Nationwide has told millions of its members that they’ll be sent £50 for free in the coming weeks. The world’s largest building society confirmed on Tuesday, March 11, that it will give more than 12 million customers a share of over £600m as a « thank you », following its purchase of Virgin Money.
It added that « Nationwide’s financial strength, which its members have helped build, allowed it to acquire Virgin Money in 2024. As a result, Nationwide is now even stronger and able to deliver the benefits of mutuality to even more people in the UK. »
The financial institution has contacted eligible members via email, letting them know they will receive a one-off £50 payment by April 30. Nationwide added: « You don’t need to do anything.
« If you only have a joint account, we will send your payment there. And if we have your mobile number, we will send you a text to let you know when it is in your account. »
Eligibility is based on previous banking history, however people will still need to be Nationwide members when the payment is made in order to receive it. This payment is not what is known as a « Fairer Share Payment » – a separate bonus Nationwide has handed out in recent years.
Nationwide said it « would like to make another Fairer Share payment this year », though this « will depend on how we perform financially ». More information about this will be given when the building society shares its full results in May.
