Nationwide has axed passbooks in a major blow to thousands of its customers. A passbook is a physical book that is used to keep a record of deposits, withdrawals and balances. Nationwide confirmed it was getting rid of passbooks back in July last year, and says customers can switch to a “savings wallet” which will include a Nationwide card and space to store mini statements. You can keep using your savings account as normal, and you can still hold on to your passbook for your own records. The building society claims just 2% of its 16million customers - roughly 320,000 people - currently use a passbook.
A message on the Nationwide website reads: “In February 2025, we removed our passbooks, but you can still manage your savings in branch. Each of our new alternative savings accounts come with a savings wallet and card. They are designed to be similar to your old passbook, and you can still take them into your local Nationwide branch.“. A Nationwide spokesperson told The Mirror last year: “We are modernising passbooks rather than removing them, but while they are changing, banking in branch isn’t. We are maintaining the benefits our passbook customers value most - face-to-face service and having a physical record of transactions. As the UK’s largest building society, we are investing in our systems so we can offer the products and services our customers expect from a modern mutual.”.
It comes after Martin Lewis' MoneySavingExpert.com team explained how to “maximise” your chance of getting a free £100 from Nationwide. The building society has paid out a “Fairer Share” bonus for the past two years to certain customers. Last year, a total of £385million was paid out in June to 3.85 million customers - but your eligibility was based on whether you met the qualifying criteria in the first three months of the year. MSE explained: “Now's the perfect time to maximise your chances.”.
Nationwide has not yet confirmed if the payments will be made again this year - it is all dependent on its financial performance and will likely be confirmed in May - but MSE has explained how the eligibility criteria is likely to be the same as previous years. Those who were eligible for a payment last year, needed to have a qualifying current account, plus a mortgage or savings account with Nationwide. Last year, your current account needed to have been opened on or before March 31, 2024. If you had a FlexAccount, FlexBasic, FlexDirect, you needed to have paid in at least £500 and make two payments out of your account in two of the first three months of the year, or make at least ten payments out of your account.
For those with a FlexOne, FlexGraduate, FlexStudent account, you just needed to have made a payment in or out of your account in March 2025. FlexPlus packaged accounts are also eligible as long as you have paid the account fee. Finally, you needed to have at least £100 in savings or owe at least £100 on a mortgage with Nationwide. Get our money-saving tips and top offers direct to your inbox with the Mirror Money newsletter.
