In a welcome move during the ongoing cost of living pressures, Nationwide Building Society is distributing free £200 payments to thousands of its members this month. The surprise cash boost comes as part of the mutual's £340 million 'Fairer Share' loyalty scheme, designed to reward members who maintain specific accounts with the society.
Who Qualifies for the Windfall?
The £200 payment isn't available to all Nationwide customers. To be eligible, members must have held both a Nationwide current account and either a savings account or mortgage with the society since March 31, 2024. This targeted approach ensures the financial support reaches those most committed to the building society.
No Application Needed
Eligible members don't need to lift a finger to receive their payment. Nationwide is automatically depositing the funds directly into qualifying current accounts throughout June 2024. The society has confirmed that all payments should reach members' accounts by Friday, June 28th.
A Growing Tradition of Member Rewards
This marks the second year running that Nationwide has shared its profits directly with members. Last year, approximately 3.4 million members received similar £100 payments through the same scheme. The increased amount this year reflects the building society's ongoing commitment to supporting its members during challenging economic times.
What Members Are Saying
The unexpected payments have generated significant positive feedback from recipients, with many taking to social media to express their gratitude. The timing proves particularly helpful as households continue to navigate increased living costs, with the money offering welcome relief for everything from grocery bills to energy costs.
As a mutual organisation owned by its members rather than shareholders, Nationwide continues to demonstrate how this structure can directly benefit customers through tangible financial rewards during periods of economic uncertainty.
