Nationwide confirms date £50 bonus will land in accounts: Are you eligible?

Over 12 million Nationwide members are preparing to receive a £50 payment this month, as the building society confirms the distribution date. This significant payout, part of the ‘Big Nationwide Thank You’ initiative following the Virgin Money acquisition last year, will see Britain’s largest mutual distribute over £600 million to its qualifying customers. Eligible Nationwide members are expected to receive this bonus directly into their accounts.

Nationwide £50 Payment Confirmed for April: Check If You’re Eligible

Britain’s largest mutual is set to distribute more than £600 million to its members, issuing the ‘Big Nationwide Thank You’ payment after its acquisition of Virgin Money in the previous year.

Qualifying members will have the £50 payment deposited directly into their Nationwide current or savings account.

Initially, Nationwide announced that all bonus payments would be processed between April 9th and May 14th.

However, the building society has now verified that eligible members will receive their £50 payments by April 30th, provided the payment can be made to a Nationwide bank or savings account.

For cases where direct account payment isn’t possible, payments will be issued via cheque, potentially arriving as late as May 14th.

Members with a Nationwide mortgage may also receive the £50 bonus in the bank account linked to their direct debit mortgage payments, provided the account is held in their name.

These payments are also scheduled to arrive by April 30th.

Eligibility Criteria for the £50 Payment

These payments will be allocated to over 12 million members who maintained a savings, current account, or mortgage with Nationwide as of the end of September 2024.

To qualify for the £50 bonus, members must have also conducted at least one transaction on their current or savings account, or maintained a minimum balance of £100 across their current account, savings, or mortgage within the 12 months leading up to September 2024.

Furthermore, members must still hold their accounts or mortgage at the time the payment is processed to be eligible.

Nationwide reports that 19.4% of these payments are designated for eligible members residing in the South East of England.

Approximately 11.6% will be directed to individuals in London, while 2.3% of the £12 million allocation is intended for residents in the North East, according to Nationwide.

In the prior year, Nationwide distributed £3.85 million to 3.85 million members through its £100 Fairer Share scheme.

This £50 bonus is distinct from Nationwide’s 2025 Fairer Share Scheme, which they anticipate announcing in May, contingent on financial performance.

Millions more Nationwide members could potentially receive an additional £100 payment if Nationwide unveils another Fairer Share bonus, supplementing the current £50 Thank You payment.