Nationwide has revealed its upcoming series of £100 Fairer Share payments, with 4.4 million members slated to receive the bonus. This marks the fourth consecutive year that Nationwide is distributing these payments, as confirmed in the latest financial results.

To qualify for the payment, individuals must hold a qualifying current account along with a savings account or mortgage with Nationwide. For FlexAccount, FlexDirect, or FlexBasic account holders, eligibility requires receiving £500 into the account in two of the months of January, February, and March, and making at least two outbound payments.

Individuals who have made at least ten transactions from their current account in two of the mentioned months or switched to Nationwide using the Current Account Switch Service between January and March also qualify. FlexOne, FlexStudent, and FlexGraduate account holders must have conducted at least one transaction in March unless they completed an account switch during the specified period.

FlexPlus customers are eligible for the £100 bonus by paying the £18 monthly fee. For savings accounts, a minimum balance of £100 at the end of a day in March is required, while mortgage customers need to have at least £100 outstanding by the end of March.

The payments will be deposited into Nationwide accounts automatically from June 10 for those who meet the criteria. Although the money is considered savings for tax purposes, individuals can earn up to £1,000 in savings interest annually before being subject to taxation.

Dame Debbie Crosbie, Nationwide’s Chief Executive, expressed satisfaction with the increasing customer base, enabling the society to extend Fairer Share payments and introduce a new Member Exclusive Bond offer. Last year, Nationwide disbursed £400 million to over four million customers, totaling £1.5 billion since the initiative’s inception in 2023.