Nationwide gives update on £100 bonus payment for customers

Nationwide has shared a new update on its £100 bonus payment which has been paid to customers for the past two years, as a key date to watch out for is revealed.

In 2023 and 2024, the building society gave its members this exclusive ‘Fairer Share’ bonus if they met certain criteria. Last year, a total £385 million was paid to 3.85 million Nationwide members, up from £340 million between 3.4 million members the year before.

The popular retail bank has now confirmed that all the details about this years’ payment scheme will be revealed on 29 May, when it releases its full year results.

This is because the running of the scheme is subject to the building society having a strong financial performance in the year. An explanation from Nationwide reads: “The Fairer Share Payment is our way of rewarding those members who choose us for their everyday banking as well as having savings or a mortgage with us.”

A Nationwide spokesperson said: “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 29 May.”

This payment is separate to Nationwide’s recent ‘Thank You’ payment, which saw millions of members receive £50 after the banking giant purchased Virgin Money UK in October in a deal that boosted its accounts by £2.3bn.

But the £100 payment in not guaranteed, and is subject to customers meeting certain eligibility.

The building society has not yet released details of this year’s bonus – or if it is happening – but the qualifying criteria for the last two payments gives a good idea of who can benefit.

Who can qualify for Nationwide’s 2025 bonus payment?

Based on last years’ criteria, applicants must first have held an open Nationwide current account by 31 March 2025. The bank will be checking eligibility on this date, and it's advisable to keep the account open at least until the payment arrives as it is exclusive to current members.

The account must also have been actively used within the first three months of the year. This involved either depositing at least £500, or making a minimum of ten outgoing payments (excluding transfers to other Nationwide accounts held by the same individual). Outgoing payments can include bank transfers and standing orders.

A further stipulation, which may catch many unaware, involved holding either a Nationwide savings account or mortgage. Last year's criteria mandated a minimum balance of £100 in the savings account or at least £100 outstanding on the mortgage.

Nationwide offers a variety of savings accounts, including the Flex Instant Saver, which provides 3 per cent interest on unlimited withdrawals, and the Flex Regular Saver, offering 6.5 per cent interest but capped at three withdrawals.

Based on the previous year's timeline, those who meet all the requirements should be contacted by Nationwide on 31 May, with payments expected to arrive between 13 and 28 June,