Latest news with #Fairer
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Scotsman
03-06-2025
- Business
- Scotsman
Major UK bank to pay £100 free to millions of customers
The bank is rewarding millions of customers with a surprise £100 bonus this summer 💷 Sign up to the weekly Cost Of Living newsletter. Saving tips, deals and money hacks. Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Nationwide is giving £100 to 4 million customers as part of its annual Fairer Share scheme No need to apply – the money will be paid automatically between 18 June and 4 July You must have had a Nationwide current account on March 31, 2025 and used it between January and March You also need £100+ in savings or a mortgage with Nationwide during March 2025 Watch out for scams – you don't need to click any links, share details, or 'claim' the cash A major UK bank is handing out £100 to millions of customers – no strings, no applications, just cash. Nationwide is dishing out £400 million as part of its Fairer Share scheme, rewarding four million current account holders who also save with it or have a mortgage Advertisement Hide Ad Advertisement Hide Ad This is the third year in a row it's done this, after reporting huge annual profits of £2.3 billion for the year to 31 March 2025. So if you're eligible, £100 will land directly in your Nationwide current account between Wednesday, June 18 and Friday, July 4, showing up as a 'Nationwide Fairer Share Payment'. No action needed – just don't close your account before then, or you'll miss out. Here is everything you need to know about it. (Photo:) | Getty Images Who is eligible? Not everyone with a Nationwide account qualifies. You need to have had a Nationwide current account on 31 March 2025, and used that account between January and March 2025. What counts as account 'use' depends on the account type: Advertisement Hide Ad Advertisement Hide Ad Account type Activity that qualifies FlexAccount, FlexBasic, FlexDirect EITHER: Paid in £500 and made 2+ outgoing payments in two of the three months OR Made 10+ outgoing payments in two of the three months OR Switched to Nationwide during that period FlexOne, FlexGraduate, FlexStudent EITHER: Any payment in or out in March OR Switched to Nationwide (FlexOne/FlexStudent only) between Jan–Mar FlexPlus (packaged account) Just paying the monthly fee counts as activity Note that for all account types, outgoing payments can include Direct Debits, debit card use, standing orders, and bank transfers (not to your own Nationwide accounts). To qualify for the £100, you'll also had to have had at least £100 in savings with Nationwide on any day in March, or owed at least £100 on a Nationwide mortgage on 31 March. How to claim your £100 payment If you're eligible, Nationwide should have contacted you by Friday 30 May via email or post. Advertisement Hide Ad Advertisement Hide Ad But if you have heard anything, you can also log in to online banking, use Nationwide's eligibility checker, or ask via its live chat. Note that you don't need to do anything to get the £100. It'll be paid automatically. So ignore any texts, calls, emails or social media messages asking you to 'claim' the money – these are scams. Is the £100 taxable? Yes – but most people won't pay tax on it. The £100 is classed as savings income, treated the same as interest. Most people won't pay tax due to the Personal Savings Allowance (£1,000 for basic-rate taxpayers). But higher-rate taxpayers or those with large non-ISA savings might owe tax. Advertisement Hide Ad Advertisement Hide Ad If you don't file a tax return, there's no action needed – HMRC will be automatically informed. But if you file a yearly self-assessment, you'll need to declare the £100 in your return. Those receiving Universal Credit should be aware that the Department for Work and Pensions (DWP) has confirmed that the £100 counts as capital. That only matters if it pushes your total savings over £6,000 (joint savings count for couples). If it does, you'll need to report it.
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.
Scotsman
16-05-2025
- Business
- Scotsman
Nationwide bonus 2025: key date revealed for banking bonus
Millions of Nationwide members could get rewarded again this year 💷 Sign up to the weekly Cost Of Living newsletter. Saving tips, deals and money hacks. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Nationwide may pay a £100 'Fairer Share' bonus to members again in 2025 The decision will be announced on 29 May with Nationwide's full year results In 2024, £385 million was paid to 3.85 million members under this scheme Bonus eligibility requires an active current account plus savings or mortgage Payments, if approved, are expected to be made between mid and late June Building society members eager for their annual £100 'Fairer Share' bonus now have a crucial date to mark in their calendars. Nationwide has revealed when the decision on whether the popular payment will return in 2025 will be made alongside its full year financial results. Advertisement Hide Ad Advertisement Hide Ad For the past two years, Nationwide has rewarded millions of loyal members with the exclusive bonus, paying out a total of £385 million to 3.85 million customers in 2024 alone — up from £340 million the year before. The 'Fairer Share' scheme is designed to thank members who use Nationwide for their everyday banking and also hold a savings account or mortgage with the society. (Photo:) | Getty Images But the bonus isn't guaranteed. The building society's Board decides annually if the scheme can continue, based on Nationwide's financial performance. A spokesperson said: 'The Fairer Share payment for 2025 will depend on our financial results, which we will announce on [Thursday] May 29.' Advertisement Hide Ad Advertisement Hide Ad This payment is separate from Nationwide's recent 'Thank You' bonus, where millions received £50 following the Virgin Money UK acquisition. Who could qualify for the 2025 bonus? While details for this year haven't been released yet, last year's criteria give a clear picture of who might benefit: Those who hold an open Nationwide current account by 31 March 2025 and keep it active (either by depositing at least £500 or making at least 10 outgoing payments within the first three months of the year). Those who have either a Nationwide savings account with a minimum balance of £100 or a mortgage with at least £100 outstanding. If the bonus goes ahead, members who qualify can expect to hear from Nationwide around Saturday, May 31, with payments likely arriving between mid and late June. Advertisement Hide Ad Advertisement Hide Ad For now, Nationwide customers should keep an eye on that May 29 announcement — it could bring welcome news for millions hoping to receive the popular bonus again.
