Hey there! Ever thought about getting a little extra cash in your bank account just for being a loyal customer? Well, if you're with Nationwide, you might have already qualified for, or could potentially qualify for, some fantastic bonuses! While the specific £50 "Big Nationwide Thank You" payment for existing members related to their Virgin Money acquisition was a one-off event that primarily occurred in April 2025, Nationwide is well-known for its loyalty bonuses and switching offers. This guide will break down how you might be able to get £50 (or even more!) from Nationwide.
Understanding Nationwide's Bonus Schemes
Nationwide, as a building society, operates differently from traditional banks. It's owned by its members, which often translates into them sharing their profits with customers in the form of competitive rates and, yes, cash bonuses!
There are generally two main ways you could receive a financial boost from Nationwide:
- The "Big Nationwide Thank You" (£50): This was a specific, one-off payment related to Nationwide's acquisition of Virgin Money. Payments for this largely concluded in April-May 2025.
- Fairer Share Payment (Historically £100): This is an annual loyalty bonus where Nationwide shares its profits with eligible members. This is separate from the £50 payment mentioned above.
- Current Account Switching Offers (Often £200 or more): These are incentives to encourage new customers (or existing customers switching another bank's account) to move their main current account to Nationwide.
Let's dive into the specifics of how you might have received the £50, and how you can position yourself for future benefits!
Step 1: Discovering the "Big Nationwide Thank You" (£50) – Were You Eligible?
Alright, let's start with the one that's likely on your mind – the recent £50 payment. Did you get it? If not, did you miss out? Don't worry too much if you did, as there are other ways to benefit from Nationwide.
What was the "Big Nationwide Thank You"?
This was a special, one-time payment of £50 to over 12 million eligible Nationwide members. It was a gesture of appreciation following Nationwide's significant acquisition of Virgin Money in October 2024. This payment was distinct from their annual Fairer Share payment.
Sub-heading: Eligibility Criteria for the £50 "Big Nationwide Thank You"
To have qualified for this particular £50 payment, you generally needed to meet the following conditions:
- Membership Status: You must have been a Nationwide member on September 30, 2024, and still been a member when the payment was made (payments largely happened between April 9th and April 30th, 2025, with cheques sent by May 14th, 2025).
- Account Activity (one of these): In the 12 months leading up to September 30, 2024, you needed to have had:
- At least one qualifying transaction on your Nationwide current account or savings account. This included things like card purchases, withdrawals, deposits, Direct Debits, Standing Orders, and bank transfers. Even transfers between your own Nationwide accounts counted!
- At least £100 in total across one or more of your Nationwide current accounts and savings accounts at any point.
- Owed at least £100 in total on one or more Nationwide residential mortgages.
- Alternatively, you qualified if you completed a full switch to any Nationwide current account using the Current Account Switch Service between July 1, 2024, and September 30, 2024.
Sub-heading: How the £50 Payment was Made
If you were eligible, Nationwide aimed to pay the £50 automatically into one of your accounts.
- If you had a Nationwide current account or an instant/limited access savings account, the money was typically paid directly into that account.
- If you only had a Nationwide mortgage, the payment was made to the bank account used to pay your mortgage Direct Debit (provided it was in your name).
- For those with other Nationwide products, like Cash ISAs, fixed-rate bonds, Child Trust Funds, Junior ISAs, or accounts held in trust, the payment was made by cheque, sent to your registered address.
Self-reflection moment: Did you meet these criteria? If so, check your statements from April/May 2025 for a "Nationwide Big Thank You" payment! If not, don't fret – there are other ways to benefit.
Step 2: Positioning Yourself for Future Nationwide Bonuses (Like the Fairer Share Payment)
While the £50 "Thank You" was a specific event, Nationwide regularly offers its "Fairer Share Payment" and attractive switching incentives. This is where you can actively plan to get some extra cash!
Sub-heading: Understanding the Nationwide Fairer Share Payment
The Fairer Share Payment is Nationwide's way of sharing its profits with its most engaged members. It's an annual bonus, and while the exact eligibility criteria and amount can change year to year, it has historically been a £100 payment. For example, in June 2025, Nationwide started paying out a £100 Fairer Share bonus to eligible members.
