Nationwide Building Society has confirmed that four million of its customers are set to receive a £100 Fairer Share payment directly into their bank accounts in the coming days. This marks the fourth consecutive year that the building society, which operates branches in Birmingham, has provided this free cash boost to eligible members.
Eligibility Criteria
To qualify for the Nationwide Fairer Share payment, members must have held a qualifying current account along with either qualifying savings or a qualifying mortgage. These conditions needed to be met as of 31 March this year. Eligible customers will be notified by email or letter by 30 May. Those who have not yet heard from Nationwide can check their eligibility by logging into online banking or using the eligibility checker tool.
Virgin Money Customers
Regarding the eligibility of Virgin Money customers following the takeover, Nationwide stated: "If you've become a member of Nationwide as a result of the transfer, you could be eligible for a Fairer Share payment in 2027 which will include qualifying Virgin Money accounts." The society added that while it aims to make the payment annually, this depends on financial performance. The amount and eligibility criteria may change in the future, as detailed on their terms and conditions page.
Nationwide also noted: "If you think you're eligible but don't have access to online banking, you can use our tool. We're only able to give you an idea based on the information you've given us."
Payment Details
Over 4 million members will receive the £100 payment, with more than £400 million being returned to eligible members this year. To confirm if you have been contacted, check the Nationwide app or internet bank, where the notification should appear upon logging in.
