Millions more savers could soon be in line for Nationwide’s popular annual bonus following the conclusion of the building society’s takeover of Virgin Money.
More than 3 million customers are understood to have become Nationwide members as a result of the deal agreed earlier this month. Virgin Money’s business officially transferred to Nationwide on 2 April, bringing major changes for its customers.
While the banks have said these savers will still be able to use Virgin Money’s services as they did before, they are now technically Nationwide members.
As a result, they are now in line to receive the building society’s £100 ‘Fairer Share Payment’, which has been given to customers in previous years, but is not guaranteed.
Guidance from Nationwide states: “Nationwide Fairer Share payments are subject to financial performance and are not guaranteed.
“Membership does not create an automatic right to any future payment. Any future decision on Nationwide’s Fairer Share Payment will be for Nationwide’s Board to consider. This would include any future decision on who is eligible to receive a Fairer Share payment.”
Unfortunately for these bankers, it will not be until 2027 at the earliest that they can receive the bonus, as they have just missed the March cutoff for receiving it in 2026.
Here’s how the payment has worked in previous years:
How to get Nationwide’s £100 bonus
Last year, the ‘Fairer Share’ payment was distributed to more than 4 million people in 2025, up from 3.85 million in 2024 and 3.4 million in 2023.
The initiative will cost the building society £400 million – the most it has ever distributed under the Fairer Share Scheme.
In all years, receiving the payment has been subject to certain eligibility criteria. In 2025, the building society explained that it went to “eligible members choosing Nationwide for their everyday banking, in addition to holding a qualifying savings or mortgage product”.
The payment came after Nationwide saw a 30 per cent jump in annual profits after an “outstanding” year that included completing the Virgin Money takeover. The firm was able to pay its members a one-off £615m ‘Thank You’ reward in 2025 following the deal.
The £2.9bn takeover saw the bank become the UK’s second-largest mortgages and savings provider, behind Lloyds Banking Group.
Stephen Noakes, Nationwide’s director of retail, said: “The acquisition of Virgin Money enables us to expand the benefits of mutuality, and we look forward to sharing the additional value we can create for our new members.
“From exclusive savings rates to existing member benefits, we want there to be every reason to join Britain’s biggest building society, which continues to be the UK’s most switched-to current account provider.”
Details of this year’s payment will be revealed in May.
Consumers have record savings options in final year of £20,000 cash ISA allowance
King is patron of new charity commemorating late Queen
Two-thirds of Gen Z adults say money is harming their mental health
Audiences should be more relaxed about mobile phone use, says BBC Proms boss
Unemployment falls below 5% in surprise boost for Labour
Government to ‘double down not back down’ on clean energy in face of gas spike
