Nationwide customers across the country are set to discover this week whether they will receive an additional £100 Fairer Share bonus. The building society has been distributing £100 bonus payments to its customers for the past three years. The decision on this year’s payment is anticipated to be disclosed on Thursday, May 21, coinciding with the release of Nationwide’s latest full-year financial results.
Furthermore, Nationwide will specify the eligibility criteria for the one-off bonus in the upcoming announcement. In previous years, qualifying for the bonus required having a qualifying current account along with either a savings account or mortgage with Nationwide.
For last year’s bonus distribution, specific conditions applied based on the type of account held. FlexOne, FlexStudent, or FlexGraduate account holders needed to have had at least one payment in or out of their account during March, except for those who switched using the Current Account Switch Service. FlexAccount, FlexDirect, or FlexBasic account holders had to receive £500 in their account for two of the three months between January and March, in addition to making at least two payments out of their account during two of those months.
Moreover, customers could also qualify by making at least ten payments out of their current account during two of the three months. FlexPlus customers were required to pay the monthly fee to be eligible for the £100 bonus. Savings account holders needed to have a minimum of £100 saved, while mortgage customers needed to have at least £100 remaining to pay off by the end of March.
It is important to note that the eligibility conditions may vary from previous years. If the Fairer Share bonus is confirmed and customers meet the criteria, the bonus will be automatically credited to their Nationwide account. Last year, Nationwide disbursed £400 million to over four million customers following a record profit before tax of £2.3 billion. In the preceding year, £385 million was awarded to 3.85 million individuals.
Nationwide customers are advised to watch for the official announcement regarding the bonus payment and eligibility requirements.