Nationwide said the payment is to say ‘thank you’ to its members for helping it achieve a good financial performance, which it said helped it complete its takeover of Virgin Money
Nationwide is to pay out over £600million to over 12 million of its members following its successful takeover of Virgin Money.
Each person will receive £50 and most of the payments will be made next month. Nationwide said the payment is to say “thank you” to its members for helping it achieve a good financial performance, which it said helped it complete its takeover of Virgin Money.
The “thank you” payment will be made from April 9 to anyone who had a savings or current account, or mortgage, at the end of last September. You must also have made at least one transaction through your current account or savings, or had a balance of at least £100 in your current account, savings or mortgage, in the 12 months to the end of September 2024.
Your account or mortgage must also still be active at the time the payment is made. The payment will be made automatically, meaning you don’t need to do anything or contact Nationwide to get it.
Debbie Crosbie, Nationwide CEO, said: “Nationwide became even stronger when it bought Virgin Money and we are already improving services for its customers. The Big Nationwide Thank You recognises the role our members played in building the financial strength that made the deal possible. It’s another of the very real benefits of being a member of Nationwide and our modern mutual model.”
