Natiowide Building Society announced the massive giveaway earlier this year and has confirmed that payments will start arriving from this Wednesday. The UK’s largest building society said the £50 bonus was its way of giving members a thank-you bonus for supporting its takeover of Virgin Money.
The building society has set out the terms of who will get bonus payments with money will go to those who had a savings or current account, or mortgage, at the end of last September, however not everyone will qualify.
Money will go to those who had a savings or current account, or mortgage, at the end of last September.
Crucially, they must have made at least one transaction on their current account or savings, or had a balance of at least £100 in their current account, savings or mortgage in the 12 months to the end of September 2024.
This essentially means accounts had to be active and being used in that period to September last year so those with dormant accounts no longer being used will not be included.
In addition, customers must still have their accounts or mortgage at the time the payment is made during April.
So anyone who has quit Nationwide over the last few months will miss out, as will new customers who have joined in recent weeks and months.
Debbie Crosbie, Nationwide CEO, said: “Nationwide became even stronger when it bought Virgin Money and we are already improving services for its customers.
“The Big Nationwide Thank You recognises the role our members played in building the financial strength that made the deal possible.
“It’s another of the very real benefits of being a member of Nationwide and our modern mutual model.”
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