Nationwide customers go wild over free £100 payment being paid from this week
Nationwide customers have praised the building society after millions of people started to receive £100 into their bank accounts.
The building society revealed it is handing out new Fairer Share payments after it secured record profits of £2.2billion.
The payments started on Tuesday (June 13) and will continue up until June 30, with 3.4million people set to receive the cash.
If you’re due a payment, it will appear on your bank statement as "Nationwide Fairer Share Payment".
Many rushed to Twitter to thank the building society after receiving the £100 into their accounts.
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One person tweeted: “Thank you @AskNationwide - really appreciate the Fairer Share Payment of £100. Means a lot in the current cost of living crisis.”
Another said: “Thank you for the £100. Much appreciated.”
A third tweeted: “Thank you @AskNationwide for my £100 #FairerSharePayment - we’ve put it towards a well-earned holiday in the sun.”
However, not all Nationwide customers will get the payment as you need to have an eligible current account, plus either a mortgage or savings product with Nationwide.
Current accounts must have been opened on or before March 31, 2023, and still be open in June to receive the cash reward.
Other current account eligibility criteria can be found below, depending on the type of account you have.
Savings accounts will need to have had at least £100 in total in one or more accounts at the end of any day in March 2023.
This can include personal savings accounts and ISAs.
To have a qualifying mortgage, a customer must owe at least £100 on their Nationwide residential mortgage on March 31, 2023.
Current account eligibility criteria
If you have a FlexAccount, FlexBasic or FlexDirect account, you must have paid in or received at least £500 in two of the three months of January, February and March 2023.
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This doesn't include transfers from other Nationwide accounts.
You must also have made at least two payments each month, in two of those three months.
If you switched into your account using the Current Account Switch Service (CASS) between January 1 to March 31, 2023, these requirements do not apply.
FlexPlus account holders must be continuing to pay the monthly account fee to receive the £100 reward.
If you have a FlexOne, FlexStudent or FlexGraduate account, you must have received at least one payment or made one payment during March 2023.
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