In today’s tough economic climate, where the cost of living continues to rise, every little bit of extra support can make a big difference. Nationwide, one of the UK’s largest building societies, has introduced an exciting opportunity for eligible account holders to receive a one-off £100 bonus.
This initiative is part of their “Fairer Share Payment” scheme, designed to share some of their profits with members who are actively banking and borrowing or saving with them.
In this article, we’ll break down everything you need to know about how to qualify for the £100 bonus, including the eligible accounts, conditions, and payment details.
Nationwide’s £100 Fairer Share Payment
Nationwide has revealed that it will offer a £100 bonus to members who meet the criteria for qualifying current accounts, savings accounts, or mortgages. The initiative is aimed at providing financial relief to eligible members, especially in these challenging times. Here’s a breakdown of the main conditions to qualify:
- Qualifying Current Accounts: You must hold a qualifying current account as of March 31, 2024. These accounts include:
- FlexPlus: This account is eligible as long as the monthly fee is paid.
- FlexOne: Available to young customers.
- FlexStudent and FlexGraduate: Eligible if there’s at least one transaction in March 2024.
- FlexAccount, FlexDirect, FlexBasic: Must meet specific conditions related to payments and deposits.
- Qualifying Savings Accounts: Customers must have at least £100 across their personal savings accounts or cash ISAs with Nationwide at the end of March 2024.
- Excluded: Savings in investment accounts, stocks, shares, or assets in someone else’s name.
- Qualifying Mortgages: If you had at least £100 owed on a residential mortgage with Nationwide by March 31, 2024, you qualify. This excludes mortgages with Nationwide’s subsidiaries like The Mortgage Works or UCB Home Loans.
Conditions for Receiving the £100 Bonus
To qualify for the £100 Fairer Share Payment, Nationwide account holders need to meet one or more of the following conditions:
Current Accounts
- For FlexAccount, FlexDirect, and FlexBasic:
- Condition 1: Received at least £500 in payments during two of the months (January, February, March 2024).
- Condition 2: Made at least two payments out of your current account during those months, or
- Condition 3: Made at least 10 payments in total during the three months.
Savings Accounts
- Savings Eligibility: A minimum of £100 must be held in your Nationwide savings accounts or ISAs as of March 31, 2024.
Mortgage Eligibility
- Mortgage Requirement: You need to owe at least £100 on your residential mortgage with Nationwide by March 31, 2024.
Joint Accounts and Special Circumstances
- Joint Accounts: If you hold a qualifying account (current, savings, or mortgage) jointly, both account holders are eligible to receive the £100 bonus. The entire balance of the account counts towards each person’s eligibility.
- Managing Accounts for Others: Accounts held under power of attorney will not be considered eligible for the bonus. Only the named individual will benefit.
- Switching Accounts: Customers who switched their accounts between January 1 and March 31, 2024, do not need to meet the regular transaction or payment conditions. They will automatically qualify for the bonus.
How to Receive Your £100 Bonus
Nationwide has confirmed that the payments will be made to qualifying customers between June 13 and June 28, 2025. Here’s how the payments will be processed:
- Payment Method: The £100 will be credited directly into your Nationwide current account.
- Multiple Accounts: If you hold more than one current account, Nationwide may choose any of your accounts to deposit the £100.
- Joint Accounts: If you hold a joint account, the payment will be made into that account, unless you also have a personal current account, in which case, the payment will go into that.Payment Statement
The payment will appear on your statement as “Nationwide Fairer Share Payment.” Nationwide has emphasized that if a customer believes they were wrongly excluded from the payment, they should contact the bank for clarification and correction.
Payment Conditions and Timing
- Payment Timeline: Nationwide will start distributing the £100 bonuses between June 13 and June 28, 2025.
- Errors in Payment: Nationwide has reassured customers that if any eligible customer is missed or wrongly excluded, the bank will correct the mistake. However, Nationwide will not be liable for any loss incurred due to delays or issues with the application process.
| Account Type | Requirement | Conditions | Eligibility |
|---|---|---|---|
| FlexPlus | Open by March 31, 2024 | Must pay the monthly fee | Eligible |
| FlexOne | Open by March 31, 2024 | Must be a youth-oriented account | Eligible |
| FlexStudent/ FlexGraduate | Open by March 31, 2024 | Must have at least one transaction in March | Eligible |
| FlexAccount, FlexDirect, FlexBasic | Open by March 31, 2024 | Meet payment and deposit conditions | Eligible |
| Savings | £100 minimum in savings by March 31, 2024 | Must be in a personal savings or cash ISA | Eligible |
| Mortgage | £100 minimum owed on residential mortgage | Excludes mortgages from subsidiaries | Eligible |
Nationwide’s £100 bonus offers valuable support to members who qualify, helping them weather the financial challenges posed by the ongoing cost-of-living crisis.
With clear conditions for eligibility and a straightforward payment process, it’s worth checking your accounts to see if you qualify for this generous offer. Be sure to review the details and ensure all conditions are met to avoid missing out on this opportunity.
Who qualifies for Nationwide’s £100 bonus?
You qualify if you hold a qualifying current account, savings account, or mortgage with Nationwide, meeting the specific conditions set out by the bank.
How will the £100 bonus be paid?
The payment will be made directly to your Nationwide current account, either into a joint or personal account depending on your circumstances.
When will the payment be made?
Payments will be made between June 13 and June 28, 2025.
