Nationwide set to give £100 bonuses as members urged to act quickly

Nationwide set to give £100 bonuses as members urged to act quickly Newspoint | 02/03/2025 03:39:13

Nationwide, the UK's largest building society, has been known to distribute a "fairer share" bonus to millions of its customers in recent years. And those hoping to receive this cash boost in 2025 are being urged to act swiftly.

A recent Money Saving Expert (MSE) article outlines how people can maximise their chances of receiving the payment. The email suggests that Nationwide is likely to distribute these bonuses again in 2025, although it's not guaranteed.

According to MSE, the scheme is typically announced in May and paid out in June. When the scheme was launched in 2024, Nationwide stated it was "sharing our profits with nearly 4 million of our members", adding that the Fairer Share Payment rewards members who use Nationwide for everyday banking as well as savings or mortgages.

To qualify, members needed a current account plus either qualifying savings or a mortgage, and they had to meet this criteria by 31 March 2024. Most payments were then received between 13 and 28 June last year.

To increase your chances of receiving the cash this year, MSE advises keeping your account open until at least 31 March and using your current account within the first three months of this year

Eligibility differs depending on the type of account you have, so for those with a FlexAccount, FlexBasic, FlexDirect you need to pay in at least £500 in two of the first three months of 2025 and make two payments out of your account, or you'll need to make 10 or more payments out of your account over this same time period. MSE explains that the second method was used as criteria in 2024 but not in 2023.

MSE adds: "For those with a FlexPlus packaged account: Just paying the fee counts. For those with a FlexOne, FlexGraduate, FlexStudent account: Make a payment IN or OUT of your account in March 2025. Payments can include debit card transactions, Direct Debits, bank transfers and standing orders (but not transfers to other Nationwide accounts you have)."

As well as the above steps, you'll also need to have at least £100 in savings, or owe at least £100 on a mortgage with Nationwide, in March 2025, MSE said. However this is all just based on previous criteria and there are "no guarantees".