Nationwide Building Society has issued an update over bonus payments going out to customers. The savings provider has offered several bonus payments to customers in recent year, including several £100 payments through its Fairer Share Payment. Millions of members were also paid a one-off £50 payment in the Big Nationwide Thank You payment, after the group took on Virgin Money.

Another bonus scheme regularly rolled out by Nationwide is switching offers, where the building society will pay you to switch your current account over to them. The group is currently offering £175 if you’ll move over from a non-Nationwide account to them.

The cash incentive is open when switching from a new or existing FlexDirect, FlexAccount or FlexPlus account. There are several steps to follow and once you’re done, the amount will be paid into your account within 10 working days.

Guidance on the Nationwide website warns that the £175 offer is available for a “limited time only” but it doesn’t mention a final cut-off point. The savings provider was asked if it has a deadline in mind for the scheme.

A spokesperson for Nationwide said: “Nationwide’s £175 switching offer is still live.” The group also referred customers to the terms and conditions for the offer on its website.

To qualify for the bonus, you need to carry out a full switch using the Current Account Switch Service, including closing your old account. You need to switch over at least two active direct debits.

You also have to pay in at least £1,000 and make one debit card payment within 31 days of either opening the account or requesting your switch. Customers may also be wondering if there will be another edition of the Fairer Share Payment this year.

This bonus is where Nationwide shares out its profits with customers. There have been payments the past three years, with £100 paid out each time. Some four million customers received the bonus last year.

You needed a qualifying current account with the provider, as well as either a qualifying savings account or a qualifying mortgage. Asked if there could be another round in 2026, Nationwide said: “Nationwide’s board will decide on a Fairer Share Payment for 2026 and it will depend on our financial performance.

“That assessment will be made after our financial year end, with the eligibility criteria for this year being agreed then too. The decision will be announced as part of our full year results in May.”

Information on the group’s website about the scheme explains: “We’d like to make Fairer Share Payments every year, but it depends on how we perform financially. For any future payments, we may change the eligibility criteria and the amount we pay.”

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