Latest news with #BigNationwideThankYou
Wales Online
27-05-2025
- Business
- Wales Online
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.
Daily Mirror
26-05-2025
- Business
- Daily Mirror
Exact date this week Nationwide customers to find out if they'll get £100 bonus
The payment of £100 comes as the building society is owned by its customers and not shareholders. This means it can distribute some profits to them rather than paying dividends Millions of Nationwide customers will soon find out whether they will receive a free £100 from the building society. Nationwide is set to announce whether it will reintroduce the Fairer Share payment scheme for the third year running. The Fairer Payment scheme was first launched in 2023, and it rewards members for doing their everyday banking with Nationwide. The payment of £100 comes as it is owned by customers and not shareholders. This means it can distribute some profits to them rather than paying dividends. Nationwide will be publishing its financial results this week on Thursday, May 29. In them, they will confirm whether the bonus will be paid again this year, the exact amount, when it will be paid and who will qualify for it. Towards the end of last year, the building society's chief executive Debbie Crosbie said they were 'well positioned' to repeat a Fairer Share payment to qualifying customers. However, the building society stressed that it all depends on its financial performance. Customers should find out as early as 7am. A spokesperson said: '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.' Last year, a total of £385million was paid out to 3.85 million customers after the building society announced profits of £2billion. The bonus payments were made between June 13 and June 28 - so it is likely customers would have to wait until June again to get the money, if another round is confirmed. Nationwide has over 16million members overall, and as mentioned before, not everyone gets the money. Last year, only 24% of its customers received the payment. In 2023, 3.4million customers received the bonus. Join Money Saving Club's specialist topics Last year, the money was paid to eligible members who had a current account and at least £100 in a savings account or at least £100 outstanding on a mortgage as of 31 March 2024. Extra requirements were also in place depending on the type of current account or mortgage you held. The announcement comes just weeks after Nationwide completed a separate £50 payment to around 12million customers between April 9 and May 14. The "Thank You" payment is separate to the £100 "Fairer Share" payment. The "Big Nationwide Thank You" payment was issued as a gesture of gratitude to Nationwide members for their contribution to the takeover of Virgin Money. The £2.9billion deal was completed in October 2024. Overall £60million was paid out. To be eligible for the £50 payment, you will need to have had a savings or current account, or mortgage, at the end of last September. You must also have made at least one transaction through your current account or savings, or had a balance of at least £100 in your current account, savings or mortgage, in the 12 months to the end of September 2024.
Glasgow Times
03-05-2025
- Business
- Glasgow Times
Nationwide update when customers will receive bonus payments
The payment was due this week to around 12 million people in the building society's Big Nationwide Thank You, after it bought Virgin Money. But, some customers reported that they still haven't received their payment, despite being eligible. When we contacted Nationwide, they gave this update: "If we were able to pay the money into a Nationwide current account, instant access or limited access savings account in your name, we have now done so. "If we couldn't, and you have a mortgage with us, we paid £50 into the bank account used to pay your mortgage Direct Debit where we were able to do so. "All other payments will be made by cheque. Cheques will be sent by 14 May 2025." Who is eligible for the Nationwide payout? To qualify for the payout, you must have been a Nationwide member on September 30 2024, and still be a member on April 30 this year. In the 12 months to the end of September 2024, members must also have: had at least one qualifying transaction on your Nationwide current account or savings account, or had at least £100 in total in one or more of your Nationwide current accounts and savings accounts, or owed at least £100 in total on one or more Nationwide residential mortgages. You also met the requirements if you completed a switch to any Nationwide current account. You just had to do so between 1 July 2024 and 30 September 2024 using the Current Account Switch Service. A statement on the Nationwide website says: "We're writing to members who will receive the payment. If you think you're eligible and haven't heard from us by 20 March 2025, there are ways you can Check if you're eligible." How does the £50 Nationwide bonus get paid? For most people it will go directly into a current account, instant access or limited access savings account. The payment should arrive by 30 April 2025. If they can't, and you have a mortgage with them, they will pay £50 into the bank account used to pay your mortgage Direct Debit. As long as the account is in your name, the payment should arrive by April 30 2025. All other payments will be made by cheque. Cheques will be sent by May 14 2025. They must be paid in by 1 January 2026 to make sure you don't miss out on the payment. Recommended reading: Is this different to the £100 Nationwide Fairer Share payout - can you get both? Yes, and yes. The Big Nationwide Thank You is in addition to the £100 Fairer Share Payment, so customers could get both. "We would like to make another Fairer Share Payment this year" the website says. "This will depend on how we perform financially. We'll announce our decision when we publish our results for the 2024/25 financial year." This is expected to take place on May 29.
