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Wales Online
2 days ago
- Business
- Wales Online
Nationwide to send out £100 to millions from today but warns some will miss out
Nationwide to send out £100 to millions from today but warns some will miss out Nationwide is paying out a third round of its Fairer Share payments between June 18 and July 4 in a boost to millions of customers - here's everything you need to know Nationwide is to send out £100 to millions of people (Image: jax10289 via Getty Images ) From today, millions of Nationwide bankers will begin to receive £100 bonus payments, however not every customer will get it. The building society is distributing a third round of its Fairer Share payments between June 18 and July 4. Eligible customers should have received an email or letter from Nationwide with the bonus being paid directly into your current account, so there's no need to apply for it. To qualify for the payment, you must hold a qualifying current account, as well as a savings account or mortgage with Nationwide. The exact qualifying criteria for each type of Nationwide current account can be found below. Your current account must have been opened on or before March 31, 2025. For savings accounts, you must have had at least £100 saved at the end of any day in March, 2025. Article continues below If you have a mortgage, you must have had at least £100 left to pay off on March 31, 2025. Nationwide will distribute a total of £400 million to four million customers after its statutory profit before tax rose to a record £2.3 billion, reports the Mirror. This follows a separate £50 thank you bonus that Nationwide paid out to customers earlier this year following the Virgin Money takeover. Debbie Crosbie, Nationwide's Chief Executive, said: "Nationwide has had an outstanding twelve months. "We returned a record £2.8 billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances, and we remain first for customer service." Nationwide Fairer Share - qualifying current accounts Here is the additional qualifying criteria for each Nationwide current account: Article continues below FlexOne, FlexStudent or FlexGraduate: You must have received at least one payment in, or made one payment out of your account, during March, 2025. This does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2025, and March 31, 2025. You must have received at least one payment in, or made one payment out of your account, during March, 2025. This does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2025, and March 31, 2025. FlexAccount, FlexDirect or FlexBasic: In two of the three months of January, 2025, February, 2025, and March, 2025, you must have received at least £500 into your current account, not including transfers from other Nationwide accounts and have made at least a set number of payments out of your current account. Again, this does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2025, and March 31, 2025. In two of the three months of January, 2025, February, 2025, and March, 2025, you must have received at least £500 into your current account, not including transfers from other Nationwide accounts and have made at least a set number of payments out of your current account. Again, this does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2025, and March 31, 2025. FlexPlus: Pay the monthly fee for maintaining the account.
Daily Mirror
2 days ago
- Business
- Daily Mirror
Nationwide £100 bonus payments being made to millions of customers from today
Nationwide is paying out a third round of its Fairer Share payments starting today - you can find out exactly who is eligible and when you can expect to be paid by below Millions of Nationwide customers will start to receive £100 bonus payments from today. The building society is paying out a third round of its Fairer Share payments between June 18 and July 4. If you are eligible for the cash, you should have received an email or letter from Nationwide. It will be paid directly into your current account, meaning you don't need to apply for it. In order to get the payment, you need to have a qualifying current account, plus a savings account or mortgage with Nationwide. You can find out the exact qualifying criteria for each type of Nationwide current account below. Your current account must have been opened on or before March 31, 2025. For savings accounts, you must have had at least £100 saved at the end of any day in March 2025. Get banking advice and deals straight to your WhatsApp! As banks market their latest switch offers and savings accounts, the Mirror has launched its very own Money WhatsApp community where you'll get all the latest banking advice and money-saving tips straight to your phone. We'll send you the latest breaking updates and exclusives all directly to your phone. Users must download or already have WhatsApp on their phones to join in. All you have to do to join is click on this link, select 'Join Chat' and you're in! We may also send you stories from other titles across the Reach group. We will also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose Exit group. If you're curious, you can read our Privacy Notice. If you have a mortgage, you must have had at least £100 left to pay off on March 31, 2025. The building society will pay out £400million in total to four million customers after its statutory profit before tax rose to a record £2.3billion. It comes after Nationwide paid out a separate £50 thank you bonus to customers earlier this year following the Virgin Money takeover. Debbie Crosbie, Nationwide's Chief Executive, said: 'Nationwide has had an outstanding twelve months. We returned a record £2.8billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances, and we remain first for customer service.' Nationwide Fairer Share - qualifying current accounts Here is the additional qualifying criteria for each Nationwide current account: FlexOne, FlexStudent or FlexGraduate: You must have received at least one payment in, or made one payment out of your account, during March 2025. This does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2025 and March 31, 2025. FlexAccount, FlexDirect or FlexBasic: In two of the three months of January 2025, February 2025 and March 2025, you must have received at least £500 into your current account, not including transfers from other Nationwide accounts and have made at least two payments out of your current account, or you must have made at least ten payments out of your current account. Again, this does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2025 and March 31, 2025. FlexPlus: Pay the monthly fee for maintaining the account.
