Nationwide Confirms New £100 Bonus Payment Update for Customers

In a welcome move for its members, Nationwide Building Society has officially announced a fresh update regarding its £100 bonus payment program in 2024. The highly anticipated Nationwide bonus payouts are designed to reward the building society’s loyal customers and have prompted interest across the UK banking industry. Here’s a comprehensive look at everything you need to know about the Nationwide £100 bonus payment, eligibility criteria, key dates, and what this means for both new and existing members.

What Is The Nationwide £100 Bonus Payment?

The Nationwide £100 bonus payment is part of the mutual institution’s ongoing commitment to share profits with its members. This “Fairer Share” bonus follows Nationwide’s tradition of redistributing a portion of its annual surplus directly to qualifying customers. Last year, Nationwide delivered a similar scheme, reflecting its unique status as a member-owned building society.

Key objectives of the bonus payment include:

  • Rewarding loyal Nationwide customers
  • Encouraging retention and acquisition of new account holders
  • Demonstrating mutual values and differentiating from shareholder-driven banks

Why Is Nationwide Paying Out These Bonuses?

Unlike profit-focused banks, Nationwide operates for the benefit of its members rather than external shareholders. By redistributing profits, the building society ensures the advantages of its financial performance are felt by the very people who own it—its customers.

Who Is Eligible For The £100 Nationwide Bonus in 2025?

Eligibility for the Nationwide £100 “Fairer Share” bonus is subject to strict criteria:

  • Current Account Holders: You must have held an eligible Nationwide current account on 31 March 2025, with qualifying activity such as regular monthly deposits.
  • Savings or Mortgage Products: You must also hold a qualifying savings account or mortgage with the society as of 31 March 2024.
  • UK Residency: Only customers officially resident in the UK are eligible for the bonus payout.
  • No Account Restrictions: Accounts with restrictions or under investigation do not qualify for the bonus.

It’s important to note that not all account types are included, and Nationwide has provided a comprehensive breakdown on their website and in direct customer correspondence. The aim is to reward genuine, engaged customers with active relationships, rather than dormant accounts.

Details on Qualifying Products

  • Current accounts: FlexPlus, FlexDirect, FlexAccount, and other main current account products qualify, subject to terms.
  • Savings: Members must also have qualifying savings balances, typically requiring a minimum average balance as specified by the society.
  • Mortgages: Nationwide mortgage holders with active balances qualify alongside a current account.

When Will the £100 Bonus Payment Be Made?

According to the latest official update, Nationwide will begin paying the £100 bonus directly into the linked current account of eligible members from June 2024. The process is expected to be automatic; there’s no need for eligible customers to apply or take further action.

Payment timeline highlights:

  • Bonus payments will start rolling out in June 2024
  • Most qualifying members can expect to see the funds by the end of June or early July
  • Payments will arrive as a direct bank transfer, identified with a reference relating to the “Nationwide Fairer Share” bonus

Nationwide will notify eligible customers via email, letter, or online banking message so members can check the status and confirm receipt of their bonus.

How Do You Check If You’re Eligible?

To confirm eligibility for the 2025 Nationwide £100 bonus payment, customers can:

  • Login to the Nationwide Internet Banking portal or mobile app for messages on eligibility and payment dates.
  • Review email or postal notifications sent by Nationwide explaining the bonus and any next steps.
  • Check the terms and conditions for the “Fairer Share” payout on the Nationwide website.

If you are unsure, Nationwide recommends contacting their customer service team directly or visiting in-branch for a detailed assessment of your eligibility.

Common Reasons for Ineligibility

  • Current account is dormant or not used for everyday banking
  • Savings and mortgage products do not meet the specified thresholds
  • Residence registered outside the UK on 31 March 2024
  • Account under investigation or with pending restrictions

What If You Opened a New Account After March 2024?

Only accounts held by 31 March 2024 qualify for the 2024 payment. If you opened a Nationwide account after this date, you won’t be eligible for this round. However, Nationwide has hinted that similar rewards may continue annually, so keeping an active account could qualify you for future bonuses.

