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Nationwide's £50 Bonus: What You Need to Know
Nationwide Building Society is showering its 12 million customers with a £50 thank-you bonus, a gesture of appreciation following its acquisition of Virgin Money. This isn't just a random giveaway; it's a demonstration of Nationwide's commitment to its members, highlighting the benefits of its mutual model. But who's eligible and how can you get your share of the £50?
Who Gets the £50?
The "Big Nationwide Thank You" isn't open to everyone. To be eligible, you needed to meet specific criteria by September 30, 2024: Hold a Nationwide current account, savings account, or mortgage; demonstrate account activity – at least one transaction, a £100 balance, or a £100 mortgage balance during the 12 months prior to September 30th; and still hold your Nationwide account or mortgage as of April 2025.
When Can I Expect My Payment?
The good news is, most payments are already being made! Nationwide began issuing the £50 on April 9th, 2025. Direct deposits into eligible accounts were prioritized. For those who don't have a suitable account or are receiving a cheque, Nationwide aims to send these out by May 14th, 2025, with a January 1st, 2026 expiration date. Make sure your contact information with Nationwide is up-to-date to avoid delays!
Why the Bonus?
Nationwide CEO Debbie Crosbie explains the bonus as a "thank you" for members' contribution to the society's financial strength, especially after the Virgin Money acquisition. This reinforces Nationwide's mutual model – profits are reinvested or returned to members, rather than shareholders. This reflects a commitment to fairness and rewarding customer loyalty.
What to Do Now?
No action is needed if you're eligible. Nationwide will automatically deposit the money into your account or send a check if required. If you're unsure about your eligibility, check your account statements or contact Nationwide directly via their website or local branch. Don't miss out on this thank-you from your building society!
