Major high street bank is handing out £100 to over 4 MILLION customers this week – are you eligible?
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CUSTOMERS of a major UK bank will receive £100 starting from tomorrow.
The payments will be made through a scheme rewarding loyal members who have saved or borrowed with the popular building society.
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Around four million customers will be eligible for the free cash payments this week (stock image)
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This Fairer Share scheme has been run by the building society in previous years and will go into effect on Wednesday, June 18.
Nationwide has confirmed the payments will be made through Friday, July 4.
While around four million Nationwide customers will benefit from the scheme, not everyone is eligible.
To qualify, customers will need to have opened a current account with Nationwide on or before March 31, 2025.
They must also have at least £100 in savings, or have owed £100 or more on a mortgage by that same March deadline.
Customers also need to have used their account between January 1 and March 31 this year.
A total of about £410 million is estimated to be paid out.
And if you missed out on this year's deadline, you may be eligable for the free cash next year as the building society has run the Fairer Share scheme three years in a row.
However, there is no guarantee Nationwide will run the scheme again.
In 2024, Nationwide paid out £385 million to 3.85 million people as part of the scheme.
NatWest to close 53 bank branches in fresh blow to UK high street – see if your local is affected
The bank also recently offered exclusive access to a top savings account rate for its customers.
What other banking perks can you get?
Existing customers with Nationwide can also get a free £200 bonus if they switch a non-Nationwide current account into a new or existing FlexDirect account.
You'll also get 5% interest on current account balances up to £1,500 for a year.
Meanwhile Santander is giving out £180 free cash to those who switch to its Edge account.
Plus there's a linked savings account that pays 6% interest on up to £4,000 for the first year.
Where to find the best savings rates
Many savings accounts offer miserly rates meaning that money is generating little or no return.
However, there are ways to get your cash working hard. Sun Savers Editor Lana Clements explains how to make sure you money is getting the best interest rate.
Easy access savings accounts offer flexibility for customers, meaning they can dip in and out of cash when needed. However, the caveat is that rates can change at any time.
If you're keeping your money in an easy access account, you'll need to keep checking whether it's the best paying account for your circumstances and move if not.
Check in at least once a month to see what is happening in the market.
Check what is offered by your bank - sometimes the best rates are for customers only.
But do search the wider market as often top savings accounts are offered by lesser known providers.
Comparison sites are a good place to check for the top rates. Try Moneyfactscompare.co.uk or Moneysupermarket.
You can search by different account type. You'll usually get a better interest rate if you can lock your money away for a fixed amount of time, but it's always a good idea to keep some money in an easy access account in case of emergencies.
Don't overlook regular savings accounts often pay some of the best rates, but you'll need to commit to monthly payments. This can be a great way to get into a savings habit while earning top rates at the same time.
First Direct is giving away £175 to people who switch to its 1st Account.
You just need to open an account and set up at least two direct debits or standing orders within 45 days.
You will also need to pay in £1,000 and make five debit card payments within the same timeframe.
TSB is handing out £100 cash but £15 a month in cashback for six months to those who switch to its Spend and Save account.
Plus, you can get either £120 credit towards a hotel booking via Expedia's Travel Credits website or 12 months of activity tickets with the National Activities Network.
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