Nationwide Building Society will begin issuing £50 payments to eligible members from Wednesday, 9 April. This initiative, called the Big Nationwide Thank You, aims to reward customers who have helped strengthen the society’s financial position.
The bonus highlights Nationwide’s commitment to its mutual model, benefiting its 12 million members rather than shareholders. While millions of members stand to benefit, not all customers will qualify for the bonus.
Eligibility depends on account activity up to September 2023, and only those with active accounts or mortgages during that time will receive the payment. This initiative follows Nationwide’s acquisition of Virgin Money, reflecting its ongoing strategy to offer direct benefits to its members.
Nationwide Announces Member Bonus Amid Virgin Money Acquisition
Nationwide Building Society has confirmed that payments of £50 will begin landing in eligible customers’ bank accounts from Wednesday, 9 April. The initiative, described as the Big Nationwide Thank You, is intended to recognise long-term members for their role in strengthening the society’s financial position.
The move follows Nationwide’s recent takeover of Virgin Money, which was completed to expand its presence in the UK’s financial sector. As the country’s largest building society, Nationwide has emphasised the significance of its mutual model — owned by its members rather than shareholders — and has framed the bonus as a benefit of this structure.
Not All Customers Will Receive the Bonus Despite Wide Eligibility
While the £50 bonus will reach a large proportion of Nationwide’s 12 million members, several conditions will prevent some customers from qualifying. According to Nationwide, members must have held an eligible current account, savings account, or mortgage with the building society on 30 September 2024.
Furthermore, customers were required to have shown recent account activity — either through at least one transaction or a minimum balance of £100 in any of the eligible products — in the 12 months preceding September.
Accounts deemed dormant, or no longer actively used during that period, will not be included in the payment rollout. In addition, customers must still hold an active Nationwide account or mortgage at the time of the payout in April.
Anyone who has closed their accounts or switched providers since the qualifying date will not be eligible, nor will new customers who joined the society after the cutoff period.
The society’s CEO, Debbie Crosbie, 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.”
