Nationwide £100 fairer share cash payout: Money begins hitting banking customer accounts - who's eligible

Some banking customers are celebrating today after £100 dropped into their accounts. Those eligible for this year’s Nationwide Fairer Share Payment have begun receiving their bonus cash from Wednesday (June 18), causing an outpouring of love for the building society.

For the third year running, the scheme has paid out the cash as a thank you to customers with more than 4 million of their members receiving the extra cash. Nationwide says it has paid out over £1 billion to eligible members since 2023.

To be eligible, customers must have held a qualifying current account with Nationwide along with a qualifying savings or qualifying mortgage account no later than March 31 this year. And the accounts will still need to be open now for Nationwide to be able to pay in the £100, which will be paid into accounts between June 18 and July 4.

For those waiting for their money, it should arrive into your Nationwide current account - if you have more than one it could land in any one of them - and it will drop into an account in a sole name if available, or a joint account if not.

A spokesperson for Nationwide offered a warning for customers to beware of scammers. They said: “We will never ask you for any account details. If you receive any phone calls or emails asking you for your account details, treat them as a scam.”

As people were alerted to their upturn in fortunes this morning - having been alerted by text or via the banking app - they have flooded social media with gratitude. One happy recipient wrote: “Why thank you, building society gods! I’ve had £250 from these guys in just over a year, worth a look if you’re changing banks!”

Another said: “Thank you Nationwide for saying thank you to us. You picked the perfect time.” While one, referencing the message they were sent earlier today, added: “The sort of text I like to receive. Thank you Nationwide the best bank.”

Earlier this year, Nationwide paid £50 to more than 12 million customers, which it described as a “thank you” following the purchase of Virgin Money last year. The business spent more than £600 million on the move, which it called the “big Nationwide thank you”.

In March, the company said the buyout made it “an even stronger force in UK banking”. They said: “This was made possible by the financial strength Nationwide members helped us build.”

Nationwide said in November that Virgin Money, which it bought the previous month, was worth more than the £2.8 billion takeover price. At the time of the deal, chief executive Debbie Crosbie said the benefits would go towards improvements for customers.

Following the buyout, the biggest banking deal since the financial crisis, Nationwide became the country’s second largest provider of mortgages and savings accounts. When it bought the lender, Nationwide also paused Virgin Money’s plans to close some of its branches, as part of a promise not to leave any town or city where there is currently a branch until at least 2028.

Debbie Crosbie, Nationwide chief executive, said: “Nationwide became even stronger when it bought Virgin Money and we are already improving services for its customers. The Big Nationwide Thank You recognises the role our members played in building the financial strength that made the deal possible.”