Nationwide is alerting millions of its customers
Nationwide is sending alerts to millions of its members who may want to check their accounts before the end of next month.
The world’s largest building society confirmed earlier today, Thursday, that it is continuing its Fairer Share payment scheme for a fourth year running. Approximately 4.4million members will see a free £100 deposited into their accounts in June, Nationwide said. Whether or not you receive the cash will depend on if you met all of the eligibility criteria or not.
Nationwide said the latest Fairer Share payment, totalling around £440m, will be paid from June 10 to eligible members who use Nationwide for their everyday banking, alongside holding a qualifying savings account or mortgage. And in separate alerts sent directly to members within the app, the mutual said: “Happy Fairer Share Day.
“We’re giving you a £100 Fairer Share Payment. It will be in your account by June 30. T&Cs apply.” To be eligible you needed to have held a qualifying current account with Nationwide on March 31 of this year, and have held £100 or more in a qualifying savings account – or owed at least £100 on a qualifying mortgage.
The payment is treated as interest for UK income tax purposes. Nationwide added: “We are not required to deduct any tax from the payment, but we will report it to HM Revenue & Customs (HMRC).”
If you don’t want to receive the payment, you can opt out but you’ll need to let Nationwide know by June 8. You can do this by calling 0330 123 9734 Monday to Friday, 9am-5pm, or Saturday 9am-2pm. Alternatively you can let branch staff know.