Yahoo
3 days ago
- Business
- Yahoo
Nationwide announces date £100 bonus payments will arrive in accounts
Millions of Nationwide customers will start receiving a £100 bonus payments this week. The building society is poised to distribute a total of £400 million amongst four million customers, reports WalesOnline. The bonus cash forms part of Nationwide's Fairer Share scheme, which redistributes the company's profits back to its customers. READ MORE: Arrival of £200 cost of living payments and who'll be eligible this time around Get breaking news on BirminghamLive WhatsApp, click the link to join The funds will be directly deposited into customers' Nationwide current accounts between 18 June and 4 July. To be eligible for the payment, customers must hold a current account with Nationwide, as well as either a savings account or mortgage. The specific qualifying criteria for each type of Nationwide current account can be found below. Current accounts must have been opened on or prior to March 31, 2025 whereas savings accounts must have had at least £100 saved at the end of any day in March 2025. Nationwide sent those eligible an email or letter last month. This announcement comes on the heels of a 30% increase in annual profits for Nationwide following its acquisition of Virgin Money. Pre-tax profits climbed to £2.3 billion for the year ending 31 March, up from £1.8 billion the previous year. However, on an underlying basis, pre-tax profits dipped to £1.9 billion from £2 billion, as Nationwide stated it had prioritised offering competitive interest rates to its customers. Nationwide, the UK's largest building society, recently announced an unprecedented profit of £3.1billion. Earlier in the year, members celebrated a one-off £50 bonus, following its acquisition of Virgin Money. Nationwide's financial success has resulted in a series of generous rewards for its members. The previous year saw 3.85 million eligible members sharing a total of £385million after Nationwide reported £2billion in profits. Nationwide's Chief Executive, Debbie Crosbie, said: "Nationwide has had an outstanding twelve months. "We returned a record £2.8billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances, and we remain first for customer service." The announcement confirmed that the bonus is set to be paid from tomorrow, June 18 to Friday, July 4 for those meeting the eligibility criteria. Listed below are the qualifying requirements for each Nationwide current account: FlexOne, FlexStudent or FlexGraduate: You must have received at least one payment in, or made one payment out of your account, during March 2025. This does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2025 and March 31, 2025. FlexAccount, FlexDirect or FlexBasic: In two of the three months of January 2025, February 2025 and March 2025, you must have received at least £500 into your current account, not including transfers from other Nationwide accounts and have made at least two payments out of your current account, or you must have made at least ten payments out of your current account. Again, this does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2025 and March 31, 2025. FlexPlus: Pay the monthly fee for maintaining the account.
Wales Online
3 days ago
- Business
- Wales Online
Nationwide confirms £100 payment to land in bank accounts within days - full list of who is eligible
Nationwide confirms £100 payment to land in bank accounts within days - full list of who is eligible The building society is set to hand out a total of £400 million to four million customers in the latest round of its Fairer Share scheme. This is what you need to know Nationwide customers are in for another round of bonus payments as profits soar (Image: Alan Morris via Getty Images ) Millions of Nationwide customers will start receiving a £100 bonus payments this week. The building society is poised to distribute a total of £400 million amongst four million customers. The bonus cash forms part of Nationwide's Fairer Share scheme, which redistributes the company's profits back to its customers. The funds will be directly deposited into customers' Nationwide current accounts between 18 June and 4 July. To be eligible for the payment, customers must hold a current account with Nationwide, as well as either a savings account or mortgage. The specific qualifying criteria for each type of Nationwide current account can be found below. Current accounts must have been opened on or prior to March 31, 2025 whereas savings accounts must have had at least £100 saved at the end of any day in March 2025. Those who have mortgages must have at least £100 of payment pending on March 31, 2025. For money-saving tips, sign up to our Money newsletter here Nationwide sent those eligible an email or letter last month. Article continues below This announcement comes on the heels of a 30% increase in annual profits for Nationwide following its acquisition of Virgin Money. Pre-tax profits climbed to £2.3 billion for the year ending 31 March, up from £1.8 billion the previous year. However, on an underlying basis, pre-tax profits dipped to £1.9 billion from £2 billion, as Nationwide stated it had