ALERTS have started being issued to more than 12million Nationwide customers over free bonus payments.
The building society is issuing £50 each to eligible members after completing the purchase of Virgin Money.
Payments begun being issued yesterday (April 9) and the vast majority will be made by April 30.
The one-off payments, dubbed “The Big Nationwide Thank You”, are separate from Nationwide’s annual “Fairer Share” Payment.
To qualify for the £50 payment, members must have held a savings account, current account, or mortgage as of September 30, 2024, and still have the account open at the time the payment is made.
Members must also have either completed at least one transaction on their current or savings account or maintained a minimum balance of £100 across their accounts or mortgage within the 12 months preceding September 30, 2024.
You are also eligible if you completed a switch to any Nationwide current account between July 1, 2024 and September 20, 2024, using the Current Account Switch Service (CASS).
Members can check if they qualify for the payment by visiting nationwide.co.uk/about-us/the-big-nationwide-thank-you/check.
Alerts for those who have been issued the £50 payments have started being sent via text message and online and mobile banking.
The text message reads: “Good news – we’re pleased to let you know that £50 has been paid into your account.”
Meanwhile, payments that have been made are showing up in mobile banking as “The Big Nationwide Thank You” followed by the £50 figure.
While the majority of the £50 payments will be made by April 30, anyone being paid by cheque will receive theirs later.
Nationwide said cheques will be sent by May 14 and once received must be paid in by January 1, 2026.
Is another Fairer Share payment coming?
The new £50 payment is different to Nationwide’s “Fairer Share” payment which has been issued twice since 2023.
Each year the payment has been worth £100.
The building society has expressed that it wants to issue another of the payments this year depending on its financial performance.
It has exclusively revealed to The Sun that customers will find out on May 29 whether the payment will be issued this year or not.
However, Nationwide’s boss Debbie Cross said in December it was “well positioned” to issue the payments.
Of course, eligibility criteria for this year’s payment may be different to previous years.
But, assuming the eligibility criteria remains the same as in 2024, you’ll need to do two things. You must have:
A qualifying current account and qualifying savings Or a qualifying current account and a qualifying mortgage.You will also need to have used your current account between January and March.
For what the full eligibility criteria could be this year, you can read our article.
In other Nationwide news, the building society axed passbooks for hundreds of thousands of customers in February.
If you had a passbook, you can now instead get a savings wallet which can be used in your local Nationwide branch.
You can find out more about the saving wallets via www.nationwide.co.uk/savings/passbook-accounts.
Meanwhile, you can find your nearest Nationwide branch by visiting www.nationwide.co.uk/branches/search.
History of Nationwide
NATIONWIDE Building Society, the UK's largest building society, boasts a rich history stretching back to 1846.
Starting as the Provident Union Building Society in Ramsbury, Wiltshire, its initial aim was simple: to help people save and buy their own homes.
Over the years, Nationwide grew through a series of mergers with approximately 250 smaller building societies.
This steady expansion led to significant milestones, such as the first savings boxes offered by a UK financial institution in 1904 and the opening of its first official branch in Birmingham in 1925.
In 1970, reflecting its national reach, the society officially adopted the name “Nationwide”.
Two key mergers shaped the modern Nationwide.
The first, with Anglia Building Society in 1987, significantly increased its size and presence.
The second, with Portman Building Society in 2007, solidified its position as a major force in the UK financial market, bringing together around 13 million members and over £160billion in assets.
More recently, in 2024, Nationwide acquired Virgin Money, further expanding its customer base and reach
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
Read More Details
Finally We wish PressBee provided you with enough information of ( Alert issued to 12million customers over ‘big Nationwide thank you’ payments )
Also on site :
- I’m the Boston Celtics legend who has a perfect 6-0 record vs Michael Jordan in the playoffs and was the one NBA star that MJ couldn’t beat
- Celebrity Big Brother star reveals she’s engaged after very romantic proposal in the Maldives
- Phil Maton tells The Post he’s out for revenge against 29 teams —including Mets — for free agency snub: ‘It’s personal’