Nationwide £100 Fairer Share Payout: Martin Lewis’ Tips for Maximizing Your Bonus
If you’re a Nationwide customer, you could be in line to receive a £100 bonus through the Fairer Share scheme, but you’ll need to follow a few simple steps to increase your chances of qualifying. The MoneySavingExpert founder, Martin Lewis, has outlined how you can make the most of this opportunity, which has been rewarding loyal customers with cash payouts for the past two years.
The Fairer Share scheme was introduced by Nationwide to reward its most loyal customers. Over the past two years, it has provided millions of customers with £100. In 2024, the payout totaled £385 million for 3.85 million members, while the year before, £340 million was distributed to 3.4 million customers. The scheme typically runs in the first three months of the year, with announcements made in May and payments arriving in June. While there’s no guarantee that this pattern will continue, Martin Lewis suggests that customers who meet the criteria should still follow a few guidelines to maximize their chances.
Key Steps to Qualify for the £100 Bonus
To be in with a chance of receiving the £100 payout, NW customers should focus on the following key requirements:
- Don’t Close Your Nationwide Account
It might sound obvious, but one of the most important steps is to keep your Nationwide current account open until at least March 31, 2025. Closing your account before this date could disqualify you from receiving the bonus, so it’s crucial to maintain your account throughout the qualifying period. - Ensure Account Activity
Nationwide wants to reward customers who are active with their accounts. For customers with a FlexAccount, FlexBasic, or FlexDirect account, you need to pay in at least £500 into your account and make two payments out of the account in two separate months. Alternatively, making 10 or more payments from your account in two of the first three months of the year will likely boost your chances of qualifying.For customers with a FlexPlus account, the criteria are simpler – just paying the monthly fee will likely meet the requirements. For FlexOne, FlexGraduate, and FlexStudent accounts, making any payment into or out of your account in March 2025 will suffice. - Maintain Savings or Mortgage
You must have at least £100 in savings with Nationwide or owe at least £100 on a Nationwide mortgage by March 2025 to qualify for the £100 Fairer Share payout. This is a straightforward requirement, so if you don’t meet this condition yet, now is a good time to transfer some funds into your Nationwide savings account or make sure you’re on track with your mortgage payments.
Additional Opportunities for Non-Nationwide Customers
If you’re not currently a Nationwide customer, you could still qualify for a £100 bonus by switching to one of their accounts. Martin Lewis highlights the offer for customers who switch to the Nationwide FlexDirect account by March 31, 2025. By using the Current Account Switch Service, you could receive a £175 incentive just for switching, in addition to the £100 Fairer Share bonus.
To qualify, you will need to:
- Open a Nationwide FlexDirect account by the end of March 2025.
- Pay in £100 into a NW savings account or owe at least £100 on a Nationwide mortgage by March 2025.
Not only would you be eligible for both the £100 bonus and the £175 switching bonus, but you would also benefit from 5% interest on up to £1,500 held in the account, as well as up to £5 a month cashback on debit card spending for a year.
Conclusion
NW’s Fairer Share scheme is a great opportunity for customers to earn a £100 payout, and following these simple tips can help ensure you qualify for the bonus. Whether you’re an existing customer or looking to switch to Nationwide, it’s important to meet the activity and savings requirements to boost your chances. Keep an eye out for further announcements in May, but in the meantime, make sure your account is active and meets all the criteria to get that £100 in your account.
