Nationwide Building Society has said it could hand out more bonus cash to customers (Image: Getty)
Nationwide Building Society has hinted that more bonus cash could be on the way for customers after it announced a £50 thank you payment will be issued over the coming weeks.
The building society recently announced it would pay out £50 to 12 million of its members for its Big Nationwide Thank You, following its performance after buying out Virgin Money.
This comes after the group paid out £100 to customers last year as part of its Fairer Share Payment, with the building society sharing its profits among customers, with eligible current account holders.
Some customers have been asking on social media if the more payments could come. Nationwide has replied with this response to several members: “The Big Nationwide Thank You is in addition to the Fairer Share Payment we made last year.
“We would like to make another Fairer Share Payment this year, but this will depend on how we perform financially. We’ll announce our decision when we publish our results for the 2024/25 financial year.”
Nationwide is writing to members who are eligible for the £50 payment. To be eligible, you must have been a customer on September 30, 2024.
The payment should arrive by April 30 into either your current account, instant access or limited access savings account with Nationwide.
Also in the 12 months to the end of September 2024, you must have had either:
- At least one qualifying transaction on your Nationwide current account or savings account
- At least £100 in total in one or more of your Nationwide current accounts and savings accounts
- 0wed at least £100 in total on one or more Nationwide residential mortgages.
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Nationwide is also currently trying to attract new customers with a switching offer, giving away £175 when you come over from a non-Nationwide provider.
You can get the free cash when you switch to a FlexPlus, FlexDirect or FlexAccount, and you can get the payment even if you already have one of these accounts, as long as you follow the other rules.
Other providers also have switch offers on at the moment, with Lloyds Bank also giving out £175 when you switch to a Club Lloyds account.
NatWest is giving away an £150 cash incentive when you switch to a Reward Account with the provider.