Millions of Nationwide Building Society customers in the UK are about to receive £100 in free cash. This is part of the building society’s Fairer Share programme, which rewards loyal customers who meet specific banking or lending criteria.

An estimated four million members will benefit from the £410 million payout.

The £100 payment will be made directly into qualifying customers’ Nationwide current accounts between June 18 and July 4, 2025.

To be eligible, you must have opened a main current account with Nationwide by March 31, 2025. You also needed to have either £100 in savings or £100 outstanding on a mortgage by that date.

In addition, you must have used your account during the first three months of the year.

Debbie Crosbie, Chief Executive of Nationwide, said:

“Nationwide has had an outstanding twelve months. We returned a record £2.8 billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances, and we remain first for customer service.”

This is the third consecutive year that Nationwide has made such a payment. In 2024, £385 million was shared among 3.85 million customers. In 2023, £340 million was paid to 3.4 million people.

This year’s £100 payout is separate from the £50 that was issued to around 12 million members between April 9 and May 14, 2025.

If you’re not a Nationwide customer, you won’t receive this payment. However, you can still open an account to be eligible for future offers.

Nationwide has also launched a £200 switching offer for those who sign up for its new fixed-rate Member Inclusive Bond. The bond is available online, in-branch, or through the app.

For example, someone saving the full £10,000 allowance into the bond would earn £762.50 in interest over 18 months. That’s more than £150 above the return offered by Nationwide’s next highest-rate bond.

Other banks are offering similar deals. TSB is currently giving new customers £100 when they switch, along with £15 cashback each month (up to £90) for using their debit card 20 times monthly over six months.

Switching banks is easier than ever with the Current Account Switch Service (CASS), which takes just seven working days. All direct debits and payments are moved automatically, and your old bank is notified for you. You don’t need to worry about missed payments.

Before switching, take time to compare perks such as interest rates, overdraft terms, and extras like free insurance. Some accounts come with fees, so it’s important to weigh the benefits. (The Sun)