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Scotsman
5 days ago
- 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.
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Scotsman
5 days ago
- 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 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 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.
Daily Record
29-05-2025
- Business
- Daily Record
Check if you're eligible for Nationwide £100 payment being offered to millions
The building society is dishing out bonus cash to more than four million people, with payments to drop in weeks. Nationwide has confirmed that they will be giving out another round of £100 payments to millions of their customers. The bonus cash will be dished out over the coming weeks. The move, confirmed today, Thursday, May 29, is part of the building society's Fairer Share scheme, where they share their profits with customers. And more than four million people are set to benefit to the tune of £100 this summer. The windfall will be paid directly into eligible Nationwide current accounts between Wednesday, June 18, and Friday, July 4. In order to qualify, you must have both a selected Nationwide current account as well as a savings account or mortgage with the banking giant. For a current account to be eligible, it must have been opened on or before Monday, March 31, 2025, and savings accounts must have had at least £100 saved at the end of any single day in March 2025, The Mirror reports. If you have a mortgage with Nationwide, you must have at least £100 left to pay off by March 31, 2025. If you have qualified, Nationwide will contact you by email or letter by tomorrow, Friday, May 30. The building society is in a position to offer these Fairer Share payments after recording a 30 per cent increase in annual profits following its takeover of Virgin Money. They reported pre-tax profits of £2.3billion for the year up to March 31, a whopping £1.8billion more than in the previous year. On an underlying basis, Nationwide's pre-tax profits dropped from £2billion to £1.9billion as bosses claimed they had focused on offering competitive interest rates for customers, while they also paid out a record £2.8billion in rewards to their members. Within that was a separate £50 payment earlier this year that customers received as a 'thank you' following the Virgin Money takeover. Today's announcement means Nationwide has confirmed three Fairer Share payments to their customers. After making £2billion profits in 2024, they distributed £385million to 3.85million customers. The previous year, 3.4million lucky members received a share of £340million. Nationwide chief exec, Debbie Crosbie, said: "Nationwide has had an outstanding 12 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.' Read on to find out if your account entitles you for a Fairer Share bonus, and what criteria you would need to meet. Nationwide Fairer Share - qualifying current accounts FlexOne, FlexStudent, or FlexGraduate You must have received at least one payment, or made one payment from your account, during March 2025. If you completed a switch to your account using the Current Account Switch Service between January 1, 2025 and March 31, 2025, this does not count. FlexAccount, FlexDirect, or FlexBasic During two of January, February, and March 2025, you must have received at least £500 into your current account, not including transfers from other Nationwide accounts, while also making at least two payments out of your current account. Or you must have made at least ten payments out of your current account. This does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2025 and March 31, 2025. FlexPlus You must pay the monthly fee for maintaining the account. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'.
Scottish Sun
24-05-2025
- Business
- Scottish Sun
Exact date in DAYS millions of Nationwide customers will find out if they'll get £100 free cash
See below for what you can do if you don't qualify for the £100 CASH BOOST Exact date in DAYS millions of Nationwide customers will find out if they'll get £100 free cash Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) MILLIONS of Nationwide customers will find out in days whether they qualify for a free £100 payment. The building society is set to confirm whether it will issue its third successive Fairer Share payment. Sign up for Scottish Sun newsletter Sign up 1 Nationwide is set to announce whether it will issue a Fairer Share payment for 2025 Credit: PA The bank made payments to millions of customers in 2023 and 2024 and is likely to do the same again this year. However, it will not 100% confirm whether the cash will be issued until May 29, when it releases its full-year results. Nationwide confirmed it would issue the previous two Fairer Share payments in May and then made them in June. Last year, it paid out a total of £385million to 3.85million customers and the year before £340million to 3.4million people. In December, the building society's boss said it was "well-positioned" to make the payment for a third time in 2025. It's worth bearing in mind, the £100 Fairer Share payment is separate to the £50 issued to around 12million Nationwide customers between April 9 and May 14. Who qualifies for the Fairer Share payment? Nationwide hasn't confirmed what the eligibility criteria is for the 2025 Fairer Share payment because it hasn't confirmed yet whether it is being issued. Assuming the payment is made this year and eligibility criteria remains the same as in 2024, you'll need to have done two things. You must have had: A qualifying current account and qualifying savings Or a qualifying current account and a qualifying mortgage. Switch bank accounts for free perks You will also need to have used your current account within the first three months of the year, so between January to March. But there are also