Many existing Nationwide customers have received a £100 summer bonus over the past two years as part of the building society’s Fairer Share Payment scheme. While there is no official confirmation yet for 2025, reports suggest that Nationwide could offer the payment again this year. Customers may receive an update around May, as previous announcements were made at that time.
What Is the Fairer Share Payment Scheme?
Nationwide launched the Fairer Share Payment scheme to reward eligible customers with a £100 bonus. The scheme was first announced on May 19, 2023, and continued in 2024, distributing £385 million among 3.85 million members last June. However, strict eligibility criteria meant that 12 million customers missed out on the payment last year, according to Birmingham Live.
Will Nationwide Offer the £100 Payment in 2025?
Although there is no confirmation yet, reports indicate that Nationwide may announce the scheme in May 2025. If it follows last year’s timeline, eligible customers could receive their payments in June. However, to improve their chances of qualifying, members should keep their accounts active and meet the expected eligibility criteria.
How to Qualify for the Payment?
Experts from Martin Lewis’ Money Saving Expert (MSE) recommend that customers hoping to qualify keep their current accounts open until at least March 31, 2025. Based on last year’s criteria, MSE advises members to be active in the first three months of the year.
Eligibility Criteria Based on Account Type
Different accounts have specific eligibility requirements. Here’s what customers needed to do last year to qualify:
For Flex Account, Flex Basic, or FlexDirect Users:
- Deposit at least £500 into the account.
- Make two outgoing payments in two of the three months (January, February, or March) or make 10 payments in two of those months.
For FlexOne, FlexStudent, and FlexGraduate Users:
- Have both incoming and outgoing payments in March.
Additional Savings Requirement:
- Last year, customers were also required to have at least £100 in savings or cash ISAs at the end of March to be eligible.
Nationwide’s Financial Growth and New Customer Offer
Nationwide’s strong financial position suggests they could continue rewarding customers. Last November, the building society acquired Virgin Money, gaining £2.3 billion in the process.
For those not currently banking with Nationwide, the building society is offering a £175 bonus to new customers who switch to a FlexPlus, FlexDirect, or FlexAccount.
How to Qualify for the £175 Switching Bonus:
- Switch a non-Nationwide account with at least two active Direct Debits.
- Complete the switch online and close the old account (Nationwide can handle this if selected).
- The switch must be completed within 28 days.
Additional Requirements:
- Within 31 days of requesting the switch, customers must:
- Deposit at least £1,000 into the account (excluding transfers from other Nationwide accounts).
- Make at least one debit card payment (certain transactions, like gambling, do not count).
Nationwide’s Fairer Share Payment has been a welcome bonus for many customers over the past two years. While no official confirmation has been given for 2025, reports suggest it may return in June, with an announcement expected around May. To improve their chances of qualifying, customers should keep their accounts active and meet the expected eligibility criteria. Meanwhile, new customers can benefit from Nationwide’s £175 switch offer by fulfilling specific conditions.
With Nationwide’s financial growth and commitment to rewarding customers, it will be interesting to see if they continue their bonus payouts this year.
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