Over the past two years, Nationwide has given out a “Fairer Share” bonus worth £100 to millions of its members.
Last year, a total of £385million was paid out in June to 3.85 million customers after the building society announced profits of £2billion. But not everyone received the bonus – you had to meet certain eligibility criteria. Nationwide has not yet revealed whether it will issue a third “Fairer Share” bonus this year, but there are ways you can maximise your chances now, in the event that it does confirm the payment.
It is all dependent on the financial performance of Nationwide. Last year, Nationwide confirmed its “Fairer Share” payment for 2024 in May and anyone who was eligible was paid the £100 between June 13 and June 28. It is likely a third payment would follow a similar timeframe.
Those who were eligible for a payment last year, needed to have a qualifying current account, plus a mortgage or savings account with Nationwide. Last year, your current account needed to have been opened on or before March 31, 2024.
If you had a FlexAccount, FlexBasic, FlexDirect, you needed to have paid in at least £500 and make two payments out of your account in two of the first three months of the year, or make at least ten payments out of your account. For those with a FlexOne, FlexGraduate, FlexStudent account, you just needed to have made a payment in or out of your account in March 2024.
FlexPlus packaged accounts are also eligible as long as you have paid the account fee. Finally, you needed to have at least £100 in savings or owe at least £100 on a mortgage with Nationwide. If you’re considering moving to Nationwide, you can currently get a switch bonus of £175.
To qualify, you must transfer a minimum of two active direct debits, deposit a minimum of £1,000 and make one debit card payment within 31 days. You also get access to a linked regular saver paying 6.5% variable interest for a year.
You can get the bonus when switching to a FlexPlus, FlexDirect, or a FlexAccount. Even existing Nationwide customers with one of these accounts can bag the extra cash by switching from another non-Nationwide account to the account, provided they adhere to the qualifying rules.
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