Nationwide customers to receive £100 in third Fairer Share Payment

Members can also earn an additional £200 with a new, exclusive current account switching deal.

Nationwide BS customers are set to be £100 better off in time for summer after the building society announced it’s rolling out its third Fairer Share Payment from next month.

The mutual has a history of distributing some of its earnings to eligible members; this latest payment comes as it reported pre-tax profits rose to £2.3 billion in the year to 31 March.

“Nationwide has had an outstanding 12 months,” said Debbie Crosbie, Group CEO at Nationwide BS. “We returned a record £2.8 billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances.”

Over four million eligible customers will receive the £100 bonus paid directly into their Nationwide BS current account between 18 June and 4 July. The building society is further rewarding its members with an exclusive £200 current account switching incentive and 18-month fixed bond paying 5.00% AER.

Are you eligible?

In addition to a current account, members will also need to hold a qualifying savings account or mortgage deal with Nationwide BS (as last checked on 31 March) to be eligible for its £100 Fairer Share Payment.

“This will of course perplex customers who have been loyal for many years and may not have realised that they had to meet certain eligibility criteria,” said Rachel Springall, Finance Expert at Moneyfactscompare.co.uk. She encouraged customers to read the terms and conditions carefully, adding that those who feel they should be getting payments “would be wise to contact Nationwide to find out where they stand”.

Importantly, Springall also highlighted that the £100 payment will be treated as taxable savings income and, as such, will be reported to HMRC. “Therefore, savers need to ensure they keep within their Personal Savings Allowance (PSA) for any savings interest they take home,” she added.

Earn an additional £200 by switching current accounts

Meanwhile, qualifying members who don’t already use Nationwide BS for their day-to-day banking could earn an additional £200 by switching from a current account with another provider.

To be eligible, you must have held a Nationwide BS mortgage, savings account or current account as of 31 March 2025 and switch to either a new or existing FlexPlus, FlexDirect or FlexAccount. The move, including at least two Direct Debits, must be made within 28 days.

You must also pay in at least £1,000 and make one debit card payment within 31 days of opening a new account (or applying to switch to an existing account) to receive the cash incentive. However, note that you won’t qualify if you’ve already benefited from a Nationwide BS switching offer since 2021.

Get 5.00% AER on your savings

What’s more, all 16 million Nationwide BS customers (as of 28 May 2025) can access its new Member Exclusive Bonds and earn a fixed rate of 5.00% AER for 18 months on balances between £1 and £10,000.

Its Member Exclusive Online Bond 2025 can be opened and managed using the building society’s internet bank or banking app, while its Member Exclusive Brand Bond operates primarily in branch (but can also be managed via the internet bank or mobile app if registered).

It’s important to note that, outside of a 14-day cancellation window, neither account permits withdrawals during the fixed term. As for adding to your cash, further deposits are only allowed for 14 days from account opening.

Instead, those who want greater flexibility when it comes to adding to and withdrawing from their pot could consider an easy access account. Atom Bank currently offers the market-leading rate in this sector; its Instant Saver Reward pays 4.75% AER in any month you don’t make a withdrawal (although this is a variable rate which could change over time).