Nationwide Building Society has recently announced its plan to distribute £100 payments to millions of its qualifying members after reporting a significant 30% increase in its annual profits.
This move, part of the bank’s ongoing strategy to reward its customer base, is expected to benefit more than four million of its members. The payout is part of Nationwide’s broader efforts to share the success of the mutual organisation with its members.
According to the Manchester Evening News, this is the third such round of payments since the scheme’s inception, with the bank maintaining its commitment to providing financial benefits to its members.
Nationwide’s Record Profits and Commitment to Its Members
Nationwide’s strong performance in the financial year ending March 31, 2025, was highlighted by a significant increase in pre-tax profits of £2.3 billion, up from £1.8 billion the previous year.
The bank attributes this success to the contributions of its members, who have helped strengthen Nationwide’s financial position. Debbie Crosbie, the Group Chief Executive at Nationwide Building Society, commented on the bank’s remarkable year, stating:
Nationwide has had an outstanding twelve months. We returned a record £2.8 billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances.
This surge in profits is partly thanks to the acquisition of Virgin Money in October 2024, which bolstered Nationwide’s market position, making it the second-largest provider of mortgages and savings in the UK.
According to Crosbie, Virgin Money’s performance since the acquisition has been strong, with improvements in customer service and a return to growth in mortgage lending.
Despite these generous payouts, Nationwide’s underlying pre-tax profits saw a slight dip, dropping from £2 billion to £1.9 billion, as the bank continued its efforts to maintain competitive interest rates for its customers.
Details of the £100 Fairer Share Payments
The £100 Fairer Share payments will be distributed to eligible Nationwide members between June 18 and July 4, 2025. This is the third round of such payouts, which the bank began after reporting strong profits.
Nationwide aims to ensure that its members share in the financial success, with the bank estimating that over four million people will benefit from this initiative. To qualify for the £100 payment, members must meet several eligibility criteria.
You need to be a member of Nationwide with a qualifying current account, and you must also have either qualifying savings or a qualifying mortgage with the bank. The eligibility status is based on your account status as of March 31, 2025.
The bank has also stated that only those with open Nationwide current accounts will receive the payout, and members must have either qualifying savings or a mortgage. Nationwide sent out emails or letters to eligible members by May 30, 2025.
If you haven’t received a notification yet, Nationwide offers an eligibility checker on its website and through online banking, allowing customers to confirm whether they are entitled to the £100 payment.
Additional Member Benefits
Before these £100 Fairer Share payments, Nationwide had already distributed £50 payments to around 12 million customers in April and May 2025. These payments were designed as a thank you to Nationwide members for their ongoing support and loyalty.
The bank has expressed its commitment to maintaining strong relationships with its members, as shown by these generous rewards, while also continuing to offer competitive interest rates.
Nationwide’s Strategic Growth and Future Plans
In addition to its impressive profits, Nationwide’s growth strategy has been further supported by its acquisition of Virgin Money.
This acquisition is expected to provide long-term benefits, including access to new markets and a larger customer base. The first six months after the acquisition have already yielded significant improvements in customer service, and Nationwide is optimistic about the future of Virgin Money under its umbrella.
As for Nationwide’s overall financial strategy, the focus remains on maintaining competitive interest rates while simultaneously rewarding members for their support. This is evident in the ongoing distribution of payments, such as the £50 and £100 payouts, which demonstrate the bank’s commitment to ensuring its members benefit from its success.
Checking Eligibility for the £100 Fairer Share Payments
For those wondering if they qualify for the £100 payout, Nationwide has made it easy to check eligibility. If you have a qualifying current account, qualifying savings, or a qualifying mortgage with Nationwide as of March 31, 2025, you should be one of the members receiving the payment. The bank has sent notifications to eligible members, and anyone who hasn’t received one can check online using Nationwide’s eligibility checker.
