Nationwide Building Society has issued an update regarding a potential £100 payout for millions of its members. The Fairer Share Payment is a scheme for the building society to share out part of its profits to members.
As part of last year’s payment, some four million customers received £100 each. One inquisitive customer reached out to Nationwide via social media to enquire about the possibility of another £100 payment for members this year.
In reply, Nationwide said: “Nationwide’s board will decide on a Fairer Share payment for 2025 and it will depend on our financial performance. The decision and details on eligibility will be announced as part of our full year results end of May.”
Nationwide was previously asked for a statement concerning the upcoming round of the Fairer Share Payment. A spokesperson provided a similar response then: “Nationwide’s Board will decide on a Fairer Share payment for 2025 and it will depend on our financial performance.
“The decision will be announced as part of our full year results May 29.” Those eligible for the previous year’s payment included many types of customers, including those with a current account, a savings account or a mortgage, as long as you met certain other criteria.
Nationwide’s customers enjoyed another bonus recently, with the group dispersing £50 payments to over 12 million members. This was as a gesture of appreciation to loyal customers following Nationwide’s successful takeover of Virgin Money.
The payments were issued either as a direct deposit into bank accounts or via cheque. One customer reached out to Nationwide with an enquiry about whether or not they could deposit the cheque into an account not held with Nationwide.
In response, the provider clarified: “The cheque can be paid into another current account as long as the account is in your name.” Eligibility for the payment required you to have been a member of Nationwide on September 30, 2024, and to still be a member when the payments went out.
There were also qualifying criteria to meet as regards your account activity. In the 12 months to the end of September 2024, you needed to have either:
- At least one qualifying transaction on your Nationwide current account or savings account, or
- At least £100 in total in one or more of your Nationwide current accounts and savings accounts, or
- Owed at least £100 in total on one or more Nationwide residential mortgages.
