Nationwide to pay £50 bonus to 12 million members: are you eligible?

Nationwide has announced that more than 12 million customers will each receive a £50 payment under its new 'Big Nationwide Thank You' initiative. 

The building society says the bonus is to recognise the role its members played in enabling its recent purchase of Virgin Money.

Read on for information on which customers are eligible, and to find out how Nationwide ranks in our customer service surveys. 

Who will get the bonus?

Nationwide completed its takeover of Virgin Money last October and is now offering eligible customers a £50 bonus as a thank-you.

To qualify, you'll need to have held an account with Nationwide in September 2024 and still have it now.

Additionally, you'll need to have made at least one transaction on your account between October 2023 and September 2024, or have a balance of at least £100. 

You can use Nationwide's eligibility checker to see if you qualify for the payment. 

Nationwide has also released data on the geographical split of its qualifying members. The most – 2.4 million – are based in the South East of England, while the fewest – 284,000  – are in the North East. 

When will you receive the payment?

How and when you'll receive the payment will vary depending on the financial products you hold with Nationwide. 

Members with a Nationwide current account or instant/limited-access savings account will have the money paid into their account by the end of April, with payments starting on 9 April.

Nationwide mortgage holders will have the cash bonus paid into the current account used for their mortgage payments. If this isn’t possible, a cheque will be issued by 14 May.

Isa and bond members will also receive a cheque by 14 May. 

Will Nationwide pay its Fairer Share bonus this year?

This payment is separate to Nationwide's Fairer Share bonus, which it has paid in each of the past two years. 

Last June, the building society paid a £100 bonus to 3.9 million customers after making profits of more than £2bn. 

It says it is aiming to repeat the bonus this year, but that this will depend on its financial performance. 

A final decision will be made in May, alongside the release of Nationwide's annual financial results.

• Find out more: best bank and bank accounts 2025

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How does Nationwide compare for customer service?

Nationwide performs well for customer service across the various financial products Which? analyses. 

In our latest analysis of current accounts, savings accounts and mortgages, it received four stars out of five for customer service across each product area.

Nationwide’s results in our latest mortgage analysis stood out, with it qualifying as a Which? Recommended Provider based on its service and competitive rates. 

It also received four stars for customer service in our latest credit card analysis – with the caveat that its credit cards are only available to existing customers. 

• Find out more: best mortgage lenders

Should you switch to Nationwide?

You can't switch to Nationwide now and get the £50 bonus, but you may be eligible for the building society's £175 current account switching offer. 

The deal is available until 31 March and is open to new customers who haven’t previously received a switching reward or held a Nationwide current account since 18 August 2021. 

Nationwide current account customers have access to a regular savings account, the Flex Regular Saver, which offers 6.5% AER – one of the most competitive interest rates available.

However, unlike our other top-rated providers, Nationwide doesn't offer a free current account with fee-free spending abroad.