Nationwide Building Society has confirmed that millions of customers will receive a £100 bonus this month as part of its ongoing “Big Thank You” initiative. The payout, which includes two £50 payments, is being credited to certain accounts in April, marking a generous follow-up to a similar bonus scheme last year. According to Coventry Live, this initiative is intended to reward loyal members and reinforce the society’s mutual status, where profits are shared with members rather than external shareholders.
Who Is Eligible for the £100 Bonus?
The bonus will be paid automatically to members who meet specific eligibility criteria. To qualify, customers must have held a Nationwide current account on March 31, 2024, and maintained either £100 in savings or a Nationwide mortgage on that date. Members don’t need to take any action—payments will be made directly into qualifying accounts throughout April.
This is part of Nationwide’s broader strategy to give back to members who have continued to support the society through challenging economic periods. Last year, a similar bonus saw £340 million distributed across member accounts, with this year’s initiative likely to deliver comparable figures.
Why Is Nationwide Issuing These Bonuses?
The double £50 payments form part of Nationwide’s “Fairer Share” scheme, designed to reward members for their continued support and engagement with the building society’s services. Unlike traditional banks, Nationwide operates as a mutual organisation, meaning it is owned by its members, not shareholders. This structure allows it to reinvest profits directly into its member base, rather than paying dividends to external investors.
These cash bonuses are part of that reinvestment. The initiative acknowledges customers who actively use Nationwide products—such as current accounts, savings, and mortgages—and contributes to building long-term financial relationships. According to Nationwide, this approach aligns with its goal of supporting members during financially challenging times, such as those marked by high inflation and rising interest rates.
