How to Get Nationwide Bonus Payment: Everything You Need to Know About the £50 Reward

Nationwide Building Society is handing out £50 ($63) to over 12 million customers as part of a £600 million ($760 million) giveaway branded 'The Big Nationwide Thank You'. The UK's largest mutual announced the move on 7 April 2025, with payments set to land directly in members' bank accounts—no major catches, just a few conditions.

The one-off bonus comes in the wake of Nationwide's £2.8 billion ($3.5 billion) acquisition of Virgin Money in October 2024, and is being framed as a gesture of appreciation to loyal members. But who qualifies for the payout—and how do you make sure you don't miss out?

Who Qualifies for the £50 Bonus?

Not everyone with a Nationwide account gets a golden ticket. To pocket the £50 ($63), you need to tick a few boxes as of 30 September 2024. First, you must be a 'member'—that means holding a Nationwide current account, savings account, or residential mortgage in your name.

Got a personal loan or credit card instead? Sorry, those don't count. Here's the nitty-gritty, straight from Nationwide's announcement:

• Activity Check: You must have had at least one payment in or out of your current or savings account between 1 October 2023 and 30 September 2024—think card purchases, Direct Debits, or even a deposit. Transfers between Nationwide accounts work too. Alternatively, you just needed a balance of £100 ($127) or more in your account—or owed at least £100 ($127) on your mortgage—during that window.
• Still a Member: Your qualifying account must still be open when the payment rolls out in April 2025. Quit Nationwide last month? You're out of luck.
• Exclusions: If you only run an account for someone else (like a trust) or hold a business account as a limited company, you're not eligible. Sole traders, though, can count their business savings toward the £100 ($127) threshold.

Nationwide's CEO Debbie Crosbie said on 7 April 2025, 'This recognises the role our members played in building the financial strength that made the Virgin Money deal possible.' Over 12 million qualify—check your status via Nationwide's online banking portal if you're unsure.

When and How Will You Get Paid?

Mark your calendar: payments start dropping from 9 April 2025 and wrap up by 30 April 2025. No need to apply—it's automatic if you're eligible. How you get the cash depends on your account type:

• Current or Savings Account Holders: The £50 ($63) hits your account directly, appearing as 'The Big Nationwide Thank You' on your statement.
• Mortgage-Only Customers: It'll land in the account you use for your Direct Debit, as long as it's in your name.
• ISA or Bond Holders: Expect a cheque in the post by 14 May 2025, sent to your registered address—so keep it updated.

Most won't owe tax thanks to the £1,000 ($1,275) personal savings allowance for basic-rate taxpayers, but self-assessment filers should log it. Mortgage-only folks? Nationwide's still clarifying the tax status—stay tuned.

Boost Your Chances—and What's Next?

Missed the cut-off? There's still hope. Nationwide's hinted at future perks, like its £100 ($127) Fairer Share scheme, which paid out £385 million ($490 million) in 2024 to 3.85 million members.

To max your odds for that, keep a current account active with £500 ($637) monthly deposits and a savings account or mortgage with £100 ($127) minimums by March 2025. Newbies can also grab a £175 ($223) switching bonus until 31 May 2025—switch from a non-Nationwide account with two Direct Debits, and pay in £1,000 ($1,274) within 31 days.

This £50 ($63) reward isn't just a thank-you—it's a flex of Nationwide's post-Virgin Money muscle, now the UK's second-biggest mortgage and savings provider.