02-06-2025
Exact date in weeks millions of Nationwide customers to get free £100 – check if you're eligible
MILLIONS of Nationwide customers are about to get a free £100 in their bank accounts in just weeks to come.
The building society is handing out the cash as part of its Fairer Share scheme, rewarding loyal customers with a slice of a whopping £410million pot.
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If you qualify, the money will land between June 18 and July 4.
The payment will go straight into your Nationwide current account, so you won't have to worry about any forms.
To qualify, you must have opened your main current account with Nationwide by March 31 this year.
On top of that, you'll need to either have a savings balance of £100 or more, or owe at least £100 on your mortgage by the same date.
Plus, your account has to show some activity between January and March - so it can't just be sitting there gathering dust.
An estimated four million people will pocket the payout this year.
It will be the third year in a row Nationwide has rewarded customers in this way.
Boss Debbie Crosbie said: 'Nationwide has had an outstanding twelve months. We returned a record £2.8billion in value to members and remain number one for customer service.'
So if you're a regular Nationwide user and tick the right boxes then it's happy days.
And if that wasn't enough, there's another sweetener on the table.
The bank has just launched a £200 switching bonus for newbies, plus a Member Exclusive Bond that pays a tidy return.
Anyone who saves the full £10,000 in the bond will bag £762.50 in interest over 18 months – that's £150 more than its next best offer.
The £100 payment is separate from the £50 one-off bonus paid earlier this year to 12 million members.
What if i don't bank with Nationwide?
If you're not banking with Nationwide as yet, you will have to sit this one out unfortunately.
However, it's not all doom and gloom.
Other banks are getting in on the free cash action too.
Santander is currently offering a free £180 for switching your current account over.
TSB is giving new customers who switch to the high street bank a £100 switching incentive.
You get the £100 upfront but if you spend on you debit card for 20 times in the first six months you get a £15 a month cash back.
Co-op bank is also paying £175 to new customers.
And its not just traditional banks offering up freebies.
Customers can also cash in on free perks with popular digital banks.
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.
