Nationwide is encouraging millions of its customers to verify their eligibility for a £50 payout, introduced as a goodwill gesture after the society acquired Virgin Money.
The building society is reaching out to around 12 million of its members with what it describes as a “thank you” payment — a gesture to reward loyalty and long-standing commitment.
If you’re wondering whether you qualify for the Nationwide £50 thank you payment, the criteria are simple but specific. The initiative aims to recognise members who have maintained a financial relationship with the society as of late September 2024 and who continue to do so today.
Who is Eligible for Nationwide’s £50 Thank You Payment?
To receive the £50 payment, customers must meet the following conditions:
- Held a current account, savings account or mortgage with Nationwide on or before 30 September 2024
- Continue to hold that account at the time of the payment
- Carried out at least one transaction or maintained a balance of at least £100 across their accounts or mortgage in the 12 months leading up to the cut-off date
Customers who completed a switch to a Nationwide current account via the Current Account Switch Service (CASS) between 1 July and 20 September 2024 also qualify for the payment.
Nationwide Begins Sending Out Payments
Nationwide has already started processing payments to qualifying customers. One message sent to recipients reads: “Good news – we’re pleased to let you know that £50 has been paid into your account.”
Those who believe they qualify but have not received any communication from the society by 20 March 2025 should check that their contact details are up to date. This can be done via the Nationwide internet bank or mobile banking app.
There is also a chance that your payment is being sent by post, especially if Nationwide’s records show you are no longer a UK resident.
“We’ve started making the payments. If you’re eligible, we’ll make the payment into your current account or savings account by 30 April. If we’re making the payment by cheque, we’ll send it by 14 May. We can’t tell you when you’ll get the payment within that time period and we can’t change when it gets paid.”
What to Do if You Haven’t Received Your Payment
If you haven’t received the payment after the deadlines mentioned, Nationwide advises contacting their support team. This can be done through the internet bank, mobile app chat, or in-branch visit.
“If after these dates you’ve not received your payment, please contact us. You will need to log in to the internet bank or banking app to chat with us or visit one of our branches. We may need you to confirm your identity.”
For those receiving a cheque, you must get in touch with Nationwide no later than 1 January 2026 to confirm your details and ensure the payment is sent to the correct address.