Sub-heading: How to Qualify for the Fairer Share Payment (Based on Recent Criteria)
To be eligible for the Fairer Share Payment, you typically need to:
- Be a Nationwide current account holder: You'll usually need to have a FlexAccount, FlexDirect, FlexPlus, FlexOne, FlexStudent, or FlexGraduate account open on a specific date (e.g., March 31, 2025, for the 2025 payment).
- Actively use your current account: This often involves:
- Paying in a minimum amount (e.g., £500) and making a certain number of outgoing payments (e.g., two) in a set number of months (e.g., two of three months).
- Alternatively, making a higher number of outgoing payments (e.g., ten or more) in a set number of months.
- For specific accounts like FlexPlus, paying the monthly fee generally qualifies you.
- For FlexOne, FlexStudent, or FlexGraduate, any payment in or out during the qualifying month might be enough.
- Have a qualifying savings account or mortgage with Nationwide:
- You might need to have a certain balance in a Nationwide savings account or Cash ISA (e.g., at least £100 at the end of any day in March 2025).
- Or, have a Nationwide residential mortgage with a certain amount owed (e.g., at least £100 owed on March 31, 2025).
It's crucial to check Nationwide's official website for the most up-to-date Fairer Share Payment terms and conditions as they are announced annually.
Sub-heading: Actions to Take to Qualify for Future Fairer Share Payments:
- Make Nationwide your main bank: If you don't already, consider making Nationwide the hub for your everyday banking. This increases your chances of meeting the activity criteria.
- Set up Direct Debits: Having regular Direct Debits (e.g., utility bills, subscriptions) coming out of your Nationwide account can help satisfy the "outgoing payments" requirement.
- Use your debit card: Make regular purchases with your Nationwide debit card.
- Maintain a savings balance: If you have some spare cash, keep it in a Nationwide savings account to meet the balance criteria.
- Keep an eye on their announcements: Nationwide typically announces the Fairer Share Payment around May each year, along with the specific eligibility for that year.
Step 3: Exploring Current Account Switching Offers (Potential for £200+!)
While you're aiming for that £50 loyalty bonus (or the £100 Fairer Share), Nationwide often has highly competitive current account switching offers that can give you a much larger cash injection – sometimes £200 or more! These are typically aimed at new customers or existing members who switch an account from another bank.
Sub-heading: What is a Current Account Switch Offer?
These offers incentivise you to use the Current Account Switch Service (CASS) to move your banking relationship entirely to Nationwide. CASS makes it incredibly easy, transferring all your Direct Debits, Standing Orders, and incoming payments automatically.
Sub-heading: Typical Requirements for Nationwide Switching Offers (Example: £200 Offer)
As of recent offers (e.g., a £200 offer in early 2025), you might need to:
- Be a qualifying member: This often means having an eligible mortgage, savings account, or current account with Nationwide by a specific date.
- Complete a full switch: Use the Current Account Switch Service to move an account from another bank to a new or existing FlexPlus, FlexDirect, or FlexAccount with Nationwide. This usually involves closing your old account.
- Transfer Direct Debits: Move over a minimum number of Direct Debits (e.g., at least two).
- Fund your account: Pay in a minimum amount (e.g., £1,000) within a certain timeframe (e.g., 31 days of account opening/switch).
- Make debit card payments: Make at least one debit card payment within the specified period.
- No recent switch bonus: You typically cannot have received a Nationwide current account switch offer since a certain date (e.g., 2021).
Sub-heading: Step-by-Step Guide to Taking Advantage of a Switching Offer:
- Research Current Offers: Regularly check Nationwide's official website or reputable financial news sites for their latest current account switching incentives. Offers are often time-limited, so act quickly when you see one that suits you.
- Check Eligibility: Read the terms and conditions carefully. Ensure you meet all the criteria, including any existing Nationwide membership requirements or past bonus restrictions.
- Choose the Right Account: Decide which Nationwide current account you want to switch to (e.g., FlexDirect, FlexPlus, FlexAccount). Consider the account features, fees (FlexPlus has a monthly fee), and interest rates.
