Nationwide confirms £100 payments for 4 million members, check if you qualify before July.

Millions of Nationwide customers are in line for a surprise windfall, with £100 in free cash being deposited directly into their accounts in the coming days.

The payout is part of Nationwide’s Fairer Share initiative, which is returning a staggering £ 410 million to its loyal members. More than 4 million people will benefit, making this one of the largest customer rewards ever dished out by a UK financial institution.

To qualify, you must have held a main Nationwide current account by 31 March 2025 and either have had at least £100 in savings or owed £100 on a mortgage by that date. You also must have actively used your account between January and March.

The payments will land automatically in eligible customers’ accounts between 18 June and 4 July—no action required.

“Nationwide has had an outstanding twelve months,” said Debbie Crosbie, the building society’s chief executive. “We returned a record £ 2.8 billion in value to our members, saw our highest ever year for mortgage lending and retail deposits, and we continue to lead on customer service.”

This marks the third year in a row the lender has issued Fairer Share payments. In 2024, Nationwide paid out £385million to 3.85 million customers, and £ 340 million the year before that. This year’s figure is its most generous yet.

In addition to the £100 payout, Nationwide is also offering a £200 switching bonus for new customers who open an account and sign up to its Member Exclusive Bond. The bond, which launched today, is available online, in branch or via the Banking App to any of the building society’s 16 million existing members.

Savers can earn £762.50 in interest over 18 months if they deposit the maximum £10,000, making it one of the most rewarding fixed-rate bonds currently available to members. That’s over £150 more than the bank’s standard 4% one-year bond would generate.

The £100 Fairer Share payment is separate from a previous £50 reward issued to around 12 million customers between 9 April and 14 May as part of Nationwide’s wider member benefit scheme.

So, how do you know if you’re in line for this latest £100?

You must have:

• A Nationwide current account opened by 31 March 2025
  
• Either £100 in savings or £100 owed on a mortgage with the bank by that date
  
• Actively used your account in the first quarter of 2025
  

Unfortunately, if you don’t already bank with Nationwide, you won’t get this round of payments—but there’s still time to switch and qualify for future offers.

The good news is Nationwide isn’t alone. Rival banks like TSB are also dangling cash incentives. TSB is currently offering £100 to switchers, with an additional £15 monthly cashback if customers use their debit card 20 times a month for six months.

So if you’re looking to make your money go further, it might be time to shop around for banks that reward loyalty—or welcome new customers with open arms and full wallets