prioritised offering competitive interest rates to its customers. Nationwide, the UK's largest building society, recently announced an unprecedented profit of £3.1billion. Earlier in the year, members celebrated a one-off £50 bonus, following its acquisition of Virgin Money. Nationwide's financial success has resulted in a series of generous rewards for its members. The previous year saw 3.85 million eligible members sharing a total of £385million after Nationwide reported £2billion in profits. Nationwide's Chief Executive, Debbie Crosbie, said: "Nationwide has had an outstanding twelve months. We returned a record £2.8billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances, and we remain first for customer service." The announcement confirmed that the bonus is set to be paid from tomorrow, June 18 to Friday, July 4 for those meeting the eligibility criteria. Listed below are the qualifying requirements for each Nationwide current account: FlexOne, FlexStudent or FlexGraduate: You must have received at least one payment in, or made one payment out of your account, during March 2025. This does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2025 and March 31, 2025. Article continues below FlexAccount, FlexDirect or FlexBasic: In two of the three months of January 2025, February 2025 and March 2025, you must have received at least £500 into your current account, not including transfers from other Nationwide accounts and have made at least two payments out of your current account, or you must have made at least ten payments out of your current account. Again, this does not count if you completed a switch to your account using the Current Account Switch Service between January 1, 2025 and March 31, 2025. FlexPlus: Pay the monthly fee for maintaining the account.
Yahoo
3 days ago
- Business
- Yahoo
Nationwide draws up bonus plan that could give CEO £7m payday
Nationwide's chief executive, Debbie Crosbie, could land a maximum pay package of nearly £7m as part of a new bonus plan that has been criticised as 'borderline hypocritical' for a UK building society. The pay policy, which will be put to its customers next month, would raise Crosbie's maximum payout by 43% to £6.9m. She had previously been allowed to earn up to £4.8m under the building society's remuneration guidelines. The plans were outlined in Nationwide's annual report, which argued that Crosbie's pay should reflect new demands following the £2.9bn takeover of Virgin Money, and should be offering payouts close to packages offered by rivals including Lloyds Banking Group and NatWest. Those rivals, it said, had 'significantly increased' executive pay following the eradication of the UK banker bonus cap, which previously limited payouts to two times' salary. 'This has materially increased the gap between Nationwide and the firms with which we compete for senior talent,' its annual report said. Nationwide now wants to offer Crosbie an annual bonus worth up to 150% of her £1.1m salary, up from 100%, and said it would consider hiking other elements – which could include long-term bonuses – in order to compete with other big high street lenders. 'While our proposed changes for 2025-26 will go some way to addressing the competitive gap, we remain materially behind some of our UK banking peers, and the committee recognises that future policy changes among other firms may further increase the existing gap,' the annual report said. Nationwide is hoping that its customers back the new plan at its annual meeting, which is being held online on 25 July. But the pay policy drew criticism from the High Pay Centre thinktank, which said a member-owned UK building society like Nationwide should not be trying to match UK banks on pay. Luke Hildyard, the director of the High Pay Centre, said: 'It's borderline hypocritical for a building society that presents itself as an ethical alternative to the major banks to replicate their pay culture, the aspect of modern banking that people find most egregious. 'Nationwide is a longstanding institution with an established brand and business model. They really don't need to make such vast executive payouts and could better reflect the values they project in TV adverts by doing things differently.' Nationwide had a TV advert banned last year that mocked its bank rivals. The original advert showed the actor Dominic West as a fictional, hard-nosed bank manager intent on closing branches. He mocked customers who have lost their life savings as a 'total yawn fest', clicks his fingers for a green smoothie and says: 'We're not Nationwide are we, we're nothing like them.' Nationwide's annual report showed Crosbie was paid a total of £2.5m for the financial year to March, up 2.4% from a year earlier. The staff bonus pot – excluding new Virgin Money colleagues – rose 16.8% to £97m. Including the newly added Virgin Money workforce, the bonus pot totalled £132m. A Nationwide spokesperson said: 'Nationwide has become the second largest provider of mortgages and retail deposits, and remains first for customer satisfaction, because it can attract, retain and motivate talented leaders to run a business of this scale and prioritise member value.'