additional requirements based on the type of current account you have. For example, those with a FlexPlus account need to have paid the monthly fee to maintain the account. Those with a FlexOne, FlexStudent or FlexGraduate account must have received at least one payment in or made one payment out of the account in March. Those with a Flex Account, Flex Basic and FlexDirect account must either have paid at least £500 into the account and made two payments out. Or, the same customers may also qualify if they made at least 10 payments out. Your savings account or cash ISA will qualify if you had a minimum of £100 in it "at the end of any day in March". A mortgage will qualify if you owed at least £100 on it. The full eligibility criteria for the 2024 payment can be found via What about if I'm not a Nationwide customer? The bad news is that if you're not with Nationwide, it's likely too late to switch to the building society to qualify for the £100 payment. However, even if you're not switching to Nationwide, it pays to do an audit of your bank accounts to make sure you're getting the most out of them. Make sure you're getting a competitive interest rate on your savings account as you could be earning more. Recent figures published by the Bank of England revealed around £280billion is sitting in accounts paying zero interest. Yes, some of this will be in current accounts, but it is likely there are people with money sitting in savings accounts paying little to no interest who could be getting more bang for their buck. You can shop around for the best savings accounts via comparison sites like or Meanwhile, if you're with a bank or building society that's not offering you the best service, you could switch to another and get a switching bonus. TSB, First Direct and Co-op are all offering up to £310 in free money for people choosing to move their current accounts across. First Direct's offer is only worth £175 but it does have a 92% customer service rating on compared to 38% for TSB and 45% for the Co-op, so factor that in if you are switching. How do I switch bank accounts? SWITCHING bank accounts is a simple process and can usually be done through the Current Account Switch Service (CASS). Dozens of high street banks and building societies are signed up - there's a full list on CASS' website. Under the switching service, swapping banks should take seven working days. You don't have to remember to move direct debits across when moving, as this is done for you. All you have to do is apply for the new account you want, and the new bank will tell your existing one you're moving. There are a few things you can do before switching though, including choosing your switch date and transferring any old bank statements to your new account. You should get in touch with your existing bank for any old statements. When switching current accounts, consider what other perks might come with joining a specific bank or building society. Some banks offer 0% overdrafts up to a certain limit, and others might offer better rates on savings accounts. And some banks offer free travel or mobile phone insurance with their current accounts - but these accounts might come with a monthly fee. Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
Business Mayor
12-05-2025
- Business
- Business Mayor
Nationwide members who are 'most likely' to get £100 bonus
Nationwide may well be about to distribute millions of £100 'fairer share' bonuses to customers who meet certain criteria. The world's biggest building society made these payments in 2023 and then again last year. While the free cash has not yet been confirmed for 2025, Nationwide said earlier this year that it hoped to repeat the bonuses. An announcement is expected to be made this month. And back in February the team at Martin Lewis' Money Saving Expert (MSE), outlined how Nationwide members could 'max their chances' of receiving the payment. MSE said any payments would likely be made in June. Last year, Nationwide said it would be 'sharing our profits with nearly 4 million of our members,' adding that the 'Fairer Share Payment is our way of rewarding those members who choose us for their everyday banking as well as having savings or a mortgage with us.' At the time Nationwide explained the criteria: 'Members will need a qualifying current account plus either qualifying savings or a qualifying mortgage. And they would have needed to meet this criteria when we last checked on 31 March 2024.' In 2024, most members received their payments between June 13 and June 28 and MSE suggested those most likely to get the cash this year, if the scheme runs again, should have had their accounts open until at least March 31. People were also advised to actively use the accounts during the first quarter of 2025. Previous eligibility criteria has also differed, depending on which type of account is held. FlexAccount, FlexBasic, and FlexDirect holders were required to deposit a minimum of £500 in two of the first three months of the year and make two payments from your account, or you'll need to make 10 or more payments from your account over this same period. The MSE article highlighted that this second option was a benchmark in 2024 but not in 2023. MSE guidance further explained: MSE further explains: 'For those with a FlexPlus packaged account: Just paying the fee counts. For those with a FlexOne, FlexGraduate, FlexStudent account: Make a payment IN or OUT of your account in March 2025. Payments can include debit card transactions, Direct Debits, bank transfers and standing orders (but not transfers to other Nationwide accounts you have).' In addition to these steps, MSE said you'll also need to have at least £100 in savings, or owe at least £100 on a mortgage with Nationwide, in March 2025, according to MSE. However, it said this was all just based on previous criteria and there are 'no guarantees'. READ SOURCE
