Millions of Nationwide customers are poised to receive a £100 bonus this week through the building society's Fairer Share scheme. Since launching in 2023, Nationwide will have distributed approximately £1.5 billion to members via Fairer Share, which the Society says demonstrates its dedication to sharing the rewards of financial success with members. While Nationwide strives to distribute Fairer Share annually, it is not guaranteed and remains subject to board approval.
Eligibility for the £100 Payment
As reported by the Daily Record, the most recent Fairer Share payment, totalling approximately £440 million and benefiting around 4.4 million eligible Nationwide members, will be distributed from Wednesday, June 10. Individuals can review the complete terms and conditions on Nationwide's website to determine their eligibility.
Generally speaking, to satisfy the criteria for the new payment, individuals must be a Nationwide member with a qualifying current account, alongside either qualifying savings or a qualifying mortgage. The criteria must have been satisfied by March 31 2026. A current account held with Clydesdale, including a Virgin Money current account, will not constitute a qualifying current account.
Qualifying Savings and Mortgages
Members may have held qualifying savings if they maintained at least £100 in total across one or more personal savings accounts or cash ISAs with Nationwide at the close of any day in March 2026. Regarding qualifying mortgages, individuals must have owed Nationwide a minimum of £100 on their Nationwide residential mortgage on March 31, 2026.
Virgin Money customers may have missed out on this occasion, but those who have become Nationwide members as a result of the transfer could qualify for a Fairer Share payment in 2027, which will encompass eligible Virgin Money accounts. Nationwide stated that while it would like to make the payment annually, this will be dependent on its financial performance.
Additional Benefits for Customers
Nationwide also announced a new 5% "member exclusive" bond, alongside a £175 current account switching incentive for those transferring their current account to Nationwide. The bond offers a 5% AER (annual equivalent rate) over 15 months on balances of up to £10,000.
Nationwide chief executive Debbie Crosbie said: "More people than ever are choosing Nationwide. Our growth in mortgages, retail deposits and personal current accounts is leading the market, which means we can again make a Fairer Share payment to eligible members, and offer a new Member Exclusive Bond to all members." Nationwide revealed that more than one million current accounts were opened over the past year, with particularly strong growth in student banking and branch switching.
