Nationwide Bonus Payment: The payment timeline for Nationwide Building Society’s £50 Big Nationwide Thank You to 12 million clients after Virgin Money’s takeover has been confirmed. Three important dates were provided by the building society in response to a customer’s question regarding payment timing. Mortgages, savings accounts, and current accounts will all receive payments by April 30, 2025. The checks will be dispatched by May 14, 2025.
Nationwide Building Society has sent an update in order to confirm some important dates for when customers will receive a £50 payment. Following the group’s successful acquisition of Virgin Money, 12 million customers will receive the £50 Big Nationwide Thank You.
A customer contacted the building society over social media to ask: “When do we get the £50 payment from the Virgin deal, could it be any random date between now and April 30?”
In response, the group set out three key dates for when the payments will go out. Nationwide said: “We plan to make payments to the current account, instant access savings account, and limited access savings account by April 30, 2025. Mortgage payments will also be made by April 30, 2025. We plan to send cheques by May 14, 2025.”
The payment will be deposited into your Nationwide current account, limited access savings account, or instant access savings account if you have one in your name.
The £50 will be deposited into the bank account you use for mortgage direct debit if you don’t have one of these accounts and have a Nationwide mortgage.
Checks will be used for any other payments, which must be received by January 1, 2026. You must have been a Nationwide member on September 30, 2024, and you must still be a member at the time the monies are distributed in order to be eligible.
In addition, you must have fulfilled the following requirements in the 12 months leading up to September 2024:
- Your Nationwide savings or current account must have at least one qualifying transaction.
- A minimum of £100 in total across one or more of your Nationwide savings and current accounts.
- Owed one or more Nationwide household mortgages a total of at least £100.
Additionally, you will qualify if you used the Current Account convert Service to convert to any Nationwide current account between July 1, 2024 and September 30, 2024
You typically need to have a Nationwide residential mortgage, a current account, or a savings account in your name in order to be considered a member.
If you merely have another kind of Nationwide product, like a credit card, insurance, investment, or personal loan, you wouldn’t be considered a member.
Additionally, if an individual is solely managing an account in another person’s name, such as through a power of attorney, a third-party mandate, or a court order, they would not be considered members.
If the mortgage holder does not have these accounts, the £59 will be deposited into the bank account that is used for the direct debit of their mortgage. This comes after Nationwide’s acquisition of Virgin Money was completed.
Nationwide stated: “We plan to send cheques by May 14, 2025.”
