Nationwide has confirmed that eligible members will receive a Fairer Share Payment next month, announcing the reward scheme will continue for a fourth consecutive year.
In a statement released on Thursday morning, 21 May, Nationwide revealed that around 4.4m qualifying customers will receive a free £100, with the move “underlining the continued success of its mutual model”.
The announcement coincides with Nationwide publishing its full-year results and unveiling what it describes as “a range of member benefits”, including a Member Exclusive Bond and a customer current account switching incentive.
Nationwide stated it returned £1.8bn of value to members last year, including £1.4bn delivered through better-than-average rates and incentives.
The latest Fairer Share payment, totalling around £440m, will be paid from June 10 to eligible members who use Nationwide for their everyday banking, alongside holding a qualifying savings account or mortgage.
Dame Debbie Crosbie, Nationwide’s Chief Executive, said: “More people than ever are choosing Nationwide. Our growth in mortgages, retail deposits and personal current accounts is leading the market, which means we can again make a Fairer Share payment to eligible members, and offer a new Member Exclusive Bond to all members.”
Since its launch in 2023, Nationwide will have handed back approximately £1.5bn to members through its Fairer Share scheme.
While Nationwide strives to pay out Fairer Share annually, it is not guaranteed and remains subject to Board approval.