Why Nationwide’s Bonus Payment Matters in 2024

The 2024 bonus follows a year of robust financial results for Nationwide, which cited growth in both savings and mortgage activity. With cost-of-living pressures impacting households across the UK, the bonus is positioned as a tangible benefit for everyday banking members. For many, the £100 payout is both a valuable financial boost and a sign of the society’s mutual, member-centric principles.

  • Supports cost of living: The bonus provides real monetary benefit at a time when many households face rising energy and food bills.
  • Differentiates Nationwide: With fewer banks offering such direct payouts, the scheme highlights the society’s unique approach to customer value.

Customer Reactions and Nationwide’s Promise

The prospect of a direct cash bonus has sparked positive reactions from many of the building society’s customers. Nationwide has a long-standing reputation for reinvesting into its products and services, but the “Fairer Share” payout is seen as a direct and personal thank-you.

Some customers have shared their excitement online about upcoming holiday spending or bill payments, while others commend Nationwide for giving back during financially challenging times.

What Nationwide Said: Official Statement

Nationwide’s leadership emphasized the importance of maintaining a strong mutual ethos. A spokesperson explained:

“Our members are at the heart of everything we do. The ‘Fairer Share’ bonus ensures our profits are shared with those who have entrusted us with their main banking, savings, or mortgage needs. We believe this is a fair, meaningful way to say thank you, especially as many face higher everyday costs.”

How Does Nationwide’s Bonus Compare to Other Banks?

Nationwide stands almost alone in offering such a sizable and direct cash bonus to a broad base of its existing customers. While some high-street banks occasionally operate switching rewards, these are ​typically limited to new customers and require closing accounts elsewhere.

Key differences in the Nationwide scheme:

  • Reward is given to loyal existing members—not just new joiners
  • No need to switch from another bank
  • Bonus is not tied to spending requirements

Other leading banks focus on introductory offers, free overdrafts, or short-term promotions rather than profit-sharing. As a mutual, Nationwide’s approach is more akin to a dividend for account holders.

Are There Any Strings Attached to the £100 Bonus?

No, the £100 Nationwide bonus is paid as a one-off, tax-free amount directly into the recipient’s current account. There is no requirement to keep the money with Nationwide or to meet additional conditions (beyond ongoing account eligibility up to 31 March 2024).

Customers are free to withdraw, transfer, or spend the money as they wish—there are no restrictions on use.

Tips to Benefit from Future Nationwide Bonus Payments

If you weren’t eligible for this year’s payout but wish to benefit from future schemes, it’s wise to:

  • Open an eligible Nationwide current account and use it regularly.
  • Maintain at least one qualifying savings or mortgage product with an active balance.
  • Check for updates from Nationwide in early spring each year, as the bonus criteria are set annually.
  • Ensure your online and physical account details are up to date, including your UK residency status.

Frequently Asked Questions about the Nationwide £100 Bonus Payment

Will this affect my taxes or benefits?

No, the bonus is classed as a payment from a mutual society and is not taxable. It should not affect most benefits, but if in doubt, consult your accountant or benefits adviser.

Will the bonus arrive automatically?

Yes. There’s nothing you need to do if you qualify—the payment will be sent automatically to your main current account.

Is this a one-off or an annual reward?

Nationwide has committed to keeping its bonus scheme under review and may continue annual payments if profits allow, but it is not guaranteed every year.

I didn’t receive my bonus—what should I do?

Check your eligibility and contact Nationwide’s customer service if you believe you qualify and did not receive the £100 payment by July 2024.

Conclusion: Nationwide Continues Putting Customers First

The 2024 Nationwide £100 bonus payment is a landmark gesture in the UK’s banking landscape, offering loyal members a valuable thank-you at a crucial economic moment. By sharing its profits, Nationwide further emphasizes its difference from traditional banks and reinforces its reputation as a mutual putting people first. Whether you’re an existing member awaiting your bonus, or considering opening a Nationwide account for future benefits, this scheme cements the society’s position as one of the most customer-focused institutions across Britain.

For more information, check the official Nationwide website or speak to your local branch to see how you can benefit from their ongoing rewards and member-focused initiatives.