Latest news with #FairerPayment
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.
