The payments have been paid directly into almost 3.9million eligible customer accounts, for those who have a qualifying current account, plus a mortgage or savings account with Nationwide
Today is the final day Nationwide Building Society customers will get paid their £100 bonus from the Fairer Share Scheme.
Last month, the high street building society announced that it was bringing back its Fairer Share Scheme for another year. Around 3.85million banking customers are receiving a share of £385million – this equates to a payment of £100 each. To be eligible, you need a qualifying current account plus either qualifying savings or a qualifying mortgage with Nationwide on March 31.
You must have paid at least £500 into a Nationwide current account for two of the first three months of the year and made two payments out. You also need to have held £100 in a Nationwide savings account or have owed at least £100 on a mortgage at the end of March. Nationwide said it would be contacting eligible customers by May 31 and would be paying the cash between June 13 and June 28 2024 – this means the final date you could get your fairer share payment is today.
If eligible, Nationwide would pay the £100 bonus straight into your bank account. If you have multiple qualifying accounts, then the bonus could be paid into any of them. The building society said it would not make the payment in any other way and if you do not have an open Nationwide current account when it tries to make the payment, you will not be eligible to receive it.
The payment will show up as “Nationwide Fairer Share Payment” on your bank statement. If you believe you are eligible for the payment and have not received it today, first you should double check the criteria on Nationwide’s website here, and then you should contact Nationwide.
The Fairer Share scheme has been criticised as the majority of Nationwide members are not actually eligible for it. This year just 24% of its 16million member base will receive any cash. This is down to the scheme’s eligibility criteria. James Daley from the consumer group Fairer Finance said: “This annoyed people last year, and they’re doing it again when it’s only a small percentage of people who will get it. There are lots of long-term customers who are going to be upset by this, they are losing the PR battle.”
