Nationwide Set to Distribute ‘Fairer Share’ Bonuses to Members Next Month
Nationwide, the world’s largest building society, is expected to reward certain customers with the next instalment of its “Fairer Share” bonus next month. Members who meet specific criteria are likely to see the cash land in their accounts, according to experts at Money Saving Expert (MSE).
The building society has yet to confirm the bonuses for 2025, but it expressed hope earlier this year that it would be able to make payments. An announcement is expected to be made this month, and in previous years, the payments have been made in June.
According to Nationwide, the “Fairer Share Payment is our way of rewarding those members who choose us for their everyday banking as well as having savings or a mortgage with us.” In 2024, Nationwide said it would be “sharing our profits with nearly 4 million of our members”. To be eligible, members needed a qualifying current account plus either qualifying savings or a qualifying mortgage, and they would have needed to meet this criteria when Nationwide last checked on 31 March 2024.
Payments were made between June 13 and June 28. MSE advised those keen to receive a bonus this year to keep their accounts open until at least March 31, and to make sure they were actively used during the first quarter of 2025. The requirements to qualify differ depending on the account type.
For those holding FlexAccount, FlexBasic, or FlexDirect accounts, eligibility is achieved by either depositing a minimum of £500 within two of the first three months of the year and making two account payments, or making ten or more payments over that same time frame. According to the MSE piece, the second criteria was used only in 2024, and not in 2023.
MSE further explained that for those with a FlexPlus packaged account, just paying the fee counts. For those with a FlexOne, FlexGraduate, FlexStudent account, making a payment in or out of the account in March 2025 is sufficient. Payments can include debit card transactions, Direct Debits, bank transfers, and standing orders (but not transfers to other Nationwide accounts). People must also have a minimum savings balance of £100, or owe a minimum of £100 on a Nationwide mortgage by March 2025.
However, MSE stressed that this is all based solely on past criteria, and therefore there are “no guarantees”. As the building society has yet to confirm this year’s bonuses, customers can only wait and see if they will receive a payment.
The news was initially reported by the Bristol Post. A spokesperson for Nationwide told customers to keep an eye on their accounts and the company’s website for updates on the bonuses.
Nationwide’s Fairer Share bonus is a reward for loyal customers who use the building society’s services. The bonus is a way for Nationwide to share its profits with its members.
For those who are unsure about their eligibility, it is recommended that they check Nationwide’s website or contact the building society directly.
The Fairer Share bonus is just one way that Nationwide rewards its customers. The building society offers a range of services, including current accounts, savings accounts, and mortgages.
Customers who are interested in learning more about the Fairer Share bonus or Nationwide’s services can visit the company’s website or visit a local branch.
The information provided is based on reporting from the Bristol Post.
Source link
