Nationwide is offering a free £100 to certain customers as part of its 'Fairer Share' scheme.
This remains separate from the £50 payouts linked to the Virgin Money deal announced this week.
The bonus will be paid to millions of its current account customers who also have savings or a mortgage with the lender.
According to the Daily Mail, this week, the building society said it hoped to announce a new Fairer Share Payment in May.
However, it added that this was dependent on the group's financial performance.
Whether you want to speak to a real person in branch, or do your banking online, there are many ways you can bank with us.
— Nationwide (@AskNationwide) January 2, 2025
If you need support, get in touch: https://t.co/PBQ6UL8e26 pic.twitter.com/nHDrHeLoLb
This is the second time Nationwide has made this kind of payment. Last year, it paid a total of £340 million to 3.4 million customers.
Since the scheme was launched in 2023, the building society has paid more than £700million to customers.
The building society has around 16 million existing members, but less than four million qualified for the Fairer Share scheme payout in 2024.
To qualify for the Fairer Share payout, members typically need a qualifying active Nationwide current account, plus either a qualifying Nationwide savings account or cash Isa - or a Nationwide mortgage.
Who's eligible for the £100 Nationwide payment?
You must have a Nationwide current account
Your account must have been opened on March 31, 2024.
You must have used your current account earlier this year
You must also have had savings or a mortgage with Nationwide in March 2024
Savings: You must have held at least £100 across one or more Nationwide personal savings accounts or cash ISA at the end of any day in March 2024.
Recommended reading:
- Anger as Poundland stores possibly 'facing closure' amid 'challenging' landscape
- Nationwide customers could be £392 better off next year
-
Nationwide issues card warning to millions of customers
Mortgage: You must have owed at least £100 on a Nationwide residential mortgage on 31 March 2024.
If you've withdrawn your savings or paid off your mortgage since the end of March, you'll still qualify provided your current account remains open.
When will I get the payment?
The money will be paid directly into your Nationwide current account between Thursday, June 13 and Friday, June 28 and will appear on your statement as 'Nationwide Fairer Share Payment'.
The building society previously confirmed that Virgin Money's customers will not be eligible for any payment.
Share