Nationwide customers who meet three simple requirements could get free £100
Nationwide customers who meet three simple requirements could get free £100
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The details of Nationwide’s Fairer Share bonus for this year have not yet been announced. However, over the past two years, the bank has gifted certain existing customers with a free £100 bonus. Last year alone, the high street firm distributed a total of £385million to 3.85 million customers, as reported by MSE. To increase their chances of receiving the payment, which is potentially due in the summer, customers may need to take some action in advance.
This includes maintaining their status as an existing Nationwide customer. If the building society applies the same criteria this year as it has previously, customers will need to meet three requirements. Firstly, they must keep their Nationwide current account open until at least March 31, 2025. Secondly, they must use their current account before this deadline and finally, they must either have at least £100 in savings or owe £100 on a mortgage with Nationwide.
What constitutes 'use' for the second requirement depends on the type of account you hold. Those with a FlexAccount, FlexBasic or FlexDirect have two options. The first is depositing £500 and making two payments out of your account. The second option is to make more than 10 payments out of the account in two of the first three months of the year. Customers with a FlexPlus packaged account arguably have the simplest route as previously, just paying the account fee was considered use for the scheme. However, those on FlexOne, FlexGraduate or FlexStudent accounts must make a payment in and out of their account in March.
Those trying to make themselves eligible for this account may find it useful to follow these criteria that have been used in the past, although there's no guarantee they will remain the same this year. In fact, Money Saving Expert advises people who currently don't meet the savings or mortgage criteria to put £200 into an easy access or regular savings account with Nationwide, just in case the rates increase this summer.
