manager at broker John Charcol, said: "Market expectations for Bank of England rate cuts have been revised down where four were previously priced in, two now feels more realistic, and even that's not guaranteed. "The broader momentum still leans towards rates staying higher for longer. That's what's driving most lenders to reprice upwards. "Nationwide's decision may reflect a different strategy whether that's to stay competitive, manage pipeline volumes, or simply take a different view on short-term positioning." The Sun's James Flanders explains how to find the best deal on your mortgage The confusion around the future of interest rates can make it difficult if you are coming to the end of a mortgage rate. And many borrowers will be wondering whether it is better to fix for a shorter or longer time. How long should you fix? Trying to guess the path of interest rates is tricky and it's best to focus on your individual circumstances. Borrowers usually op for fixed rate mortgages to get peace of mind over repayments in the future. Alice Haine, personal finance analyst at Bestinvest By Evelyn Partners, the online investment platform, said: 'Uncertainty reigns at the moment with mortgage rates shifting up and down in recent weeks. "Preparing for all eventualities is key and the best strategy in an uncertain market is to employ the services of an independent mortgage broker. "An adviser can not only hunt out the best deal for right now but can also keep an eye on rates and flag if better options have come online since the initial product was agreed." Borrowers coming to the end of a deal can lock into a new rate up to six months ahead of the start of a new mortgage term. It means that you have the option to switch to a better rate should rates improve. Keeping in touch with your broker after a mortgage has been agreed and before the term starts can help to ensure borrowers secure the best rate possible at that particular juncture.' How to get the best deal on your mortgage IF you're looking for a traditional type of mortgage, getting the best rates depends entirely on what's available at any given time. There are several ways to land the best deal. Usually the larger the deposit you have the lower the rate you can get. If you're remortgaging and your loan-to-value ratio (LTV) has changed, you'll get access to better rates than before. Your LTV will go down if your outstanding mortgage is lower and/or your home's value is higher. A change to your credit score or a better salary could also help you access better rates. And if you're nearing the end of a fixed deal soon it's worth looking for new deals now. You can lock in current deals sometimes up to six months before your current deal ends. Leaving a fixed deal early will usually come with an early exit fee, so you want to avoid this extra cost. But depending on the cost and how much you could save by switching versus sticking, it could be worth paying to leave the deal - but compare the costs first. To find the best deal use a mortgage comparison tool to see what's available. You can also go to a mortgage broker who can compare a much larger range of deals for you. Some will charge an extra fee but there are plenty who give advice for free and get paid only on commission from the lender. You'll also need to factor in fees for the mortgage, though some have no fees at all. You can add the fee - sometimes more than £1,000 - to the cost of the mortgage, but be aware that means you'll pay interest on it and so will cost more in the long term. You can use a mortgage calculator to see how much you could borrow. Remember you'll have to pass the lender's strict eligibility criteria too, which will include affordability checks and looking at your credit file. You may also need to provide documents such as utility bills, proof of benefits, your last three month's payslips, passports and bank statements.
Western Telegraph
2 hours ago
- Western Telegraph
Full list of Nationwide customers who won't get £100 payment
Part of the building society's 'Fairer Share' scheme, millions are set to receive a slice of £400m. This follows Nationwide's announcement of a hefty £2.3 billion profit for the year ending March 31, 2025. The Fairer Share initiative was designed to give back to customers by sharing some of the profits, but only those who meet specific criteria will benefit. To qualify, Nationwide stipulates that you must have had an active current account on March 31, 2025. Whether you want to speak to a real person in branch, or do your banking online, there are many ways you can bank with us. If you need support, get in touch: — Nationwide (@AskNationwide) January 2, 2025 If your Nationwide current account wasn't open on this date, unfortunately, you won't be eligible for the bonus. Additionally, you must have used your current account within the first three months of the year. For savings accounts to qualify, you must have held at least £100 in one or more personal savings accounts or cash ISAs with Nationwide at any point during March 2025. Eligible members can expect to see the bonus credited to their accounts between June 18, 2025, and July 4, 2025. The building society has stated: "We will pay the money into your Nationwide current account by electronic transfer. "If you hold more than one current account with us, we may pay the money into any of those accounts. "We will pay the money into an account in your sole name if you have one and will pay it into a joint account if you do not. Recommended reading: "The payment will appear on your current account statement as Nationwide Fairer Share Payment. "We will not make the payment in any other way and if you do not have an open Nationwide current account when we try to make the payment, you will not be eligible to receive it. "We will decide whether you are eligible for the payment based on the information we hold about you and the products you have with us. "We always do our best to ensure that the information is accurate and complete, but incomplete, inaccurate, or out of date information may mean we wrongly exclude you from the payment."
Scottish Sun
8 hours ago
- Scottish Sun
Exact code to spot when £100 Nationwide payment lands in millions of accounts within weeks – will you be better off?
If you are not a Nationwide customers don't worry as we share other banks giving away free cash CASH HELP Exact code to spot when £100 Nationwide payment lands in millions of accounts within weeks – will you be better off? NATIONWIDE customers have been told the exact code to look out for to confirm a £100 payment has landed in their accounts. The high street lender is giving away the cash as part of its Fairer Share programme. 1 Nationwide customers have been told the exact code to look out for when the £100 cash lands in their accounts Credit: Getty The payment goes to members who bank with Nationwide regularly. Those who have a savings account or mortgage product could also qualify. Customers can expect the cash to land in their accounts between June 18 and July 4. And there is a code that customers should look out for on their bank statements to ensure they have received the cash - it is Nationwide Fairer Share Payment. But you must have opened a main current account with Nationwide by March 31 to get your hands on the money. You would have needed to have £100 in savings or owe £100 on your mortgage by that date. You also will need to have used your account within the first three months of this year. This is the third year that Nationwide has given away free cash to customers. Last year, it paid out a total of £385million to 3.85million customers and the year before £340million to 3.4million people. Back in December, the building society's boss confirmed it would make the payment for a third time. Major bank paying out £100 to customers It's worth noting, the £100 Fairer Share payment is separate to the £50 issued to around 12million Nationwide customers between April 9 and May 14. Recently the bank has also launched a new £200 switching offer to treat customers who sign up for its new bond. Nationwide's member inclusive bond is available to sign up to for all 16 million existing members and can be opened in branch, online or via the Banking App. This is a fixed-rate savings bond available only to Nationwide members. BANKING FREEBIES Nationwide is not the only bank giving customers free cash. TSB is giving new customers who switch to the high street bank a £100 switching incentive. You get the £100 upfront but if you spend on your debit card for 20 times in the first six months you get a £15 a month cashback. Santander has launched a new switching incentive to lure in customers. As part of the deal, customers will receive £180 within 90 days of making the switch. Cusomers need to pay £1,500 into the account within 60 days. This does not have to be deposited all at once. Customers must also set up two active household direct debits on the new account. This can include your council tax, mobile phone, home phone, broadband, paid-for TV packages, water, gas and electricity bills. Co-op Bank is also paying £175 to new customers.
