Nationwide Building Society has begun distributing £50 ‘thank you’ bonus payments to over 12 million of its eligible members across the UK. This gesture, part of the Big Nationwide Thank You initiative, started on April 9, 2025, and is scheduled to be completed by May 14, 2025.
The bonus is being awarded as a token of appreciation for customers’ ongoing support and loyalty, following the building society’s successful £2.9 billion acquisition of Virgin Money in late 2024.
According to GB News, the initiative aims to recognize the vital role played by members in enabling the deal’s success and enhancing Nationwide’s position in the banking sector.
Details of the Initiative
The £50 bonus follows Nationwide’s successful £2.9 billion acquisition of Virgin Money, which was completed in October 2024. This acquisition received approval after 90% of Virgin Money shareholders voted in favor of the deal.
The bonus aims to thank customers for their role in helping the building society achieve this milestone. Over £600 million will be paid out as part of this initiative.
Debbie Crosbie, Nationwide’s CEO, stated :
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. It’s another of the very real benefits of being a member of Nationwide and our modern mutual model.
To qualify for the bonus, customers must have been members of Nationwide as of September 30, 2024, and remain members when the payment is made.
Additionally, they must have either made a qualifying transaction or maintained a balance of at least £100 in their current account, savings, or mortgage account during the 12 months leading up to September 2024.
Nationwide has assured customers that the bonus payments will be made automatically to their accounts by April 30, 2025. In cases where direct payment cannot be processed, cheques will be sent by May 14, 2025. These cheques must be deposited before January 2026.
For customers who haven’t received their payment by April 30, Nationwide confirms that all payments will be processed by the end of the month. Customers who cannot receive payments directly into their accounts may receive a cheque in the mail.
This process ensures that no one is left out, even if their account details can’t be updated or accessed directly.
Impact of the Virgin Money Acquisition
The bonus distribution follows the acquisition of Virgin Money, which was completed after a majority of Virgin Money shareholders voted in favor of the deal. Nationwide CEO, Debbie Crosbie, emphasized that the initiative is happening so Nationwide can thank its members “for enabling the successful purchase of Virgin Money,” a transaction that greatly strengthened the company.
Debbie Crosbie also stated :
Nationwide became even stronger when it bought Virgin Money and we are already improving services for its customers – she said.
The Big Nationwide Thank You recognises the role our members played in building the financial strength that made the deal possible.
She added,
It’s another of the very real benefits of being a member of Nationwide and our modern mutual model.
The initiative is designed to thank Nationwide members “for enabling the successful purchase of Virgin Money,” which its members have helped build.
Furthermore, she noted that this is a testament to the success of the mutual model, emphasizing that being a member of Nationwide offers tangible benefits.
