If you are eligible, the money will be issued automatically – meaning you do not need to apply for it, or send over any details
Nationwide will start sending out its £100 Fairer Share payments to millions of its members from today.
Around 4.4million people are set to receive the payment from the building society, with the cash being sent to accounts between June 10 and June 30.
If you are eligible, the money will be issued automatically – meaning you do not need to apply for it, or send over any details.
Nationwide confirmed the handouts last month as part of its latest financial results, where it announced profits of £2billion.
It marks the fourth year in a row where Nationwide is paying Fairer Share bonuses. But not everyone is eligible for the payments.
You need to have a qualifying Nationwide current account, plus a savings account or mortgage with Nationwide.
If you have a FlexAccount, FlexDirect or FlexBasic account, then you must have received £500 into your account in two of the three months of January, February and March, and made at least two payments out of your account.
Or, you must have made at least ten payments out of your current account in two of those three months. If you did not do either of the above, you will also qualify if you completed a switch to Nationwide using the Current Account Switch Service between January and March.
If you have a FlexOne, FlexStudent or FlexGraduate, then you must have received at least one payment in, or made one payment out of your account, during March. Again, this does not apply if you completed a switch to your account using to Nationwide between January and March.
FlexPlus customers just needed to pay the £18 monthly fee to qualify for the £100 bonus.
For savings accounts, you needed to have had at least £100 saved at the end of any day in March. For mortgage customers, you needed to have had at least £100 left to pay off by the end of March.
The money is treated as savings for tax purposes, but you can earn up to £1,000 in savings interest every tax year before you need to pay tax.
Dame Debbie Crosbie, Nationwide’s Chief Executive, said: “More people than ever are choosing Nationwide.
”Our growth in mortgages, retail deposits and personal current accounts is leading the market, which means we can again make a Fairer Share payment to eligible members, and offer a new Member Exclusive Bond to all members.”
Last year, Nationwide paid out £400million to more than four million customers. The building society has paid out £1.5billion since the scheme started in 2023.
