MILLIONS of customers at a major building society are set for a £100 cash boost.
Around 3.4million Nationwide customers will be entitled to a share of the cash pot.
AlamyNationwide customers are in for a cash boost.[/caption]This is part of Nationwide’s Fairer Share programme, which set out to reward customers who bank with the lender or meet certain lending criteria.
This is the third consecutive row the lender has handed out the cash.
Last year, it paid out a total of £385million to 3.85million customers and the year before £340million to 3.4million people.
Back in December, the building society’s boss confirmed it would make the payment for a third time.
It’s worth noting, the £100 Fairer Share payment is separate to the £50 issued to around 12million Nationwide customers between April 9 and May 14.
WHO GETS THIS PAYMENT?
You must have had a Nationwide account open by the end of March 2025 to get the money.
You would have needed to have £100 in savings or owe £100 on your mortgage by that date.
You also will need to have used your account within the first three months of this year.
Savers had a chance to put money in their accounts before this date to give themselves a chance to get their hands on the cash.
WHAT IF I AM NOT A NATIONWIDE CUSTOMER
If you are not a Nationwide customer then you unfortunately will not get the cash.
But you can open up an account with the lender to ensure you do not miss out on further offers.
And Nationwide is not the only bank giving customers free cash.
TSB is giving new customers who switch to the high street bank a £100 switching incentive.
You get the £100 upfront but if you spend on you debit card for 20 times in the first six months you get a £15 a month cash back.
How do I switch bank accounts?
SWITCHING bank accounts is a simple process and can usually be done through the Current Account Switch Service (CASS).
Dozens of high street banks and building societies are signed up – there’s a full list on CASS’ website.
Under the switching service, swapping banks should take seven working days.
You don’t have to remember to move direct debits across when moving, as this is done for you.
All you have to do is apply for the new account you want, and the new bank will tell your existing one you’re moving.
There are a few things you can do before switching though, including choosing your switch date and transferring any old bank statements to your new account.
You should get in touch with your existing bank for any old statements.
When switching current accounts, consider what other perks might come with joining a specific bank or building society.
Some banks offer 0% overdrafts up to a certain limit, and others might offer better rates on savings accounts.
And some banks offer free travel or mobile phone insurance with their current accounts – but these accounts might come with a monthly fee.
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