Feeling a bit strapped for cash and eyeing up a potential £100 boost? You've come to the right place! Nationwide, being a mutual building society, often shares its profits with its members, and that can sometimes translate into a very welcome cash payment. This isn't a guaranteed, every-year occurrence, but when it happens, it's definitely something to aim for!
This lengthy guide will walk you through the most common ways Nationwide offers financial incentives, specifically focusing on how some members have received a £100 payment. We'll break down the eligibility, the steps, and what you need to keep in mind. Let's get started!
Understanding Nationwide's Member Benefits
Nationwide, as a building society, is owned by its members, not external shareholders. This means they often operate differently from traditional banks, aiming to provide value back to their members. This can manifest in competitive interest rates on savings, good mortgage deals, and sometimes, direct payments like the "Fairer Share Payment."
It's crucial to understand that these offers are not always active, and their terms and conditions can change. The information below is based on recent and recurring patterns. Always check the official Nationwide website for the most up-to-date and specific details.
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| How To Get Free 100 Pound From Nationwide |
Step 1: Are You Already a Nationwide Member?
This is the absolute first question to ask yourself. Nationwide's £100 payments, particularly the "Fairer Share Payment," are typically aimed at their existing, active members.
- If you ARE a Nationwide member: Great! You're already ahead of the curve. Proceed to Step 2 to see if you meet the specific criteria for recent and past payments.
- If you ARE NOT a Nationwide member: Don't despair! While the £100 "Fairer Share Payment" is usually for existing members, Nationwide often has switching offers for new customers that can be even more generous. We'll cover both scenarios.
Step 2: Targeting the "Fairer Share Payment" (£100 for Existing Members)
The "Fairer Share Payment" is Nationwide's way of rewarding its loyal customers. This payment is not a constant offer but rather an annual decision based on the society's financial performance. For 2025, payments have been made or are in the process of being made.
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Sub-heading: Understanding the Eligibility Criteria for Fairer Share
To have been eligible for the recent 2025 £100 Fairer Share payment, you generally needed to meet two key conditions as of a specific date (e.g., March 31, 2025):
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Hold an Eligible Nationwide Current Account:
- This typically includes accounts like FlexAccount, FlexBasic, FlexDirect, FlexOne, FlexStudent, FlexGraduate, or FlexPlus.
- Activity Requirement: For most current accounts (FlexAccount, FlexBasic, FlexDirect), you needed to show active use in two out of three specific months (e.g., January, February, March 2025). This usually meant either:
- Paying in at least £500 AND making two or more outgoing payments, OR
- Making ten or more outgoing payments.
- For accounts like FlexOne, FlexStudent, or FlexGraduate, simply making any payment in or out of the account in a specific month (e.g., March 2025) might have qualified.
- For FlexPlus accounts, simply paying the monthly fee usually counted.
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Hold a Qualifying Savings Account or Mortgage:
- You needed to have had at least £100 in a Nationwide savings account at the end of any day in a specific month (e.g., March 2025), OR
- Owed at least £100 on a Nationwide mortgage on that same specific date (e.g., March 31, 2025).
Sub-heading: Actioning Your Eligibility (for Future Payments)
Since the 2025 Fairer Share payment is largely processed, your focus now is on positioning yourself for any future payments.
- Step 2.1: Maintain Your Nationwide Current Account.
- Ensure your chosen Nationwide current account remains open and active.
- Regularly pay in money (e.g., your salary) and make debit card transactions, Direct Debits, or Standing Orders. Aim to meet the typical "active use" criteria as mentioned above (e.g., £500 in and 2 payments out, or 10+ payments out in at least two out of three months leading up to the eligibility check date).
- Step 2.2: Ensure You Have a Qualifying Savings or Mortgage Product.
- If you don't already, consider opening a Nationwide savings account and keep at least £100 in it. This is often the easiest way to meet this criterion if you don't have a mortgage with them.
- Regularly check your balance to ensure it doesn't dip below the threshold.
- Step 2.3: Stay Informed.
