Nationwide Building Society is giving millions of its members a bonus payment this year. This comes after the society’s major purchase of Virgin Money in October 2024, making it an even bigger name in UK banking.
Over 12 million Nationwide members will receive a 50 euro payment each as part of ” The Big Nationwide Thank You” initiative. In total, more than 600 million euros will be shared with members across the country.
The payment is a way for Nationwide to thank its members for helping society grow and for supporting the acquisition of Virgin Money.
To qualify for the 50 euro bonus, members must have held a Nationwide current account, savings account or mortgage as of September 30, 2024.
They also needed to have made at least one transaction or held at least 100 euros in their account during the 12 months leading up to September 2024. Members must still have an active account or mortgage at the time of payment.
Most members will have the 50 euros paid directly into their bank or savings account by April 30, 2025. If a member does not have a suitable account, a cheque will be sent by post and should arrive by May 14, 2025.
For those with a mortgage, the payment will go into the bank account used for their mortgage direct debit, as long as the account is in their name.
Debbie Crosbie, Nationwide’s chief executive, said the payment is a show of appreciation for members’ role in building the society’s financial strength.
She explained that the society became stronger after buying Virgin Money and is already working to improve services for its customers. She said, ” The Big Nationwide Thank You campaign recognises the role our members played in making the deal possible.”
This 50 euros payment is separate from Nationwide’s ” Fairer Share Payment” scheme. Last year, nearly four million members received a 100 euro bonus through the Fairer Share Payment.
This scheme rewards members who use Nationwide for their everyday banking and also have savings or a mortgage with the society.
Nationwide has announced that it hopes to make another Fairer Share Payment in 2025. The decision will be made public on May 29, 2025, when the society releases its full-year financial results.
The amount and eligibility criteria for the 2025 Fairer Share Payments have not yet been confirmed and will depend on Nationwide’s financial performance. In previous years, eligible members received 100 euros each, usually in June.
Although Nationwide members are set to benefit from two major bonus schemes: the 50 euros ” Big Nationwide Thank You” payment this spring and a possible Fairer Share Payment later in the year.
Both schemes highlight Nationwide’s commitment to sharing profits with its members and rewarding their loyalty.
