Becoming eligible for Nationwide's Fairer Share Payment, often referred to as the "Nationwide £100," is a fantastic way to benefit from being a member of one of the UK's largest building societies. Unlike traditional banks that distribute profits to shareholders, Nationwide, being a mutual organization, aims to share its success directly with its members. This means if you meet certain criteria, you could receive a £100 bonus!
Are you curious about how to get your hands on this fantastic bonus? Let's dive into a comprehensive, step-by-step guide to ensure you're in the best position to qualify for the Nationwide £100.
Step 1: Are You Already a Nationwide Member? - The Crucial Starting Point!
This is where it all begins! Before you even think about eligibility criteria, the first question to ask yourself is: Do I have an account with Nationwide?
If the answer is yes, then you're already on the right track! Skip ahead to Step 2.
If the answer is no, don't despair! It's not too late. To be considered for the Fairer Share Payment, you must be a Nationwide member. This typically means having a current account, savings account, or a mortgage with them. If you don't have any of these, your first move should be to open a qualifying account.
Sub-heading: Choosing the Right Nationwide Account
Nationwide offers a variety of accounts, and for the Fairer Share Payment, a current account is usually a primary requirement. Here are some popular options you might consider:
- FlexAccount: A standard everyday current account with no monthly fee.
- FlexDirect: Offers interest on balances and an interest-free arranged overdraft for the first 12 months (conditions apply).
- FlexPlus: A packaged bank account with a monthly fee, offering various benefits like worldwide travel insurance and mobile phone insurance.
- FlexOne (for under 18s), FlexStudent, or FlexGraduate: Accounts tailored for younger individuals and students.
Pro-Tip: Consider their switching offer! Nationwide often has attractive incentives (like an additional £200) for new customers who switch their current account to them using the Current Account Switch Service (CASS). This could be a great way to become a member and potentially get an even larger bonus!
Tip: A slow, careful read can save re-reading later.
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| How To Be Eligible For Nationwide 100 |
Step 2: Understanding the Eligibility Snapshot - The 31st of March Deadline
Nationwide assesses eligibility for the Fairer Share Payment based on your account activity and balances on a specific date, which for the 2025 payment was March 31, 2025. This means your accounts and activity up to and including this date are what determine your eligibility. So, if you're reading this after March 31, 2025, for the current year's payment, you've missed the snapshot, but you can definitely prepare for future payments!
Step 3: Meeting the Current Account Activity Requirements
Simply having a Nationwide current account isn't always enough. You need to demonstrate active usage. The specific requirements vary slightly depending on the type of current account you hold:
Sub-heading: FlexAccount, FlexDirect, or FlexBasic Holders
For these popular accounts, you generally need to meet one of two conditions in two out of the three months of January, February, and March 2025:
- Option A: Regular Income and Payments Out
- You must have received at least £500 or more into your current account (excluding internal transfers between your Nationwide accounts).
- AND you must have made at least two outgoing payments from your current account.
- Option B: Frequent Outgoing Payments
- You must have made at least ten or more outgoing payments in total from your current account.
What counts as an "outgoing payment"? This typically includes debit card transactions, Direct Debits, standing orders, and bank transfers to external accounts. Transfers between your own Nationwide accounts usually do not count.
Sub-heading: FlexOne, FlexStudent, or FlexGraduate Holders
The requirements for these accounts are often simpler:
Tip: Don’t overthink — just keep reading.
- You must have received at least one payment in or made one payment out of your account during March 2025.
- Note: Any charges, interest, or balance adjustments typically do not count as qualifying payments.
Sub-heading: FlexPlus Holders
If you have a FlexPlus account, the criteria are usually the most straightforward:
- You simply need to be paying the monthly fee for maintaining the account.
Sub-heading: Current Account Switch Service (CASS) Exception
Good news for switchers! If you completed a full current account switch to any qualifying Nationwide current account using the Current Account Switch Service between January 1, 2025, and March 31, 2025, you generally do not need to meet the specific in/out payment criteria mentioned above for your account type. The act of switching itself satisfies the current account usage requirement for that period.