- Initiate the Switch Online or In-App: Most Nationwide switching offers allow you to apply and initiate the switch digitally. Follow their online application process.
- Provide Old Account Details: You'll need details of the current account you're switching from, including the account number and sort code.
- Confirm Direct Debits: Ensure you select at least the required number of Direct Debits to transfer. Don't cancel them yourself; CASS handles this.
- Complete the Switch: The Current Account Switch Service typically completes within 7 working days. You'll be given a guaranteed switch date.
- Fund and Use Your New Account: Once your new Nationwide account is open and the switch is complete, make sure you pay in the required minimum amount and make any necessary debit card payments within the specified timeframe. Set a reminder for this!
- Receive Your Bonus: The bonus payment will usually be made automatically to your new Nationwide account once all conditions are met. Keep an eye on your statements!
Conclusion: Maximising Your Nationwide Rewards
While the specific £50 "Big Nationwide Thank You" was a one-off, Nationwide consistently demonstrates its commitment to its members through various financial incentives. By actively engaging with your Nationwide accounts, meeting eligibility criteria for their annual Fairer Share Payment, and keeping an eye out for their generous current account switching offers, you can absolutely get more than just £50 from Nationwide. It pays to be a member!
10 Related FAQ Questions
How to check if I received the £50 "Big Nationwide Thank You" payment?
You should check your Nationwide current account or instant access savings account statements for a payment made between April 9th and April 30th, 2025, labelled as "Nationwide Big Thank You" or similar. If you were only eligible via a mortgage, check the account used for your Direct Debit. Cheques were sent by May 14th, 2025, for other eligible product holders.
How to qualify for future Fairer Share payments?
To qualify for future Fairer Share payments, you generally need to have an active Nationwide current account and also hold a qualifying savings account or mortgage with them, meeting specific activity and balance criteria that Nationwide announces annually (usually around May).
How to find out the exact eligibility for the next Fairer Share Payment?
Nationwide publishes the precise eligibility criteria for its Fairer Share Payment on its official website, typically in May when they announce the payment. Keep an eye on their "About Us" or "Fairer Share" sections.
How to switch my current account to Nationwide and get a bonus?
To switch and potentially get a bonus, you need to check Nationwide's website for their latest current account switching offers. Generally, you'll need to use the Current Account Switch Service, transfer a minimum number of Direct Debits, pay in a specific amount, and make a debit card payment within set timeframes.
How to use the Current Account Switch Service (CASS)?
When you apply for a new Nationwide current account through a switching offer, you'll typically be given the option to use CASS. You just provide your old bank account details, specify the switch date, and Nationwide handles the transfer of all your Direct Debits, Standing Orders, and closing your old account.
How to know if I'm a "qualifying member" for Nationwide offers?
A "qualifying member" for Nationwide offers often refers to someone who holds a current account, savings account, or mortgage with Nationwide by a specific cutoff date mentioned in the offer's terms and conditions.
How to ensure I meet the account activity criteria for bonuses?
To ensure you meet account activity criteria, aim to regularly use your Nationwide current account for daily spending, set up a few Direct Debits, and ensure there are regular incoming payments to the account, as specified in the bonus terms.
How to avoid missing out on Nationwide bonuses?
The best way to avoid missing out is to regularly check Nationwide's official website and reputable financial news sources for announcements about new bonus schemes or the annual Fairer Share payment. Also, ensure your contact details with Nationwide are up to date.
How to check if Nationwide has a "refer a friend" scheme for a £50 bonus?
Nationwide has historically offered "refer a friend" bonuses, sometimes for £50 or £100 each for the referrer and the friend. However, these schemes are not always active. You'd need to check Nationwide's current offers on their website to see if a "refer a friend" scheme is running.
How to pay in a cheque from Nationwide for a bonus?
If you received a cheque from Nationwide for a bonus (like the £50 "Big Nationwide Thank You" for certain account types), you can pay it into any bank account in your name, not just a Nationwide account. Simply take the cheque to your bank or follow their instructions for depositing cheques (e.g., via a banking app).
