What Nationwide customers need to get £100 direct to bank accounts next year – don't miss out

Yesterday at 10:20 AM

NATIONWIDE customers are set to receive £100 as part of its Fairer Share scheme next year.

The building society’s chief executive dropped hints about reissuing the payment in recent weeks.

The potential good news comes after Nationwide received a £2.3billion windfall from its £2.9billion takeover of Virgin Money in October.

Debbie Crosbie announced that the bank is “well positioned” to dish out the £100 payment, but customers need to check they will meet the criteria.

This June, the bank paid £385million in £100 to 3.85million members after announcing a pre-tax profit of £1.77billion.

This year’s little treat could be even heftier as in 2023 the bank paid out £344million to 3.44 million members.

However, more than 12million missed out on the £100 in the summer due to the bank’s strict eligibility criteria.

If it’s the same as this year, Nationwide customers will need to have a current account and either £100 in a Nationwide savings account or Isa in March 2024 or owe at least £100 on a Nationwide mortgage on March 31 2024.

The eligible current accounts are: FlexPlus, FlexOne, FlexStudent, FlexGraduate, FlexAccount, FlexDirect or FlexBasic.

If you hold one of the FlexAccount, FlexDirect or FlexBasic accounts, you would have needed to receive at least £500 into your current account.

Transfers from other Nationwide accounts don’t count and you will also need to have made at least two payments from the account.

For those who did not meet those conditions, there is a way around it.

If you have made at least 10 payments out of the current account in two out of three months of January, February or March 2024, you could also qualify.

Nationwide is also offering a £175 bonus to new customers who switch to one of its current accounts.