Members, who received their payment via a physical cheque, have a strict deadline to cash it in.
What you need to know about Nationwide bonus payments with customers paid £50
What you need to know about Nationwide bonus payments with customers paid £50
- Nationwide has issued a final warning to thousands of customers regarding a £50 bonus payment. These members, who received their payment via a physical cheque, have a strict deadline to cash it in.
- The absolute cut-off date for claiming the free £50 bonus is January 1, 2026. Anyone who fails to redeem their payment by the end of the year will forfeit the money entirely.
- The £50 payment is part of the “Big Nationwide Thank You” initiative for members. This scheme was launched following the building society’s successful acquisition of Virgin Money.
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- Over 12 million members across the UK were eligible to receive the cash bonus. The scheme represents one of the largest member reward programmes ever undertaken by a UK building society.
- The majority of eligible members had their £50 deposited directly into their current or savings accounts. However, a number of customers were instead issued a paper cheque by post.
- The crucial warning is directed specifically at those customers who were sent a paper cheque. These recipients must ensure they pay the cheque into their account before the deadline to secure the money.
- To qualify for the payment, customers needed to hold a Nationwide account on September 30, 2024. They also had to remain customers when the payments were later made.
- A key eligibility requirement involved demonstrating recent account activity. This meant showing activity on their account during the 12 months leading up to the September 2024 cut-off date.
- Specific criteria included having at least £100 across Nationwide accounts or £100 in residential mortgage debt. Customers who completed a qualifying transaction on a current or savings account were also eligible.
- The building society confirmed that all payments have now been issued to members. Therefore, anyone who has misplaced or forgotten about a cheque risks missing out on their bonus entirely.
