Millions of Nationwide customers will get a free £100
Nationwide has confirmed some of its members will receive a Fairer Share Payment next month, as it announced the reward scheme will continue for a fourth year running.
In an update on Thursday morning, May 21, Nationwide said that around 4.4m eligible customers will receive a free £100, with the move “underlining the continued success of its mutual model”.
It comes as Nationwide publishes its full year results and unveils what it calls “a range of member benefits”, including a Member Exclusive Bond and customer current account switching incentive (see Notes to Editors for highlights).
Nationwide said it returned £1.8bn of value to members last year, including £1.4bn delivered through better‐than‐average rates and incentives.
The latest Fairer Share payment, totalling around £440m, will be paid from June 10 to eligible members choosing Nationwide for their everyday banking, in addition to having a qualifying savings account or mortgage.
Dame Debbie Crosbie, Nationwide’s Chief Executive, said: “More people than ever are choosing Nationwide. Our growth in mortgages, retail deposits and personal current accounts is leading the market, which means we can again make a Fairer Share payment to eligible members, and offer a new Member Exclusive Bond to all members.”
Since its launch in 2023, Nationwide has given back approximately £1.5bn to members through Fairer Share. Although Nationwide strives to pay Fairer Share annually, it is not guaranteed and is subject to Board approval.