- Keep an eye on Nationwide's official announcements, usually around the time of their annual financial results (typically in May). This is when they often confirm whether a Fairer Share payment will be made and what the eligibility dates will be for the following year.
- Sign up for email alerts from Nationwide and reputable financial news sources in the UK.
Step 3: Exploring the "Switching Bonus" (£200 for New or Switching Members)
If you're not an existing Nationwide member, or you are but you don't use Nationwide as your main bank, you might be eligible for a Current Account Switching Offer. These offers are often more substantial than the Fairer Share Payment and are designed to attract new customers. Recently, Nationwide has offered a £200 switching bonus.
Sub-heading: Who is Eligible for a Switching Bonus?
The switching bonus is typically aimed at:
- New customers who switch their main current account to Nationwide.
- Existing Nationwide members who haven't previously received a switching bonus from Nationwide since a certain date (e.g., January 2020 or 2021), and are switching an external current account into their Nationwide account.
Sub-heading: The Step-by-Step Guide to Getting the Switching Bonus
If you're ready to switch and potentially bag £200, follow these steps carefully:
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- Step 3.1: Choose an Eligible Nationwide Current Account.
- The switching bonus usually applies to their main current accounts: FlexAccount, FlexDirect, or FlexPlus. Consider which account best suits your needs, noting that FlexPlus has a monthly fee.
- Step 3.2: Initiate a Full Switch Using the Current Account Switch Service (CASS).
- This is crucial. You must use the official CASS, which ensures a smooth transfer of your balance, Direct Debits, and Standing Orders from your old bank to Nationwide.
- The switch must be a full switch, meaning your old account will be closed. Partial or manual switches will not qualify.
- You can usually initiate this online via the Nationwide website or banking app when applying for a new account or by requesting a switch into an existing eligible Nationwide account.
- Ensure your switch completes within the specified timeframe (e.g., within 28 or 60 days of application/request).
- Step 3.3: Transfer at Least Two Direct Debits.
- As part of the CASS process, you must move over at least two active Direct Debits from your old account to your new Nationwide account. These must be legitimate Direct Debits (e.g., utility bills, subscriptions), not transfers to other personal accounts.
- Step 3.4: Meet the Funding and Usage Requirements.
- Within a specific timeframe (e.g., 31 days of account opening or switch request), you'll typically need to:
- Pay in a minimum amount: Usually at least £1,000 into your new Nationwide account. This can include money transferred as part of the switch.
- Make at least one debit card payment: This needs to be a qualifying payment (e.g., for goods or services), not a cash withdrawal, gambling transaction, or transfer to another Nationwide account. Contactless, Apple Pay, Google Pay, and Samsung Pay payments usually count.
- Within a specific timeframe (e.g., 31 days of account opening or switch request), you'll typically need to:
- Step 3.5: Receive Your Bonus.
- If you meet all the conditions, Nationwide will usually pay the £200 bonus directly into your new current account within 10 working days of you fulfilling all requirements. The payment will typically appear on your statement as "Switching Offer."
- Important: Ensure your Nationwide account remains open when the payment is due to be made.
Sub-heading: Things to Watch Out For with Switching Offers
- Previous Bonuses: If you've received a Nationwide switching bonus recently (e.g., since 2020 or 2021), you'll likely be excluded from current offers.
- Joint Accounts: If switching to a joint account, only one payment will be made. Check specific terms if you previously received an offer on a sole account and are switching to a joint, or vice-versa, as there might be exceptions.
- Terms and Conditions are Key: Always, always read the full terms and conditions of the specific switching offer at the time you apply. They can change!
Step 4: Other Potential Ways to Benefit (Less Common for £100 Direct Payments)
While the "Fairer Share" and "Switching Bonus" are the most common avenues for significant cash payments, Nationwide occasionally has other promotions.
Sub-heading: Referral Schemes (Currently Not Active for £100 Cash)
Historically, Nationwide has run "refer a friend" schemes where both the referrer and the new customer could receive £100. However, current information suggests that the direct £100 cash referral scheme is not active. While some boat sales companies with "Nationwide" in their name have referral schemes, these are not related to Nationwide Building Society's banking products. Always verify with Nationwide directly if such a scheme is advertised.
