Nationwide to pay £100 ‘Fairer Share’ bonus to millions of customers again – here’s who will get the payment and when

Nationwide Building Society has once again demonstrated its commitment to its customers by announcing a £100 “Fairer Share” bonus for millions of its members. This move marks a continuation of Nationwide’s ethos of prioritizing its customers’ financial well-being, especially during challenging times. The bonus not only reflects Nationwide’s financial success but also serves as a tangible acknowledgment of the mutual relationship it shares with its members. In a landscape where customer loyalty is often overlooked, Nationwide’s initiative stands as a testament to its dedication to providing value and support to its community.

Bank Building Society has announced that it will be issuing its ‘Fairer Share’ bonus for the second consecutive year, distributing £100 to millions of its members. This initiative underscores Nationwide’s commitment to sharing its financial success with its loyal customers. Here’s everything you need to know about who qualifies for this payment and when it will be distributed.

Who Will Receive the £100 Bonus?

To be eligible for the ‘Fairer Share’ bonus, Nationwide members must meet specific criteria. The bonus is targeted at rewarding those who actively use Nationwide’s services. Here’s a breakdown of the eligibility requirements:

1. Membership Status: Only members of Nationwide will receive the bonus. This includes individuals who hold qualifying products such as current accounts, savings accounts, or mortgages with Nationwide.
2. Account Activity: Members must have maintained an active account with Nationwide over a specified period. Typically, this means having a current account with regular deposits or holding a savings account with a certain minimum balance.
3. Account Holding Period: Members must have held their account for a continuous period before the bonus distribution date. Last year, for example, the requirement was to have been a member for at least one year.

When Will the Payment Be Made?

Nationwide has outlined a clear timeline for the distribution of the ‘Fairer Share’ bonus:

1. Announcement Date: The bonus was announced in May 2024, signaling Nationwide’s continued commitment to its members.
2. Payment Date: Eligible members can expect to see the £100 bonus credited to their accounts in June 2024. The exact date of the payment will be communicated closer to the time, but members should check their accounts around mid to late June.

Why Is Nationwide “Fairer Share” Offering This Bonus?

The ‘Fairer Share’ bonus is part of Nationwide’s broader strategy to give back to its members, reflecting its mutual status. As a building society, Nationwide is owned by its members, not shareholders. This allows it to prioritize customer benefits over shareholder profits.

Chief Executive Debbie Crosbie emphasized the importance of this initiative, stating, “Our members are at the heart of everything we do. The ‘Fairer Share’ bonus is our way of thanking them for their loyalty and ensuring they benefit directly from our financial performance.”

How to Check Eligibility

Members unsure of their eligibility for the bonus can check through the following means:

1. Online Banking: Log into your account and check the announcements or messages section.
2. Mobile App: The Nationwide mobile app will provide notifications regarding eligibility and bonus payments.
3. Customer Service: Contact Nationwide’s customer service for personalized assistance.

Conclusion

Nationwide’s decision to issue the ‘Fairer Share’ bonus for the second year running highlights its dedication to rewarding member loyalty. By distributing £100 to millions of its customers, Nationwide is not only sharing its financial success but also strengthening its bond with its members. Eligible members should keep an eye on their accounts in June 2024 for this welcome boost. This initiative sets Nationwide apart in the financial services sector, reinforcing its reputation as a customer-centric organization.

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FAQ’S

Q: Who is eligible for the £100 “Fairer Share” bonus?

Ans: A bank bonus is available to all members who hold a current account, mortgage, or savings account with the building society as of a specified date.

Q: When will the bonus be paid out?

Ans: The payment schedule varies, but eligible customers can anticipate receiving their bonus in the coming weeks. Nationwide aims to ensure that all qualifying members receive their bonus promptly.

Q: Are there any conditions attached to receiving the bonus?

Ans: Nationwide’s “Fairer Share” bonus is a gesture of appreciation for its members and does not require any specific actions or commitments. The bonus is intended to provide additional support and value to Nationwide’s loyal customers.