Today is the final day Nationwide Building Society are giving out £100 bonuses to their most loyal members.
Eligible customers started to receive payments from June 13, with the last transfers being made today, June 28.
The free £100 payment is part of the Building Society’s Fairer Share Payment scheme which rewards those members who bank with them.
Eligible customers will have a qualifying current account, with a mortgage or savings account with Nationwide.
The current account must have been opened on or before March 31, 2024.
Nationwide stated those who qualified should have been contacted by May 31.
Customers must also have paid at least £500 into a Nationwide current account for two of the first three months of the year and made two payments out.
They also need to have held £100 in a Nationwide savings account or have owed at least £100 on a mortgage at the end of March.
The following current accounts will qualify you for the payment:
- FlexPlus
- FlexOne
- FlexStudent
- FlexGraduate
- FlexAccount
- FlexDirect
- FlexBasic
If eligible, Nationwide would pay the £100 bonus straight into one’s bank account.
The payment will show up as “Nationwide Fairer Share Payment” on their bank statement.
The Fairer Share scheme has seen some kickback from many Nationwide customers who are not eligible. Nationwide has over 17 million customers which means over 13 million won’t qualify.
James Daley from the consumer group Fairer Finance said: “This annoyed people last year, and they’re doing it again when it’s only a small percentage of people who will get it. There are lots of long-term customers who are going to be upset by this, they are losing the PR battle.”
Those who do not use Nationwide for their everyday banking (as at 31 March) can still secure an extra £200 if they switch to one of their current accounts.
Nationwide is offering a £200 Member Exclusive Current Account Online Switch Offer for existing members.
How to get £200 boost:
- Be an existing qualifying member as of March 31, 2024
- Switch a non-Nationwide bank account with at least two active Direct Debits to us
- Switch to us online
- Close your non-Nationwide bank account when you switch. Make sure you select ‘Yes’ when asked ‘Do you want us to close your old account?’
- Ask to complete your switch within 28 days
Customers can get the free cash by switching to a FlexPlus, FlexDirect or FlexAccount.
A qualifying member is someone who either they or the person they have a joint non-Nationwide bank account with had a Nationwide current account, personal savings account or residential mortgage on March 31, 2024.
