The one-off bonus is handed out to eligible Nationwide members as a way to share the building society’s profits.
Nationwide announced the scheme last month.
Who is eligible for the cash?
Nationwide said those customers meeting strict eligibility criteria would receive the £100 payment, with all payments made by 4 July.
The criteria include having a current account with Nationwide and £100 in a savings account or £100 owed on a Nationwide mortgage on 31 March this year.
Members with joint accounts will both receive the payment. Depending on the type of current account you hold, you must have made a certain number of payments out of it or have received a certain amount of money.
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Those holding adult non-student accounts must have made 10 payments or received £500 in two out of the first three months of this year, while those with the under-18 FlexOne account or student or graduate accounts only need to have made one payment. Those with joint accounts will receive £100 per person.
The majority of payments have been made
Nationwide said it has all but completed the Fairer Share payments on the first day of the roll-out, processing 99.97% of payments. The remaining 0.03% will be completed by 4 July.
Overall, Nationwide will return more than £1bn to eligible members in 2025 through Fairer Share and the £615m Big Nationwide Thank You scheme, which gives eligible members £50 for helping Nationwide build the financial strength to purchase Virgin Money last year.
Stephen Noakes, Nationwide’s retail director, said: “We have already made excellent progress in rolling out this year’s Fairer Share payment, having surpassed four million payments in the first day. We are delighted to have been able to pay eligible members £100 for the third year running due to Nationwide being in a strong financial position. That strength, combined with our mutuality, meant we were able to return a total of £2.8bn in value to members in the last financial year.”
Nationwide has paid out a Fairer Share Payment since 2023. The payment is dependent on Nationwide’s financial strength and is subject to board approval.
