Nationwide Building Society: online banking, mortgage and savings customers to get £100 payment - how to claim

• Nationwide will give £100 to millions of members this summer
• The Fairer Share Payment program started last summer
• It will see £385 million given to customers with qualifying accounts
• To qualify, members need a current account and either qualifying savings
• Payments will be made between 13 and 28 June 2024

Nationwide Building Society is set to give a free £100 to millions of its members this summer as part of its Fairer Share Payment program.

The initiative, which began last summer, will see £385 million given to customers who use Nationwide for everyday banking and have a qualifying savings or mortgage account.

It’s been a good 2024 for Nationwide, which earlier this year agreed to a deal to take over its smaller competitor, Virgin Money, worth around £2.9 billion.

The takeover plan will bring together Britain’s fifth and sixth largest retail lenders, creating a combined group with around 24.5 million customers, more than 25,000 staff and nearly 700 branches.

And in May, the building society reported a statutory pre-tax profit of £1.8 billion for the year to 4 April - though that was down about a fifth from the £2.2 billion reported this time last year.

But who is eligible for the latest member payment, how do you get it, and when can you expect to see it landing in your account? Here is everything you need to know,

Who is eligible?

To be eligible for the Nationwide Fairer Share Payment, members must have had a qualifying current account and either qualifying savings or a qualifying mortgage by 31 March 2024.

Members who qualify for the payment should have been contacted by Nationwide already. If you believe you are eligible but have not been contacted, you can check your status by logging in online or through Nationwide’s banking app.

Members registered for online banking will receive a notification upon logging in to confirm their eligibility.

When will the payment be made?

If you’re eligible, you can expect to receive the payment between 13 and 28 June.

No action is required on your part, and so long as your current account with Nationwide is open, the payment will be transferred directly to it.

If you only have a joint current account, the payment will be made to that account.