South Wales Argus
03-05-2025
- Business
- South Wales Argus
Nationwide update when customers will receive bonus payments
The payment was due this week to around 12 million people in the building society's Big Nationwide Thank You, after it bought Virgin Money. But, some customers reported that they still haven't received their payment, despite being eligible. When we contacted Nationwide, they gave this update: "If we were able to pay the money into a Nationwide current account, instant access or limited access savings account in your name, we have now done so. "If we couldn't, and you have a mortgage with us, we paid £50 into the bank account used to pay your mortgage Direct Debit where we were able to do so. "All other payments will be made by cheque. Cheques will be sent by 14 May 2025." Who is eligible for the Nationwide payout? To qualify for the payout, you must have been a Nationwide member on September 30 2024, and still be a member on April 30 this year. In the 12 months to the end of September 2024, members must also have: had at least one qualifying transaction on your Nationwide current account or savings account, or had at least £100 in total in one or more of your Nationwide current accounts and savings accounts, or owed at least £100 in total on one or more Nationwide residential mortgages. You also met the requirements if you completed a switch to any Nationwide current account. You just had to do so between 1 July 2024 and 30 September 2024 using the Current Account Switch Service. A statement on the Nationwide website says: "We're writing to members who will receive the payment. If you think you're eligible and haven't heard from us by 20 March 2025, there are ways you can Check if you're eligible." How does the £50 Nationwide bonus get paid? For most people it will go directly into a current account, instant access or limited access savings account. The payment should arrive by 30 April 2025. If they can't, and you have a mortgage with them, they will pay £50 into the bank account used to pay your mortgage Direct Debit. As long as the account is in your name, the payment should arrive by April 30 2025. All other payments will be made by cheque. Cheques will be sent by May 14 2025. They must be paid in by 1 January 2026 to make sure you don't miss out on the payment. Recommended reading: Is this different to the £100 Nationwide Fairer Share payout - can you get both? Yes, and yes. The Big Nationwide Thank You is in addition to the £100 Fairer Share Payment, so customers could get both. "We would like to make another Fairer Share Payment this year" the website says. "This will depend on how we perform financially. We'll announce our decision when we publish our results for the 2024/25 financial year." This is expected to take place on May 29.
Daily Mirror
30-04-2025
- Business
- Daily Mirror
Last day for Nationwide customers to get £50 bonus payment - check if you're eligible
Today is the final day Nationwide customers will receive their £50 bonus payment. Around 12 million people are set to receive the free cash payment as part of the "Big Nationwide Thank You" initiative. Nationwide says the majority of the payments have been made to eligible members, with the final 5% set to receive it in their bank accounts by Wednesday, April 30. The high street building society announced: "As long as the account is in your name, the payment should arrive by 30 April 2025. If we can't, and you have a mortgage with us, we will pay £50 into the bank account used to pay your mortgage Direct Debit." It's important to note that payments made by cheque will take a little longer to arrive. Customers who receive the money this way should expect it by May 14. They then have until January 2026 to cash the cheque into their account. The "Big Nationwide Thank You" payment was issued as a gesture of gratitude to Nationwide members for their contribution to the takeover of Virgin Money. The £2.9billion deal was completed in October 2024. Overall £60million was paid out. Debbie Crosbie, Nationwide CEO, said: 'Nationwide became even stronger when it bought Virgin Money and we are already improving services for its customers. "The Big Nationwide Thank You recognises the role our members played in building the financial strength that made the deal possible. It's another of the very real benefits of being a member of Nationwide and our modern mutual model.' Join Money Saving Club's specialist topics In association with Money Saving Club For all you savvy savers and bargain hunters out there, there's a golden opportunity to stretch your pounds further. The Money Saving Club newsletter, a favourite among thousands who thrive on catching the best deals, is stepping up its game. Simply follow the link and select one or more of the following topics to get all the latest deals and advice on: Travel; Property; Pets, family and home; Personal finance; Shopping and discounts; Utilities. SIGN UP HERE To be eligible for the £50 payment, you will need to have had a savings or current account, or mortgage, at the end of last September. You must also have made at least one transaction through your current account or savings, or had a balance of at least £100 in your current account, savings or mortgage, in the 12 months to the end of September 2024. You can also check your eligibility on the Nationwide website. The "thank you" payment is separate to the £100 "Fairer Share" payment that the building society has paid out to members over the last two years. This is based on its financial performance, with Nationwide set to confirm its next set of results on May 29 this year. The building society should confirm if another round of "Fairer Share" payments will be made on this date.
