The banking group has sought to clarify the issue after the member of public made a query on social media
Nationwide Building Society has shed light on the rules around its bonus payouts for members as the extra cash will soon be landing in accounts.
The update came after a member asked a question on social media, reports LiverpoolEcho.
They said: “I’m curious, my sister received another £100 member bonus a couple of weeks [ago], not that long after the £50, which she and I both received too. I didn’t get the £100? Why is that?”
READ MORE: Nationwide issues update on £200 payments and who can expect to be paid
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Nationwide recently completed paying over 12 million members a £50 thank you bonus after their successful buyout of Virgin Money.
The group has now told members they’ll be handing out another instalment of its Fairer Share Payment, designed to share profits amongst its members.
More than four million people will receive the £100 payment.
In reply to the question, Nationwide queried which £100 payment they were referring to, since the Fairer Share Payment hasn’t yet been dispensed.
Clarifying the matter, the customer said that their sister had been informed via email that she would be getting the £100.
Nationwide said in the email that this would be going out between June 18 and July 4. The person explained: “I’ve not had the email so I’m wondering if it’s only selected members getting the fair share payment?”
Nationwide responded to this to set out the rules: “Yes, that’s the Fairer Share Payment, she received the email because she qualifies. You need to be eligible by meeting all the criteria to receive the payment.” Additionally, the society directed the individual to its website for further details on the eligibility requirements for the £100 bonus.
Information on the Nationwide website explains that cash payouts are to go out between June 18 and July 4, and will go into Nationwide current accounts. To get the bonus money, customers must have held a qualifying current account alongside either a qualifying savings account or mortgage during specific dates.
The building society’s website clarifies how recipients will receive their funds, saying: “We will pay the money into your Nationwide current account by electronic transfer. If you hold more than one current account with us, we may pay the money into any of those accounts.
“We will pay the money into an account in your sole name if you have one and will pay it into a joint account if you do not.” Members may also qualify for a £200 bonus if switching over to Nationwide from another bank.
To get the cash, you need to have had an eligible Nationwide mortgage, savings, or current account as of March 31. These can be either individual or joint accounts.
You need to complete the switch using the online Current Account Switch Service, moving funds from a non-Nationwide current account to either a new or existing FlexPlus, FlexDirect, or FlexAccount with Nationwide.
