Nationwide Reviews Eligibility for £100 Fairer Share Payments
Nationwide Building Society, which operates branches in Birmingham and across the UK, has indicated that it may change the eligibility criteria for its £100 Fairer Share payments. This announcement comes as the mutual society reflects on the future of the scheme, which has provided financial bonuses to eligible members for the past three consecutive years.
Potential Changes to the Fairer Share Scheme
In a recent update published on its official website, Nationwide addressed whether the Fairer Share scheme will return in 2026. The building society stated, "We'd like to make Fairer Share Payments every year, but it depends on how we perform financially." It further clarified that for any future payments, the eligibility criteria and the payment amount could be subject to adjustments. This suggests that members might see modifications in how these bonuses are distributed moving forward.
How the £100 Payments Were Previously Managed
The £100 Fairer Share payment was distributed as a profit share by the Society, treated as interest for UK income tax purposes. While no tax was deducted at source, Nationwide reported the payment to HM Revenue and Customs (HMRC). Members' liability for tax depended on whether their total interest exceeded their Personal Savings Allowance.
Eligible members received the £100 payment into their Nationwide current accounts between 18 June and 4 July 2025. The building society specified that payments were made exclusively into current accounts, with no alternative methods available. To qualify, members needed to have an open Nationwide current account at the time of payment, though it did not necessarily have to be the qualifying account itself.
Eligibility Requirements and Member Notifications
To be eligible for the payment, members were required to hold a qualifying current account along with either qualifying savings or a qualifying mortgage. These criteria had to be met as of the bank's last check on 31 March 2025. The payment appeared on statements as 'Nationwide Fairer Share Payment', and members were notified via text message or the Nationwide app if they had these communication channels set up.
Nationwide emphasised that those without an open current account were not eligible for the bonus. The building society, which competes with major banks such as NatWest, Santander, Lloyds, and HSBC UK, has encouraged members to review the full terms and conditions for detailed information on the Fairer Share scheme.
