Nationwide announces decision on £100 bonus payments on May 29 | Personal Finance | Finance

Millions of Nationwide Building Society customers are set to receive a free £100 bonus as part of its Fairer Share Payment scheme this summer.

The mutual confirmed the scheme would run again this year when it released its full-year results this morning, describing an “outstanding” 12 months. The building society reported a 30% rise in annual pre-tax profits, reaching £2.3 billion for the year to March 31, up from £1.8 billion the previous year. It also reportedly paid out a record £2.8 billion in rewards to customers. Debbie Crosbie, Nationwide’s Chief Executive, said: “Nationwide has had an outstanding twelve months. We returned a record £2.8 billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances, and we remain first for customer service.”

The Fairer Share Payment allows the mutual to “share profits” with loyal banking and mortgage customers, and whether or not it’s paid is based on the group’s full-year results.

Who is eligible for Nationwide’s Fairer Share Payment? 

To be eligible, customers will need a qualifying current account plus either qualifying savings or a qualifying mortgage.

They would have needed to meet these criteria when Nationwide last checked on March 31, 2025. People can check if they qualify using the eligibility tool.

The money will be paid directly into eligible customers’ Nationwide current accounts between June 18 and July 4. This year, Nationwide said more than four million members will receive the bonus.

Members who didn’t have their main current account with Nationwide on March 31 can benefit from a new £200 switch offer, launched today. To qualify, you must have been a Nationwide member on March 31, 2025. Then:

• Open or switch into a FlexDirect, FlexAccount, or FlexPlus online account, and use the Current Account Switch Service to fully switch a current account from another provider (including at least two Direct Debits).
• Complete the switch within 28 days of opening the account or requesting the switch.
• Within 31 days, pay in at least £1,000 (excluding internal transfers) and make one debit card payment.

The latest bonus announcement comes just weeks after Nationwide announced that eligible customers would be gifted a £50 “thank you” payment. More than 12 million Nationwide customers were issued the alert, and payments arrived to those who qualified by April 30, 2025.