**Nationwide Announces £100 Bonus for Millions, But Many May Miss Out**
Nationwide Building Society has revealed plans to distribute an additional £400 million in bonuses to its members, following impressive financial results and a continued commitment to rewarding customer loyalty. Under the scheme known as Fairer Share, four million customers are set to receive a £100 bonus directly into their Nationwide current accounts later this summer.
The substantial payout comes as Nationwide seeks to share some of its record-breaking profit with customers. The payments will be made automatically between 18 June and 4 July 2025, requiring no action from qualifying members. However, not all customers will take home the bonus, as eligibility depends on holding both a qualifying current account with the building society, as well as either a Nationwide savings account or mortgage.
To be considered for the payout, current accounts must have been opened by 31 March 2025. For those with a savings account, a minimum balance of £100 must have been present at the end of at least one day in March 2025. Mortgage holders need to have had at least £100 outstanding on their loan as of the same date. Nationwide has stated it will communicate eligibility to customers by email or post by 30 May 2025.
This announcement follows Nationwide’s acquisition of Virgin Money and comes on the back of its latest annual financial report. The mutual recorded pre-tax profits of £2.3 billion for the year ending 31 March 2025, a sizeable leap from £1.8 billion the previous year. The group pointed to prioritising competitive interest rates as a factor in its strong underlying performance.
In addition to the upcoming £100 bonus, Nationwide has recently paid its members a record £2.8 billion in rewards, which included a separate £50 thank you payment earlier in 2025. The Fairer Share initiative itself is not new; last year saw £385 million handed out to 3.85 million customers, and another £340 million shared amongst 3.4 million members in 2023. With this third round, Nationwide is solidifying its approach to regular profit-sharing.
Debbie Crosbie, Nationwide’s Chief Executive, commented on the society’s success, highlighting the “outstanding twelve months” enjoyed by the business. She noted that alongside returning £2.8 billion in value to members, Nationwide achieved its highest ever growth in both mortgage lending and retail deposits, all whilst maintaining top customer service rankings.
The society has provided detailed criteria on what qualifies as an eligible current account. Holders of FlexOne, FlexStudent and FlexGraduate accounts must have made at least one transaction into or out of their account during March 2025, with some exclusions for those transferring accounts during the first quarter of the year. Other current accounts, such as FlexAccount and FlexDirect, require customers to have deposited at least £500 in two out of the first three months of the year and fulfilled payments from the account, or to have made a minimum of ten outbound payments. FlexPlus account holders must ensure the monthly fee has been paid.
Nationwide’s ongoing commitment to mutuality, where profits are shared with customers rather than external shareholders, sets it apart from traditional high street banks. While its headline bonuses grab attention, the detailed qualifications for receiving them mean some members will inevitably miss out, particularly those who have not maintained active current or savings account usage.
Financial experts have noted that such reward schemes may become more prominent as banks and building societies face competition and seek to reinforce customer loyalty. However, the restrictions also underline the importance of reading the fine print and understanding one’s banking habits to maximise benefits.
Nationwide’s initiative places it at the forefront of customer reward programmes among financial mutuals, and with its recent growth, many in the industry will be watching to see if rivals follow suit with similar offers. Members are encouraged to check their eligibility status carefully, as missing out on qualifying criteria could mean missing out on the £100 windfall.