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Sub-heading: Member-Exclusive Products and Rates
Nationwide often offers exclusive savings rates or other benefits to its members. While not a direct £100 cash payment, these can translate into significant financial gains over time. For example, they've recently offered a 5% AER Member Exclusive Bond for 18 months. This can effectively give you more than £100 in interest on a reasonable deposit.
- Action: Regularly check the "Member Exclusives" section on Nationwide's website or in their banking app to see what special products or rates are available only to members.
Conclusion: Patience, Diligence, and Staying Informed are Key!
Getting £100 or even £200 "free" from Nationwide isn't about finding a secret loophole. It's about understanding their current offerings, meeting their specific eligibility criteria, and following the steps meticulously.
- For the Fairer Share Payment, focus on being an active and loyal member with both a current account and a savings/mortgage product.
- For the Switching Bonus, be prepared to move your main banking to Nationwide and fulfil all the transfer and usage requirements.
Always remember that these offers are subject to change, so the official Nationwide website is your most reliable source of information.
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10 Related FAQ Questions
How to check my eligibility for the Nationwide Fairer Share Payment?
You can typically check your eligibility for the Fairer Share Payment on the Nationwide website. They often have an online checker where you enter your details to see if you qualify based on their specific criteria for that year's payout. You might also receive an email or letter directly from Nationwide if you're eligible.
How to open a new Nationwide current account?
You can open a new Nationwide current account directly on their website, through their mobile banking app, or by visiting a Nationwide branch. You'll need to provide personal details, proof of identity, and proof of address.
How to switch my current account to Nationwide using CASS?
To switch your current account to Nationwide using the Current Account Switch Service (CASS), you can usually initiate this process when you apply for a new Nationwide account online or within their Internet Bank if you already have an eligible Nationwide account. You'll simply select the option to switch and provide details of your old bank account. Nationwide will then handle the entire process.
How to ensure my Direct Debits transfer correctly during a switch?
The Current Account Switch Service (CASS) is designed to ensure all your Direct Debits and Standing Orders are automatically transferred to your new Nationwide account. You'll receive a guarantee that payments will be redirected for 13 months, and you'll be informed if any issues arise. However, it's always wise to keep a list of your Direct Debits and check them on your new Nationwide statement after the switch is complete.
How to find out about Nationwide's latest bank switching offers?
The best way to find out about Nationwide's latest bank switching offers is to regularly check the "Current Accounts" or "Switching" sections of their official website. Financial news websites and comparison sites in the UK also frequently report on such offers.
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How to qualify for a Nationwide mortgage for Fairer Share eligibility?
To qualify for the Fairer Share Payment through a mortgage, you need to have an active Nationwide mortgage with at least £100 outstanding on a specific eligibility date (e.g., March 31 of the qualifying year). This means simply being a Nationwide mortgage customer often fulfils this criterion.
How to keep my Nationwide account "active" for future bonuses?
To keep your Nationwide current account active for future Fairer Share payments, ensure you regularly pay in money (e.g., your salary) and make at least two outgoing payments, or preferably ten or more debit card transactions, Direct Debits, or Standing Orders, in at least two out of three months leading up to the typical eligibility check period (usually January-March).
How to contact Nationwide for assistance with my account?
You can contact Nationwide for assistance by calling their customer service line (numbers available on their website), using their secure messaging service within the Internet Bank or banking app, or by visiting your local Nationwide branch.
How to manage multiple Nationwide accounts for eligibility?
If you have multiple Nationwide accounts, the eligibility for bonuses like the Fairer Share Payment will often be tied to one qualifying current account and one qualifying savings/mortgage product. For switching bonuses, they typically refer to switching your main external account. Always review the specific terms for each offer, as payments might be made to any of your eligible current accounts.
How to know when Nationwide's Fairer Share Payment will be made?
Nationwide typically announces whether a Fairer Share Payment will be made and the relevant eligibility dates around the time of their annual financial results (usually in May). The payments themselves are then usually made between mid-June and early July. Keep an eye on their official news releases and your account notifications.
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