Nationwide sends email about £100 bonus to customers but not all will qualify for it
Nationwide sends email about £100 bonus to customers but not all will qualify for it
Nationwide is set to pay out an additional £400 million to a further four million customers through its Fairer Share scheme - here's everything you need to know
Nationwide is set to pay out an additional £400 million to a further four million customers
(Image: Mike Kemp/Getty )
Nationwide has confirmed that millions of customers will receive another round of £100 bonus payments. The building society is set to distribute a total of £400million to four million customers.
The bonus cash is part of its Fairer Share scheme, which allows Nationwide to share its profits with its customers. The money will be directly deposited into your Nationwide current account between 18 June and 4 July. For money-saving tips, sign up to our Money newsletter here .
To qualify for the payment, you need to have a qualifying current account, as well as a savings account or mortgage with Nationwide. More detailed 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.
If you have a mortgage, you must have had at least £100 left to pay off on March 31, 2025. Nationwide will contact you by email or letter by May 30, reports the Mirror.
This comes after Nationwide reported a 30% increase in annual profits following its acquisition of Virgin Money.
Pre-tax profits were £2.3billion for the year to 31 March, up from £1.8 billion the previous year. On an underlying basis, pre-tax profits fell to £1.9billion from £2billion as Nationwide stated it had prioritised offering competitive interest rates to customers.
The group also paid out a record £2.8billion to members in rewards, including a separate £50 thank you bonus to its customers earlier this year following the Virgin Money takeover. The update today means Nationwide has now announced three Fairer Share payments.
Last year, a total of £385million was paid out to 3.85 million customers after the building society announced profits of £2billion. In 2023, Nationwide distributed £340million to 3.4 million eligible members.
Debbie Crosbie, Nationwide's Chief Executive, 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."
Nationwide Fairer Share - qualifying current accounts.
Here is the additional qualifying criteria for each Nationwide current account:
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