Nationwide to Pay £100 Cash to Millions in June - Check if you Qualify?
If you're a Nationwide customer, you might be eligible for a free £100 deposited into your account over the coming weeks as part of their returning 'Fairer Share' scheme (check if you qualify at the bottom of this article!). This bonus will be distributed to millions of current account holders who also have savings or a mortgage with Nationwide.
A total of £385 million will be shared among 3.85 million customers, following Nationwide's announcement of a £2 billion profit in the last tax year. This marks the second time Nationwide has offered this payment, having distributed £340 million to 3.4 million customers last year.
Eligibility for the £100 Nationwide Payment:
Current Account Requirements:
You must have a Nationwide current account that was open as of 31 March 2024.
Usage Criteria:
For FlexAccount, FlexBasic, or FlexDirect: In two of the three months of January, February, and March 2024, you must have either received at least £500 (excluding internal transfers) and made at least two payments, or made at least 10 payments.
For FlexPlus: You must have paid and continue to pay the monthly account fee.
For FlexOne, FlexStudent, or FlexGraduate: You must have received at least one payment in or made one payment out in March 2024.
Savings or Mortgage Requirements:
Savings: Held at least £100 across Nationwide personal savings accounts or cash ISAs at any time in March 2024.
Mortgage: Owed at least £100 on a Nationwide residential mortgage as of 31 March 2024.
If you meet these criteria, Nationwide will notify you by letter or email by Friday 31 May. The £100 will be automatically deposited into your Nationwide current account between Thursday 13 June and Friday 28 June and will appear on your statement as 'Nationwide Fairer Share Payment'.
Important Notes:
Keep your current account open to receive the payment.
Beware of scams asking you to claim or apply for the payment.
The £100 is considered taxable savings income, but most people won't owe tax on it due to the personal savings allowance.
Additional Nationwide Offers:
£200 Switching Bonus: Switch your current account from another provider to Nationwide and get £200. Requirements include having savings or a mortgage with Nationwide as of 31 March 2024 and completing a full switch using the Current Account Switch Service, transferring at least two Direct Debits.
5.5% Fixed-Rate Savings: Available to customers who had a Nationwide account on 22 May 2024, offering 5.5% interest on up to £10,000 for 18 months.
For full terms and conditions and to check your eligibility, use the live chat function and press the 'fairer share' button then request a to see if you qualify (this is done instantly!).
