Nationwide responds to outcry over payment amounts as 'some customers get double'

Nationwide Building Society has addressed concerns over an apparent discrepancy in the one-off payments going out to millions of its customers. The society has begun distributing a £50 thank-you payment to around 12 million members, as a gesture of thanks following its acquisition of Virgin Money.

However, some customers have raised concerns that others appear to be receiving double this amount. One member contacted Nationwide via social media to express their dissatisfaction, saying: "I see that some of us have only got £50 bonuses in our accounts, but now you are issuing £100 bonuses to customers. This is very unfair to some customers."

In response, Nationwide explained that the £50 thank-you payments were in addition to the "in addition to the Fairer Share Payment we made last year", which was a separate £100 payment made in June 2024 as the society shared profits with its community. Nationwide also said: "We would like to make another Fairer Share Payment this year, but this will depend on how we perform financially. We'll announce our decision when we publish our results for the 2024/25 financial year."

Despite this explanation, the individual remained dissatisfied, pointing out that they had only received £50 in the latest round of payments, while others had been given £100. Clearing up the confusion, Nationwide said: "The Big Nationwide Thank You payment is £50 per person, if a joint account was eligible then each account holder will have received £50."

To be eligible for this cash bonus, customers must have been members as of September 30, 2024, and must still be members at the time the payment is issued.

Other rules to note are that in the 12 months to the end of September 2024, you must have had either:

• At least one qualifying transaction on your Nationwide current account or savings account
• At least £100 in total in one or more of your Nationwide current accounts and savings accounts
• Owed at least £100 in total on one or more Nationwide residential mortgages.

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Nationwide has started sending out the cash payments. If you have a current account, instant access or limited access savings account with Nationwide, you should receive the payment by April 30. For those with a mortgage from Nationwide, the money will be credited to the account from which your mortgage direct debit is taken, with the expectation that it will arrive by April 30.

All other members should look out for cheques, which will be dispatched by May 14. It's important to note that these cheques must be cashed by January 1, 2026.