Nationwide Building Society is rewarding its members with a £50 bonus as part of The Big Nationwide Thank You. More than 12 million people across the UK will receive a share of over £600 million, recognising their role in helping Nationwide successfully acquire Virgin Money.
Who Will Receive the £50 Thank You Payment?
More than 560,000 people in East Anglia, including thousands in Cambs, are set to benefit from this special payout. The majority of payments will be made next month, starting from April 9, 2024.
Eligibility Criteria
To qualify, members must have:
- Held a Nationwide savings or current account, or mortgage as of September 2023
- Made at least one transaction on their current or savings account OR
- Maintained a balance of at least £100 in their account or mortgage within the 12 months leading up to September 2024
Nationwide will contact eligible members from today, informing them when and how they will receive the payment. Members can also check their eligibility on the official Nationwide website: www.nationwide.co.uk
Why Is Nationwide Giving Away £600 Million?
Nationwide’s strong financial performance enabled it to acquire Virgin Money in 2024. This move has positioned Nationwide as:
- The UK’s top lender for first-time buyers
- The country’s second-largest mortgage and savings provider
- The only mutual full-service banking provider in the UK
Nationwide CEO Debbie Crosbie Stated:
“Nationwide became even stronger when it bought Virgin Money, and we are already improving services for its customers. The Big Nationwide Thank You recognises the role our members played in building the financial strength that made the deal possible.”
Since April 2023, Nationwide has provided over £3.5 billion in member value, including:
- £729 million in two Nationwide Fairer Share Payments
- The latest £600 million in ‘Thank You’ payments
This initiative highlights the mutual model of Nationwide, where profits are shared with members rather than external shareholders.
How Will Members Receive Their Payment?
- Payments will be processed automatically from April 9, 2024
- Members will be notified via letter or email
- Funds will be deposited directly into eligible members’ Nationwide accounts
If you believe you qualify but haven’t received a notification, you can check your eligibility on the Nationwide website.
Nationwide’s £50 bonus is a direct benefit of being a member of a mutual rather than a traditional bank. With the successful Virgin Money acquisition, Nationwide has expanded its services while ensuring that members, not shareholders, benefit from its financial strength.
If you’re a Nationwide customer, keep an eye on your account from April 9—you could be receiving a £50 ‘thank you’ soon!
