Customers with a major high street bank have just days left to claim a free £50 payment with no strings attached.
Totally separate from the many bank switch bonuses which are flying around trying to tempt customers to swap banks for a cash payment, Nationwide is paying out £50 to its existing customers as a thankyou following its acquisition of Virgin Money.
In total, 12 million Nationwide customers will be able to get the £50 payments, but time is rapidly running out to claim the cash if you haven’t yet done so, as the offer ends on January 1.
Customers are eligible for the money if they were a Nationwide customer on September 30, 2024 and are still a customer now.
By the end of September 2024, if you had at least one transaction on a current or savings account, held at least £100 in your current account or owed at least £100 on a Nationwide mortgage, you would be able to claim the money.
Nationwide says it has made the payments, but some were issued by cheque. If you have received a cheque for the payment, it must be paid in by January 1, 2026 or you will miss the payment.
Nationwide said: “On 1 October 2024, we completed the purchase of Virgin Money, becoming an even stronger force in UK banking. This was made possible by the financial strength Nationwide members helped us build.
To say thank you, we’ve given over 12 million of our members £50 each as part of The Big Nationwide Thank You. Over £600 million in total.
“You also met the requirements if you completed a switch to any Nationwide current account. You just had to do so between 1 July 2024 and 30 September 2024 using the Current Account Switch Service.
“Payments have been made into either a current account, instant access or limited access savings account in your name.
“If you have a mortgage with us, we have paid £50 into the bank account used to pay your mortgage Direct Debit – as long as the account is in your name.
“All other payments have been made by cheque. Cheques must be paid in by 1 January 2026 to make sure you don’t miss out on the payment.”
