Latest news with #NationwideFairerShare
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'.
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.
The Herald Scotland
28-04-2025
- Business
- The Herald Scotland
Nationwide Thank You £50 bonus payout due this week
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. "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."
