Nationwide has issued an update to customers today confirming when they are to be paid a £50 ‘thank you’. The money is being sent out because the building society completed the purchase of Virgin Money.
It has pledged to pay 12 million of its members £50 each as part of ‘The Big Nationwide Thank You’. This amounts to over £600 million in total.
Many people have been taking to X to ask Nationwide when the money is being paid – and now it has confirmed the dates.John said: “@AskNationwide hi what date will i receive the £50 payment from yourselves this month?”
Lauren added: “@AskNationwide hi, When will mortgage customers receive their Fairer Share payment please?” Meanwhile Jennifer said: “Anyone else just patiently waiting for their £50 from @AskNationwide wish they hadn’t told us until the week it’s due to go in , it would really help me out right now and the waiting is driving me crazy.”
Nationwide has now said that it should arrive in accounts by the end of this month.
It said: “If we can pay the money into a current account, instant access or limited access savings account in your name, we will do so. The payment should arrive by 30 April 2025. If we can’t, and you have a mortgage with us, we will pay £50 into the bank account used to pay your mortgage Direct Debit. As long as the account is in your name, the payment should arrive by 30 April 2025.
“All other payments will be made by cheque. Cheques will be sent by 14 May 2025. They must be paid in by 1 January 2026 to make sure you don’t miss out on the payment.”
How do members qualify for the payment?
A person must have been a Nationwide member on 30 September 2024. And still be a member when they come to make the payment.
In the 12 months to the end of September 2024, members must also have:
- had at least one qualifying transaction on your Nationwide current account or savings account, or
- had at least £100 in total in one or more of your Nationwide current accounts and savings accounts, or
- owed at least £100 in total on one or more Nationwide residential mortgages.
How does the £50 get paid?
If Nationwide can pay the money into a current account, instant access or limited access savings account in your name, it will do so. The payment should arrive by 30 April 2025.
If the building society can’t, and the person has a mortgage with them, it will pay £50 into the bank account used to pay the mortgage Direct Debit. As long as the account is in the person’s name, the payment should arrive by 30 April 2025.
All other payments will be made by cheque. Cheques will be sent by 14 May 2025. They must be paid in by 1 January 2026 to make sure you don’t miss out on the payment.
