Millions of Nationwide customers may receive a £100 summer bonus as part of its Fairer Share scheme, announced for eligible account holders. Over three million customers who used their current accounts in March and have a mortgage or savings account may qualify, similar to previous years. A confirmation is expected on May 29, with payments potentially following in June, pending approval. This scheme adds to Nationwide’s history of customer giveaways, including recent payments to millions after acquiring Virgin Money. Nationwide aims to maintain such initiatives based on its financial status and intends to run the Fairer Share scheme again in 2025.
Summer bonus payments could potentially benefit millions
Customers at Nationwide who utilized their current accounts in March may qualify for a £100 summer bonus.
The largest building society in Britain might offer more payments as part of its Fairer Share initiative.
In the past two years, over three million eligible customers have benefited.
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Last year, customers had to have used their current accounts until March 31.
This means making purchases in stores with a debit card, setting up direct debits, or receiving money like salaries.
Additionally, they needed to hold either a mortgage or a savings account with Nationwide, with at least £100 in savings or a mortgage debt of at least £100.
If the same criteria apply this year, customers using current accounts in March could expect a payday, provided they also have a mortgage or savings account and fulfill the criteria.
While the building society has not yet confirmed the return of the scheme this year, experts are optimistic.
A formal announcement is anticipated on May 29.
If the scheme receives approval, payments are expected to be distributed in June.
This would follow Nationwide’s recent £50 ‘big thank you’ payments to over 12 million customers after the acquisition of Virgin Money.
Company leaders assert that such initiatives are compelling reasons for customers to choose Nationwide.
The scheme is not guaranteed to occur annually; decisions are based on Nationwide’s financial health each year.
However, senior officials have indicated a strong intention to reintroduce the Fairer Share scheme in 2025.