Millions of Nationwide customers to get free payment into bank in weeks

The weather is finally getting nicer, the beer gardens seem to be calling our names and the group chats are making as many plans to get outside as possible.

But with our social lives kicking into action again, the strain on our bank accounts also seems to ramp up. I mean, let’s not even mention the recent hike in prices on various things in the UK.

So, it’s fair to say we’d all be grateful for a little extra pocket money right now. And while that might be a bit of a dream for plenty of Brits, there’s a lucky lot about to get a sneaky payday.

Yep, if you bank with Nationwide then you’re set to get a free payment into your bank within weeks.

Eligible Nationwide members are getting a tidy 50 quid (Getty Stock Image)

The building society is giving its 12.3 million customers a little gift of £50 to thank them ‘for enabling the successful purchase of Virgin Money’.

It’s been dubbed the ‘Big Nationwide Thank You’ and is a separate payment to its annual Fairer Share Payment which last year rewarded members with £100.

It explained that last year’s acquisition of Virgin Money was a result of its financial strength ‘which its members have helped build’.

This takeover was led by the UK’s best-known female banker, Debbie Crosbie, who has previously been labelled as one of the 50 most influential women in the world.

The Nationwide CEO said: “Nationwide became even stronger when it bought Virgin Money and we are already improving services for its customers. The Big Nationwide Thank You recognises the role our members played in building the financial strength that made the deal possible. It’s another of the very real benefits of being a member of Nationwide and our modern mutual model.”

The payment will be made to millions (Vuk Valcic/SOPA Images/LightRocket via Getty Images)

After acquiring Virgin Money, the banking provider recently revealed it had become the UK’s top lender for first-time buyers.

These £50 ‘Thank You’ payments are going to be made across the country from 9 April with members being written to by Nationwide from today (11 March) informing them of the details.

The over 12 million members who will qualify for the payment will have had a savings or current account, or mortage with the bank at the end of last September.

Plus: “They must also have made at least one transaction on their current account or savings or had a balance of at least £100 in their current account, savings or mortgage in the 12 months to the end of September 2024.

“They must also still have their accounts or mortgage at the time the payment is made.”