Millions of Nationwide customers are set to receive a £100 payment as Britain’s largest building society unveils the latest distribution under its Fairer Share scheme.
Since its inception in 2023, the initiative will have returned approximately £1.5 billion to members, a move Nationwide states reflects its commitment to sharing the benefits of its financial performance.
While the society aims to make Fairer Share payments annually, these are not guaranteed and remain subject to Board approval.
The news comes as Nationwide Building Society revealed a drop in its annual profits after taking over Virgin Money and made a pre-tax profit of £1.49 billion for the year to the end of March. This is down from the £2.3 billion it made last year.
The latest Fairer Share payment, totalling around £440 million and going to around 4.4 million eligible Nationwide members, will be paid from 10 June.
Who is eligible for Nationwide Fairer Share payments?
People can check the full terms and conditions on Nationwide’s website to see if they could be eligible.
In general, to meet the criteria for the new £100 payment, people must be a member of Nationwide with a qualifying current account, plus either qualifying savings or a qualifying mortgage.
The criteria need to have been met by March 31 2026.
A current account held with Clydesdale, including a Virgin Money current account, will not be a qualifying current account.
Members may have had qualifying savings if they had at least £100 in total in one or more personal savings accounts or cash Isas with Nationwide at the end of any day in March 2026.
For qualifying mortgages, people must have owed Nationwide at least £100 on their Nationwide residential mortgage on 31 March 2026.
What to do if you missed out on the Nationwide Fairer Share payment
Virgin Money customers may have missed out this time, but if they have become a member of Nationwide as a result of the transfer, they could be eligible for a Fairer Share payment in 2027 which will include qualifying Virgin Money accounts.
Nationwide said it would like to make the payment every year, but this will depend on its financial performance.
In a further sweetener for customers, the Society is also offering a new 5 per cent“member exclusive” bond, and it also has a £175 current account switching incentive for those moving their current account to Nationwide.
The bond pays 5 per cent AER (annual equivalent rate) for 15 months on balances up to £10,000.
