Have you heard about Nationwide's "Fairer Share" payment? It's been making headlines, with millions of their customers receiving a £100 bonus! If you're a Nationwide customer, or thinking of becoming one, you might be wondering how you can qualify for this generous payment. It's not a "100% mortgage" in the traditional sense of a mortgage product, but rather a profit-sharing scheme designed to reward loyal members.
Let's dive into the details and see how you can potentially get your hands on this £100.
How to Qualify for the Nationwide £100 Fairer Share Payment: A Step-by-Step Guide
The Nationwide Fairer Share Payment is a fantastic initiative where the building society shares a portion of its profits with its eligible members. This isn't a new mortgage product that lets you borrow 100% of a property's value; instead, it's a bonus payment for existing loyal customers.
Step 1: Are You Already a Nationwide Member? (Engage!)
First things first, let's establish your relationship with Nationwide. Are you currently a Nationwide customer? This is the absolute foundational step. If not, don't worry, we'll cover what you might need to do to become one and potentially qualify for future payments.
The Fairer Share payment is exclusive to Nationwide members. This means you need to have an active relationship with them, generally through a current account, savings account, or mortgage.
Step 2: Understand the Eligibility Criteria for the £100 Bonus
Nationwide has specific rules about who gets the £100 payment. These criteria are usually checked on a specific date each year (for the 2025 payment, it was March 31, 2025). You need to have met all the following conditions by that date:
Sub-heading A: Holding a Qualifying Current Account
This is a crucial element. You must have held a Nationwide current account. The specific activity required on the account depends on the type:
- FlexPlus Account: You simply needed to be paying the monthly fee for this account.
- FlexOne, FlexStudent, or FlexGraduate Accounts: You needed to have received at least one payment into or made one payment out of your account during March 2025. Important Note: Transfers as part of the Current Account Switch Service between January 1 and March 31, 2025, usually do not count towards this activity.
- FlexAccount, FlexDirect, or FlexBasic Accounts: For two out of the three months of January, February, and March 2025, you must have either received £500 or more into the account (excluding internal transfers) and made at least two outgoing payments, or made at least ten outgoing payments in total. Again, switches using the Current Account Switch Service during this period typically don't count.
Sub-heading B: Having a Qualifying Savings Account OR Mortgage
In addition to the current account, you need to meet one of the following:
- 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. Keep in mind that funds in investment accounts, accounts in someone else's name, or other excluded categories generally do not count.
- Qualifying Mortgage: You must have owed at least £100 on your residential mortgage with Nationwide as of March 31, 2025. Mortgages held with subsidiaries like The Mortgage Works or Derbyshire Home Loans typically do not qualify. Also, incomplete mortgage applications as of the eligibility date are usually excluded.
Step 3: Checking Your Eligibility
Nationwide often provides an online eligibility checker on their website. This is the easiest and most reliable way to confirm if you qualify. They also usually notify eligible members via email or letter by a specific date (for 2025, this was by May 30).
It's always a good idea to check your Nationwide online banking or app for any notifications.
Step 4: Receiving Your Payment
If you meet all the criteria, Nationwide will automatically pay the £100 into your Nationwide current account. For the 2025 payment, these payments were made between June 18 and July 4, 2025.
The payment will appear on your statement as 'Nationwide Fairer Share Payment'.
If you hold more than one eligible current account, they will generally pay the money into the most recently opened one, or into a sole name account if you have one. You must have an open Nationwide current account when they try to make the payment.
Step 5: Understanding the Tax Implications
It's important to be aware that the £100 Fairer Share payment is considered a distribution of profits by Nationwide. This means it's treated as interest for UK income tax purposes. Nationwide is not required to deduct tax from the payment, but they will report it to HM Revenue & Customs (HMRC).
Your liability for income tax on this payment depends on whether the total amount of interest you've received in the tax year exceeds your Personal Savings Allowance.
- Basic-rate taxpayers can typically earn up to £1,000 in interest before tax is due.
- Higher-rate taxpayers have a limit of £500.
- Additional-rate taxpayers generally don't get a Personal Savings Allowance.
If you are in any doubt about your tax situation, it's highly recommended to seek independent tax advice or visit the HMRC website for more information.
Step 6: What if You Don't Qualify This Time?
Don't despair if you missed out on this year's payment! Nationwide has been running the Fairer Share scheme for a few years now, and it's based on their financial performance and board approval. To be in with a chance for future payments:
- Become a Nationwide Member: If you're not already, consider opening a Nationwide current account and/or a savings account.
- Maintain Account Activity: Ensure you meet the minimum activity requirements for your chosen account type.
- Keep an Eye on Announcements: Nationwide typically announces the Fairer Share payment and its eligibility criteria in the months leading up to the payment date (often around their financial results announcement). Stay updated through their website, news, or financial publications.
Related FAQ Questions
Here are 10 frequently asked questions about the Nationwide Fairer Share payment, specifically starting with "How to":
How to check if I am eligible for the Nationwide £100 payment?
You can check your eligibility directly on the Nationwide website using their dedicated eligibility checker, or by reviewing any communications (email or letter) they may have sent you regarding the Fairer Share payment.
How to ensure my Nationwide current account qualifies for the bonus?
To ensure your current account qualifies, you need to meet specific activity requirements based on your account type (e.g., FlexPlus, FlexAccount, FlexDirect, FlexOne, FlexStudent, or FlexGraduate) by the specified eligibility date, typically involving a certain number of payments or received funds.
How to make sure my Nationwide savings account qualifies for the bonus?
Your Nationwide savings account qualifies if you had at least £100 in total across one or more personal savings accounts or cash ISAs on any single day in March of the qualifying year.
How to find out if my Nationwide mortgage qualifies for the bonus?
Your Nationwide residential mortgage qualifies if you owed at least £100 on it as of March 31 of the qualifying year. Mortgages with Nationwide subsidiaries (like The Mortgage Works) are generally excluded.
How to receive the £100 Fairer Share payment if I qualify?
If you qualify, the £100 payment will be automatically credited to an open Nationwide current account in your name between the announced payment dates (e.g., June 18 and July 4 for 2025).
How to opt out of receiving the Nationwide Fairer Share payment?
Yes, you can typically opt out of the payment by contacting Nationwide directly in a branch or via phone before a specified deadline (e.g., June 16 for the 2025 payment).
How to understand the tax implications of the £100 bonus?
The £100 payment is treated as interest for UK income tax purposes and will be reported to HMRC. Whether you pay tax on it depends on if your total interest income for the tax year exceeds your Personal Savings Allowance.
How to get the £100 payment if I have a joint Nationwide account?
For joint accounts, the eligibility criteria apply to each account holder individually. If both individuals meet the criteria for their current account and the joint savings/mortgage, both can receive the £100 payment.
How to qualify for future Nationwide Fairer Share payments?
To qualify for future payments, maintain an active Nationwide current account that meets the activity requirements and also hold either a qualifying Nationwide savings account with at least £100 or a Nationwide residential mortgage with at least £100 outstanding.
How to contact Nationwide if I believe I am eligible but haven't received the payment?
If you believe you are eligible but haven't received the payment by the end of the payment period, you should contact Nationwide directly through their customer service channels, such as phone support or by visiting a branch.
