Nationwide Building Society is handing out £100 to eligible customers this summer to reward their loyalty.
Nearly four million members will benefit from the initiative in a move that will see the mutual “share profits”.
In a statement on its website, it wrote: “At Nationwide we don’t just have customers, we have members. And membership means sharing in our profits through the Nationwide Fairer Share Payment.
“This year, we’re sharing our profits with nearly 4 million of our members.
“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.”
Those who are eligible for the Fairer Share Payment can expect to see the money land in their account between June 13 and June 2028, 2024.
The building society added: “You don’t need to do anything. So long as you still have an open current account with us, we’ll transfer it straight to you.
“Should you only have a joint current account, this is where we’ll make the payment.”
Who is eligible for Nationwide’s £100 payment?
To be eligible, customers will need a qualifying current account plus either qualifying savings or a qualifying mortgage.
They would have needed to meet this criteria when Nationwide last checked on March 31, 2024. People can check if they qualify using the eligibility tool.
Members eligible for the payment will be contacted by May 31, 2024.
Responding to the news, one X user wrote: “Nationwide the bank you are !!! Nationwide is giving out another £100 to their customers made my day seeing that email !!!” (sic)
Another user wrote: “Fair play to @AskNationwide giving its members £100 just in time for the Euros!”
One family have managed to all qualify and is due to land a £400 payment. The X user wrote: “I got the email!! So did my wife. So did my eldest child and so did my youngest child. 1 household = 4 x £100.” (sic)
Another noted how the payment “will go a long way”. They wrote on X: “Thank you @AskNationwide for your kind email. £100 goes a long way for someone like me. There’s a reason I’ve been a member with you for 20 years.”
