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The Fairer Share scheme is due to be hitting Nationwide accounts in June. The scheme has been providing a free £100 payment to over three million people for the past few years.
To qualify, customers must meet certain criteria such as making eligible transactions during specific periods.
While the 2025 scheme is yet to be announced, if it follows previous trends, the eligibility window may have just closed. In previous years, customers were required to use their current accounts up until March 31.
This included making purchases in shops with a debit card, having direct debits going out, or receiving money such as salaries.
Additionally, customers needed to hold either a mortgage or savings account with Nationwide.
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In these accounts, they were required to have at least £100 in savings or owe at least £100 on a mortgage.
Although Nationwide has not confirmed the scheme’s return this year, experts believe it is likely, according to Birmingham Live.
If the same eligibility criteria are used this year, customers who used their Nationwide current accounts last month could be looking forward to a payday this summer.
The scheme is dependent on Nationwide’s financial position and performance each year, so it’s not guaranteed that the bank will offer it every year.
Some top brass have suggested the Fairer Share scheme might be making a comeback, with hints that there’s “intention” for its return.
An official statement is anticipated on May 29. Should it get the green light, the £100 payment could start hitting accounts by June.
It’s worth noting this scheme is distinct from the complimentary £50 payment the high street bank has been dishing out which was a part of its Big Thank You in the wake of acquiring Virgin Money.