Certain existing Nationwide customers have received £100 summer bonus payouts over the past two years. While not guaranteed, Nationwide could reportedly offer payments again this year.
This is part of the building society’s Fairer Share Payment scheme, which saw eligible customers with current accounts receive the bonus last summer. While there’s no official confirmation yet on whether the scheme will continue in 2025, reports suggest customers could hear more around May, when payments were announced previously.
In June last year, Nationwide distributed £385 million among 3.85 million members in the second Fairer Share Payment.
The scheme was first announced on May 19, 2023.
Experts from Martin Lewis’ Money Saving Expert (MSE) recommend that members hoping to qualify for potential bonuses this year keep their current accounts open until at least March 31. Based on last year's criteria, MSE advises customers to be active with their current accounts in the first three months of this year, though specific requirements depend on the type of account.
For example, customers with a Flex Account, Flex Basic, or FlexDirect account must either pay at least £500 into the account and make two outgoing payments in two of the three months (January, February, or March) or make at least 10 payments out during two of those months.
Other accounts, including FlexOne, FlexStudent, and FlexGraduate, have different criteria, such as requiring both incoming and outgoing payments in March to qualify.
Previously, customers using any account were required to have at least £100 in savings or cash ISAs at the end of March to qualify.
This potential good news for Nationwide customers follows an announcement last November that the building society gained £2.3 billion after acquiring rival Virgin Money.
However, Birmingham Live reported that 12 million customers missed the £100 payment last year due to Nationwide’s strict eligibility criteria.
For those not currently with Nationwide, the building society is offering £175 to new customers who switch to a FlexPlus, FlexDirect, or FlexAccount, provided they meet the following criteria:
The switch must be completed within 28 days, and within 31 days of requesting the switch, the customer must:
