Nationwide £100 bonus payments land in current accounts from today
Time to CHECK your balance! Millions of customers across the country will see £100 loyalty bonus payments in current accounts starting today
- Building society Nwide pays £100 to clients this month
- The first wave of payments is coming into bank accounts starting today, but not all are eligible
Customers across the country should check their bank accounts as it starts paying out £100 bonus payments to millions of people from today.
Last month, Britain’s largest building society bank made huge profits and announced it would be handing out £100 to customers through its new Fairer Share scheme.
However, mAll Nationwide customers are disappointed, as less than a quarter of the 16 million members qualify.
But those who do will get £100 between June 13 and 30 – and joint account holders can get £100 each.
Cashback: Millions of customers nationwide get £100 this month
Who is eligible for the £100?
To be eligible, Nationwide customers – also referred to as “members” – must have had a Nationwide checking account since at least March 31 and have kept it open until June.
They must also have at least £100 in Nationwide savings accounts by March or owe at least £100 on a Nationwide residential mortgage by March 31.
The rules mean that loyal members who have been saving with the construction company for years or even decades will miss out if they also don’t have a national checking account.
What should I do if I don’t get my £100?
The first thing to do is wait and see as payments will be made in June.
Nationwide has already written to all the customers they think should pay the money, which means you should have gotten a letter through the door.
If you haven’t received your £100 by 30 June and you believe you qualify, please check the criteria above and contact Nationwide.
Those who only have nationwide joint accounts will have it deposited into them.
What is fairer sharing?
Nationwide launched its Fairer Share Payment after posting strong financial results and a profit of £2.2 billion.
Because Nationwide is a mutual company, it can choose to share profits with its customers – all of whom are members of the building society – rather than handing them over to shareholders, as banks do.
Payments automatically go to the checking accounts of eligible members in June.
Nationwide says it plans to make the payment annually if profits allow.
You can find more information on the National Fairer Share Payment website.