Nationwide has unveiled its latest round of £100 Fairer Share payments, set to benefit 4.4 million members. This marks the fourth consecutive year that Nationwide is distributing these bonuses, as confirmed in their recent financial results announcement.
To qualify for this payment, members must hold a qualifying current account along with a savings account or mortgage with Nationwide. For account holders with FlexAccount, FlexDirect, or FlexBasic, they must have received £500 in their account for two out of the three months of January, February, and March, and completed at least two transactions.
Customers who have made at least ten transactions from their current account in two of the three mentioned months, or those who have switched to Nationwide using the Current Account Switch Service between January and March, also qualify for the payment.
FlexOne, FlexStudent, and FlexGraduate account holders must have made at least one payment into or out of their account in March, unless they recently switched to Nationwide between January and March. FlexPlus customers only needed to pay the £18 monthly fee to be eligible for the £100 bonus.
For savings account holders, a minimum of £100 must have been saved by the end of any day in March, while mortgage customers should have had at least £100 left to pay off by the end of the same month.
The payment will be automatically credited to eligible Nationwide accounts starting from June 10, without the need for any application. While the bonus is considered as savings for tax purposes, customers can earn up to £1,000 in interest annually before being liable for tax.
Dame Debbie Crosbie, Nationwide’s Chief Executive, expressed the institution’s growth across various financial products, leading to another round of Fairer Share payments and the introduction of a new Member Exclusive Bond. In the previous year, Nationwide disbursed £400 million to over four million customers, totaling £1.5 billion since the program’s inception in 2023.
