**Nationwide Begins £100 ‘Fairer Share’ Payout to Millions — But Not Everyone Qualifies**
Millions of Nationwide Building Society members are set to receive a welcome financial boost this summer, as the organisation commences the distribution of its eagerly awaited ‘Fairer Share’ payment. The payout, worth £100 per eligible customer, officially begins from Tuesday 18 June, with money set to reach bank accounts over the coming weeks. However, Nationwide has cautioned that not all account holders will qualify for the bonus, and some may miss out depending on their circumstances.
The distribution period runs until 4 July, and marks the third year that the mutual has made this type of member reward. The scheme is designed to share profits with its customers in the wake of what Nationwide describes as a “record-breaking year.” The building society announced a pre-tax profit of £2.3 billion in its most recent annual results, underpinning its ability to return value directly to members.
To make sure the payment process is smooth and avoids any scams, Nationwide has directly contacted those set to receive the money via email or traditional mail. For these customers, no action is needed: the £100 will be deposited automatically into their current account. Nevertheless, the strict eligibility rules mean that not every existing Nationwide customer will benefit from the scheme.
To qualify, individuals needed to have held a current account with Nationwide on or before 31 March 2025. In addition, customers must meet an extra requirement — they should hold, alongside their current account, either a savings account or a mortgage with Nationwide. The criteria for these secondary products include having at least £100 saved in a Nationwide account as of any day in March 2025, or for mortgage holders, maintaining at least a £100 outstanding balance as of 31 March.
Additional rules are in place specific to the type of current account held. For younger customers or students — those with FlexOne, FlexStudent or FlexGraduate accounts — qualifying activity involves making or receiving at least one payment in or out during March 2025. However, customers who switched to Nationwide during the period 1 January to 31 March, using the Current Account Switch Service, do not meet the eligibility for this round.
For holders of FlexAccount, FlexDirect or FlexBasic accounts, the conditions are slightly different. The requirement is to have received no less than £500 into the account (excluding internal transfers from other Nationwide accounts) and made a minimum required number of outgoing payments in two of the three qualifying months — January, February, or March 2025. As with student accounts, recent switchers do not qualify.
Meanwhile, customers with a FlexPlus account simply need to ensure that they are up-to-date in paying the monthly account fee to be eligible for the payment.
With an estimated four million members in line for the windfall, Nationwide will pay out approximately £400 million in total during this initiative. The building society has highlighted this member reward as an example of the benefits of belonging to a mutual rather than a shareholder-owned bank.
Chief Executive Debbie Crosbie commented on the payout, saying: “Nationwide has enjoyed a remarkable twelve months. We have been able to return a record £2.8 billion in value to our members, and achieved an unprecedented year for growth in both mortgage lending and savings balances. This Fairer Share payment reflects our commitment to rewarding loyalty and delivering leading customer service.”
This is not the first time that Nationwide has provided members with a direct financial benefit this year. Earlier, the mutual handed out a £50 ‘thank you’ bonus to customers, following the acquisition of Virgin Money — an indication of its robust financial health and member-focused ethos.
For those who think they may have missed out, checking eligibility requirements and seeking further guidance from Nationwide’s customer service channels is advised. As always, experts caution to check all communications are authentic before taking any action to avoid potential fraud.
Overall, while many customers will be more than pleased with this unexpected boost to their finances, Nationwide’s move also serves as a reminder to review the terms and conditions of your current financial products — and to make sure you’re making the most of what is on offer from your provider.