Millions of Nationwide customers are set to receive a £100 payment from Wednesday, June 10, as the building society begins handing out its latest Fairer Share bonus.
Around 4.4 million eligible members will receive the payment, with Nationwide paying out roughly £440 million in total.
The cash boost is part of the building society's Fairer Share scheme, which rewards customers who use Nationwide for their everyday banking while also holding qualifying savings or mortgage products.
Who will get the £100 payment?
Nationwide says around 4.4 million members qualify for this year's payout.
The payment is available to eligible customers who use a Nationwide current account alongside qualifying savings or mortgage products.
The latest round means Nationwide will have handed out around £1.5 billion to members since launching the Fairer Share scheme in 2023.
Nationwide chief executive Dame Debbie Crosbie said: "More people than ever are choosing Nationwide."
She added: "Our growth in mortgages, retail deposits and personal current accounts is leading the market, which means we can again make a Fairer Share payment to eligible members."
More perks announced for customers
Alongside the £100 payment, Nationwide has unveiled a range of new customer benefits.
These include:
- A new 5% Member Exclusive Bond
- A £175 current account switching incentive
- Exclusive savings rates for members
The building society said it returned £1.8 billion of value to customers over the past year through payments, incentives and better-than-average savings and mortgage rates.
Record number of customers switching
Nationwide says it enjoyed a record year for current account growth, with more than one million accounts opened over the past year.
More than 300,000 people switched from rival banks, while student account openings doubled.
The lender, which now includes Virgin Money following its takeover, says it remains the UK's most popular choice for new university and college students.
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Nationwide boss's pay nearly doubles
The announcement comes as Nationwide revealed chief executive Dame Debbie Crosbie received a pay package worth £4.67 million during the latest financial year.
Her package included a salary of £1.2 million alongside bonuses and benefits.
The figure was almost double the £2.49 million she received the previous year.
