Latest news with #FairerShare
The Independent
2 days ago
- Business
- The Independent
Where is my Nationwide £100 bonus? Dates and eligibility explained as first payments arrive
Nationwide 's annual bonus has started arriving in bank accounts, gifting eligible savers £100 each. For the third year running, this 'Fairer Share' payment will be distributed to millions of Nationwide members. The bank says this includes more than 4 million people in 2025, up from 3.85 million last year and 3.4 million the year before. The initiative will cost the building society £400 million – the most it has ever distributed as part of the Fairer Share Scheme. As with previous years, receiving the payment will be subject to certain eligibility criteria. The building society explains that it will go to 'eligible members choosing Nationwide for their everyday banking, in addition to holding a qualifying savings or mortgage product'. Most people have now received their payment, as Nationwide confirms that 99.97 per cent of eligible members were paid on Wednesday. The building society said the remaining eligible members should receive their payments by 4 July at the latest. Stephen Noakes, Nationwide's retail director, said: 'We have already made excellent progress in rolling out this year's Fairer Share payment, having surpassed four million payments in the first day. We are delighted to have been able to pay eligible members £100 for the third year running due to Nationwide being in a strong financial position. 'That strength, combined with our mutuality, meant we were able to return a total of £2.8bn in value to members in the last financial year.' The payment comes after Nationwide saw a 30 per cent jump in annual profits after an 'outstanding' year that saw it complete the takeover of Virgin Money. The firm was able to pay its members a one-off £615m 'Thank You' reward earlier this year following the deal. The firm completed the £2.9bn takeover, which saw the bank become the UK's second-largest mortgages and savings provider, behind Lloyds Banking Group. The group said integration of the acquisition was 'progressing well'. Nationwide said it was continuing to run the two businesses separately initially after the acquisition, and had no plans for job cuts in the short term. But Ms Crosbie said it was 'too early to say' what impact there would be on staff of the combined group further out as it integrates the businesses. 'Every business always reviews its workforce, and we'll continue to do that on an ongoing basis, but it's too early to say if there'll be an impact on the broader workforce,' she said. She also signalled Nationwide would keep Virgin Money's Newcastle headquarters, with Ms Crosbie saying 'the current footprint that we have will remain the same'.
Daily Mail
2 days ago
- Business
- Daily Mail
Nationwide pays out 99% of all £100 Fairer Share payments in one day - have you got yours?
Nationwide has paid out £100 to more than 4million members in a single day, Britain's biggest building society has revealed. Today marks the first day its Fairer Share offer payouts started, which was announced in May. And Nationwide says it has 'all but completed' the payments already to eligible customers. It has processed 99.97 per cent of payments to eligible members, with the remaining 0.03 per cent due to be completed by 4 July at the latest. It means the mutual has paid out £400million to Nationwide members today making it one of the UK's largest payouts in a single day. This is the third year running Nationwide has made the Fairer Share payment to members, which it started in 2023. It came as Nationwide announced profits of £2.3billion before tax in its annual results in May. As a mutual owned by members not shareholders, Nationwide is able to share some of its profits with its members rather than paying dividends. To be eligible for the payment this year, Nationwide members needed to have either a current account and savings account, or a current account and a mortgage. To be a qualifying current account, your account must have been open on 31 March 2025. Qualifying members must still have a current account open in June. Your savings will have qualified for the current account if you had at least £100 in total or in one or more savings accounts or cash Isas with Nationwide at the end of any day in March 2025. To be a qualifying mortgage customer, you must have had at least £100 on your Nationwide residential mortgage on 31 March 2025. In total, Nationwide has now paid eligible members more than £1billion in cash in 2025. In addition to the £400million Fairer Share offer, Nationwide paid out £615million to members in its Big Thank You payment, which gave over 12million eligible members £50 to thank customers for enabling the successful purchase of Virgin Money Stephen Noakes, Nationwide's retail director, said: 'We have already made excellent progress in rolling out this year's Fairer Share payment, having surpassed four million payments in the first day. 'We are delighted to have been able to pay eligible members £100 for the third year running.'
Scottish Sun
2 days ago
- Business
- Scottish Sun
Millions of Nationwide customers to receive £100 free cash from TODAY – will you get it?
CUSTOMERS of a UK banking giant are set to receive a free £100 payment from today - and you could be eligible to claim the cash. Loyal customers who've saved or borrowed with the beloved building society are set to be given payouts through a rewards scheme just for them. 2 Eligible banking customers can get £100 for free Credit: Alamy 2 Nationwide Building Society has run the payment scheme for three years in a row Credit: Getty This Fairer Share scheme has been run by the building society in previous years. And this year the payments will go into effect on Wednesday, June 18 - meaning today is the day those eligible are set to get the free money. Nationwide confirmed the payments would 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. Popular bank with over 400 spots confirms it is shutting 18 branches in August – it follows 148 closures by rivals In 2024, Nationwide paid out £385 million to 3.85 million people as part of the scheme. 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 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.
The Sun
2 days ago
- Business
- The Sun
Millions of Nationwide customers to receive £100 free cash from TODAY – will you get it?
CUSTOMERS of a UK banking giant are set to receive a free £100 payment from today - and you could be eligible to claim the cash. Loyal customers who've saved or borrowed with the beloved building society are set to be given payouts through a rewards scheme just for them. 2 2 This Fairer Share scheme has been run by the building society in previous years. And this year the payments will go into effect on Wednesday, June 18 - meaning today is the day those eligible are set to get the free money. Nationwide confirmed the payments would 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. Popular bank with over 400 spots confirms it is shutting 18 branches in August – it follows 148 closures by rivals In 2024, Nationwide paid out £385 million to 3.85 million people as part of the scheme. 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 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.
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.
