Free £100 for Nationwide Customers

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Newsflash: millions of Nationwide customers could be seeing a £100 payment into their account soon!

As part of its announcement for three new benefits for members, it will pay the second Fairer Share Payment of £100 to eligible customers (at a whopping total of £385million). You don’t have to do anything to claim, it will be paid directly into your account.

To be eligible, you must have two things:

Held a current account and in two of the three months Jan-March 2024 have received at least £500 into your account (interest and transfers from your other Nationwide accounts don’t qualify), and made two payments out of that account in the same period, AND

Have either a savings account with minimum £100 balance on any day in March 2024, OR

A mortgage product with a minimum of £100 still owed by 31st March 2024.

You must still have your current account open in June 2024. The payment will be made in June. Joint accounts are eligible if they meet other qualifying criteria. FlexOne, FlexStudent, and FlexGraduate accounts must have received at least one payment in or one payment out in March 2024 (unless you switched to one of these accounts using the Current Account Switch service between 1st January and 31st March 2024).

The quickest way to check if you’re going to receive £100 is to log in to the mobile app. A message will show when you log in to confirm you’ll receive the Fairer Share Payment.

More Benefits for Nationwide Customers

Two other benefits are of interest to existing customers.

The first is the launch of the Member Exclusive Bond, which offers a very competitive 5.5% gross for 18 months and that’s available to ALL existing 16 million customers at Nationwide. The maximum investment is £10,000, which means an extra £193 in interest at the end of the fixed 18-month term. The bond can be opened in branch or via the app or online.

The second benefit is a whopping £200 switch bonus for Nationwide customers who already have a current account with them but don’t use it for their everyday banking. A minimum of two Direct Debits must be switched to the account using the Current Account Switch service online or via the app.

If you’ve missed out on eligibility criteria this year, Nationwide intends to make the Fairer Share payment every year as long as it does not put the building society into financial detriment. So, it could be worth opening an account now to be eligible for future benefits!