Step 4: Fulfilling the Savings or Mortgage Criteria
Beyond your current account activity, you also need to hold another qualifying product with Nationwide. This is where your savings or mortgage come into play. You need to meet one of the following conditions as of March 31, 2025:
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Sub-heading: Qualifying Savings
- You must have had at least £100 in total across one or more personal savings accounts or Cash ISAs with Nationwide on any single day in March 2025.
- This is generally quite easy to achieve by simply ensuring you have at least this amount in a Nationwide savings product during that month.
Sub-heading: Qualifying Mortgage
QuickTip: Read again with fresh eyes.
- You must have owed at least £100 on your Nationwide residential mortgage as of March 31, 2025.
Step 5: Maintaining Your Nationwide Accounts Until Payment
Even if you meet all the eligibility criteria on the snapshot date, it's crucial to keep your qualifying Nationwide current account open until the payment is made. Nationwide will directly transfer the £100 bonus into an open Nationwide current account. If you close your account before the payment, you will likely forfeit the bonus. Payments are typically made between mid-June and early July.
Step 6: Confirmation and Payment - What to Expect
If you are eligible, Nationwide typically notifies members by email or letter, usually by the end of May. The payment itself will then be deposited directly into your Nationwide current account. It will usually appear on your statement as "Nationwide Fairer Share Payment."
Important Note on Joint Accounts: If you have a joint account and both account holders meet the individual eligibility criteria, each person will receive a separate £100 payment.
Step 7: Tax Implications - A Quick Heads-Up
The Nationwide Fairer Share payment is generally considered savings income for tax purposes. This means it counts towards your Personal Savings Allowance.
- Basic-rate taxpayers typically have a £1,000 Personal Savings Allowance, meaning they can earn up to £1,000 in interest/savings income before tax is due.
- Higher-rate taxpayers have a £500 allowance.
- Additional-rate taxpayers have no allowance.
For most people, Nationwide will report the bonus to HMRC automatically, so you won't need to do anything extra unless you file self-assessment tax returns. If you do self-assessment, you will need to include this payment in your return.
Frequently Asked Questions (FAQs) - Nationwide £100 Fairer Share Payment
Here are 10 common questions about the Nationwide £100 bonus, with quick answers:
How to check my eligibility for the Nationwide £100? Nationwide typically has an online eligibility checker on their website. They also send emails or letters to eligible members.
QuickTip: Focus on one line if it feels important.
How to ensure I receive the Nationwide £100 payment? Make sure your Nationwide current account is open and active, and that your contact details are up to date with Nationwide. No application is needed.
How to qualify if I just opened a Nationwide account? If you opened an account and completed a full switch using the Current Account Switch Service between January 1 and March 31 of the qualifying year, you may automatically meet the current account activity criteria. You still need a qualifying savings or mortgage product.
How to count outgoing payments for eligibility? Outgoing payments include debit card transactions, Direct Debits, standing orders, and transfers to accounts outside Nationwide. Transfers between your own Nationwide accounts usually do not count.
How to know if my savings account qualifies for the £100? Any personal savings account or Cash ISA with Nationwide holding at least £100 on any single day in March of the qualifying year usually counts.
How to receive the payment if I have a joint account? If both individuals on a joint account meet the eligibility criteria, each individual will receive a separate £100 payment.
How to track when the Nationwide £100 will be paid? Payments are generally made between mid-June and early July. It will appear on your statement as "Nationwide Fairer Share Payment."
How to deal with the tax on the Nationwide £100? The £100 is considered savings income and counts towards your Personal Savings Allowance. Nationwide usually reports this to HMRC, so most people won't need to do anything unless they file self-assessment.
How to find out if the Nationwide £100 will be paid next year? The Fairer Share payment is subject to Nationwide's financial strength and board approval each year, so it's not guaranteed annually, though it has been paid for several consecutive years.
How to contact Nationwide if I believe I'm eligible but haven't received the payment? You can contact Nationwide through their banking app, internet bank, by phone, or by visiting a branch to inquire about your eligibility and payment status.
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