Nationwide customers up and down the UK are set to receive a one-off payment for £100 before the end of June as part of a unique annual reward scheme.
The Nationwide ‘Fairer Share Payment’ will see millions of customers who have an active current account, plus either a qualifying savings or mortgage product, receive £100 between June 13 and 28, 2024.
To qualify for the free cash, people must have had an active current account on March 31, 2024 and held one of the qualifying products during March this year.
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Full eligibility details are at the end of this article and on the Nationwide website here. Customers due the money should have been contacted by the building society by May 31, writes the Daily Record.
Nationwide recently announced profits of £2 billion over the last financial year and is sharing £385 million with nearly four million customers.
This is the second year of the Nationwide ‘Fairer Share Payment’ - last year, it paid a total of £340 million to over three million customers.
Eligibility for the £100 payment
To have a qualifying current account for a Fairer Share payment, it must have been open on March 31, 2024. Qualifying members must still have a current account in June.
Those with qualifying savings will have had at least £100 in total in one or more personal savings accounts or cash ISAs with Nationwide at the end of any day in March 2024.
Customers must have used their current account earlier this year. The exact criteria depends on which current account you have, a summary is below and full details can be found on the Nationwide website here.
FlexAccount, FlexBasic or FlexDirect
In two of the three months of January, February and March 2024, you must either have received at least £500 into the account and made at least two payments out of the account, or, have made at least 10 payments from the account.
If you have more than one of the above accounts, Nationwide said payments made across all those accounts in total will count towards hitting the requirements.
These requirements do not apply if you completed a switch into the account using the official switch service between January 1 and March 31, 2024.
FlexPlus
You must have paid, and continue to pay, the monthly account fee.
FlexOne, FlexStudent or FlexGraduate
You must have received at least one payment in or made one payment out of your account during March 2024.
You also need to have had savings or a mortgage with Nationwide in March 2024 to qualify.
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Savings
You must have held at least £100 in total across one or more Nationwide personal savings accounts or cash ISAs at the end of any day in March 2024.
Mortgage
You must have owed at least £100 on a Nationwide residential mortgage on March 31, 2024.
If you've withdrawn your savings or paid off your mortgage since the end of March, you will still qualify provided your current account remains open.
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