Nationwide has announced payments will start to be made to eligible members from mid-August of 2025. It is expected to be a few weeks of processing time and will be made through direct deposits to eligible current accounts. Customers can verify eligibility through Nationwide’s online portal, customer support, or by visiting a branch.
Why Payments Are Important At This Moment
During this time, customer’s household savings are being negatively impacted due to the current economic situation, and Nationwide’s Fairer Share payment is offering a boost. Payments of £100 Fairer Share payment are a form of mutual banking and demonstrate the benefits of mutual banking where members’ are prioritized. This payment also serves as recognition of loyalty for payment and banking habits.
Nationwide Building Society is reinstating the payments as appreciation for customer loyalty by issuing the annual £100 Fairer Share payment for 2025. This payment is a form of mutual banking as it seeks to redistribute part of society’s profits and is made available to customers who sustain qualifying accounts and relationships. With 3.4 million customers receiving the payment in 2023, payments are expected to be widely received during economically hard times.
How the Fairer Share Payment Functions
The Fairer Share payment is available due to the mutual model of Nationwide Bank as profits are shared directly with members of the bank instead of external shareholders. It is in essence a profit-sharing reward thanking customers for their loyalty. To qualify for payments, members must possess a specific set of accounts, follow a specific set of simple banking behaviors, and meet certain activity benchmarks. This method not only helps customers, but helps provide additional justification for the mutual banking structure.
Who Qualifies for the £100 Payment
Eligibility for the Fairer Share payment comes down to meeting some criteria with respect to account holding as well as account activity. To begin with, users must possess one of the qualifying current accounts, including FlexPlus, FlexOne, FlexDirect or FlexAccount, which must be over two years old and actively used prior to March 31st, 2025. Additionally, members must also maintain a qualifying savings account with a balance of 100 pounds or a qualifying mortgage with a 100-pound balance as of the same date. Both conditions must be fulfilled to qualify.