Nationwide Building Society has issued a fresh warning to millions of its customers, urging anyone who received their £50 “Big Nationwide Thank You” payment by cheque to act quickly.
With less than three weeks left before the cut-off date, the building society is reminding members that unbanked cheques will become invalid after 1 January 2026.
The £50 bonus was part of Nationwide’s well-publicised reward scheme linked to its high-profile acquisition of Virgin Money.
More than 12 million members qualified for the payout, which was introduced to thank customers for their loyalty and for helping the society build the financial strength needed to complete the takeover.
Nationwide confirmed that every payment has now been sent out, but the final responsibility lies with customers to ensure any cheques are deposited before the new year deadline.
The building society said: “On 1 October 2024, we completed the purchase of Virgin Money, becoming an even stronger force in UK banking. This was made possible by the financial strength Nationwide members helped us build.
“To say thank you, we’ve given over 12 million of our members £50 each as part of The Big Nationwide Thank You. Over £600 million in total.”
Who is eligible for Nationwide’s £50 reward?
To qualify, customers needed to be a Nationwide member on 30 September 2024 and still a member when the payment was issued. On top of that, they needed to meet at least one of the following requirements between October 2023 and September 2024:
- Made at least one qualifying transaction on a Nationwide current or savings account
- Held at least £100 across Nationwide current or savings accounts
- Owed at least £100 on a Nationwide residential mortgage
People who switched to a Nationwide current account between 1 July and 30 September 2024 using the Current Account Switch Service also qualified.
These criteria ensured that both long-time and newer customers benefited from the scheme.
How does the £50 get paid?
Nationwide paid most customers directly into their:
- Current accounts
- Instant access savings accounts
- Limited-access savings accounts
For people with a Nationwide mortgage, the £50 was deposited into the bank account used for their Direct Debit, as long as the account was in their name.
Everyone else received a physical cheque; this is the group now facing the fast-approaching deadline.
If these cheques are not banked by 1 January 2026, the £50 payment will be forfeited.
Missing the £50 Payment?
Nationwide says it has already contacted all eligible members. However, if you believe you met the criteria and didn’t receive the £50, the building society advises customers to get in touch or check through their online banking channels.
With the deadline creeping closer, Nationwide is encouraging customers not to leave their cheque in a drawer or forget to pay it in during the Christmas and New Year period. Once the date passes, the opportunity to claim the money is gone for good.
For millions of Nationwide customers, the £50 was a pleasant surprise. But for anyone still holding an uncashed cheque, this is the final nudge: bank it, or you’ll lose it.
