Customers Await Fairer Share Payment Update
Nationwide Building Society will soon confirm whether millions of members will receive a £100 Fairer Share Payment in 2025. The building society plans to release its full-year financial results on 29 May and will include the final decision in this report. The Fairer Share Payment depends on the society’s financial performance and Board approval.
Past Payments Provide Precedent
The company introduced the Fairer Share scheme to reward loyal members who use its banking, savings, or mortgage services. In 2023, 3.4 million members received £100 each, amounting to £340 million in total. In 2024, the figure rose to 3.85 million members, with £385 million distributed.
Confirmation from Nationwide
Nationwide responded to recent public enquiries on social media. The statement read: “Nationwide’s board will decide on a Fairer Share payment for 2025 and it will depend on our financial performance. The decision and details on eligibility will be announced as part of our full year results end of May.”
A spokesperson echoed the message in an earlier update. They said: “Nationwide’s Board will decide on a Fairer Share payment for 2025 and it will depend on our financial performance. The decision will be announced as part of our full year results May 29.”
Eligibility Based on Past Criteria
It has yet to confirm criteria for 2025, but past conditions suggest who may qualify. Members needed to hold a Nationwide current account by 31 March 2025 to qualify. They also had to maintain the account until the payment date. The account needed to show activity within the first three months of the year.
Qualifying Transactions Explained
Eligible accounts required a deposit of £500 or at least ten outgoing payments during the period. Transfers between accounts owned by the same individual did not count. Outgoing payments could include standing orders and bank transfers. Members also needed either a qualifying savings balance or a mortgage balance.
Minimum Financial Requirements
To qualify, customers had to maintain at least £100 in their Nationwide savings account. Alternatively, they needed a minimum of £100 owed on a Nationwide mortgage. These conditions ensured the payment reached active and engaged members.
Additional Bonus for Loyalty
Nationwide recently paid £50 to over 12 million members following its acquisition of Virgin Money UK. The £2.3 billion takeover resulted in this separate “Thank You” payment. Nationwide issued the bonus either as direct bank transfers or as cheques. One member asked if the cheque could be deposited into a non-Nationwide account.
Nationwide confirmed: “The cheque can be paid into another current account as long as the account is in your name.”
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Eligibility Cut-off for the £50 Bonus
Members needed to hold a Nationwide account on 30 September 2024. They also had to remain members when the payments were issued. They met eligibility if they had at least one transaction on their account during the year up to 30 September 2024. Other conditions included maintaining £100 in accounts or owing £100 on a mortgage.
Savings Products Mentioned
Nationwide offers savings accounts like the Flex Instant Saver, which gives 3 per cent interest with unlimited withdrawals. It also provides the Flex Regular Saver, offering 6.5 per cent interest, though with a three-withdrawal limit. These accounts could help members meet future eligibility criteria.
Confirmation Due This Week
Nationwide has not confirmed this year’s Fairer Share Payment but has stated the decision will arrive with the annual results. Members who meet all eligibility requirements may expect contact from Nationwide on 31 May. If approved, payments could arrive between 13 and 28 June.
Continuing Member Engagement
The Fairer Share Payment forms part of Nationwide’s strategy to reward members who use its services consistently. The society defines the scheme as: “The Fairer Share Payment is our way of rewarding those members who choose us for their everyday banking as well as having savings or a mortgage with us.”
No Guarantee of Payment
Nationwide has not guaranteed the 2025 payment. The scheme’s continuation relies on financial performance and Board decisions. Members and industry observers await the 29 May results, which will reveal the outcome and updated criteria.
Strong Performance Needed
The building society’s results will indicate whether it achieved the growth necessary to continue the scheme. The payment remains subject to the strength of the financial year. If repeated, the £100 bonus could again support millions of members across the United Kingdom.
Conclusion
Building Society will announce the future of the Fairer Share Payment on 29 May. Millions await confirmation of another £100 reward. Past performance and eligibility rules provide a guide to potential requirements. Members can expect details of the decision and payment timeline in the coming days.
