BREAKING NEWS Nationwide reveals £100 Fairer Share payment for a third time - do YOU qualify for June's payout?
Nationwide has this morning announced it will pay out another 'Fairer Share' bonus this year.
Britain's biggest building society will once again dish out £100 to 4million eligible members this summer, a collective total of £400million.
This marks the third annual Fairer Share payment Nationwide has offered to its members, which it started in 2023.
It comes as the mutual giant posted bumper pre-tax profits of £2.3billion in the year to April, up from £1.77billion last year, after recording its highest ever year for growth in mortgage lending and current account balances.
Debbie Crosbie, Nationwide 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.'
The Fairer Share payment will see members who were eligible on 31 March 2025 get £100 paid into their current accounts in June. The money will arrive in their accounts between 18 June and 4 July.
To be eligible for the payment, Nationwide members must have either a current account and savings account, or a current account and a mortgage. Nationwide said these are its criteria:
Current account: To be a qualifying current account, your account must have been open on 31 March 2025. Qualifying members must still have a current account open in June.
Savings: Your savings will have qualified for the current account if you had at least £100 in total or in one or more savings accounts or cash Isas with Nationwide at the end of any day in March 2024.
Mortgage: To be a qualifying mortgage customer, you must have had at least £100 on your Nationwide residential mortgage on 31 March 2024.
Why is Nationwide paying the bonus again?
Nationwide took in profits of £million before tax. As a mutual owned by members not shareholders, Nationwide is able to share some of its profits with its members rather than paying dividends.
Nationwide began its Fairer Share bonus in 2023 when it paid 3.4million members £100 each. In June 2024, it handed 3.85million members £100 each, dishing out 3.85million.
Nationwide has said it intends to make the payment every year on the condition it will not be 'detrimental' to the strength of its finances.
James Blower, financial expert and founder of the Savings Guru said: 'The Fairer Share bonus is a nice extra for loyal qualifying Nationwide customers to thank them for their business.
'Those members who miss out should check the qualifying criteria and ensure they meet them for the cut off next year, which is usually the 31 March, as it is worth holding the minimum balance to ensure the payout.
'While I don't recommend joining Nationwide purely to benefit from bonuses, if their products provide a competitive rate and good value for your requirements, the bonuses are a lovely extra to receive.'
Some customers will pocket £150 this year
In March this year, Nationwide announced it would pay over 12million members £50 each as part of a 'Big Thank You' payment.
It came as Nationwide banked a big gain from its takeover of Virgin Money, which completed in October last year. The mutual received a windfall of £2.3billion on its £2.8billion purchase of virgin Money.
The price tag was so low that Nationwide paid a lot less for Virgin's assets than they were deemed to be worth.
It means that some customers will have pocketed the £50 Big Thank You payment as well as the £100 Fairer Share payment for a total of £150.
The payments were completely separate according to Nationwide, so receiving one did not rule members out from receiving the other.
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