Nationwide Fairer Share: Free £100 bonus confirmed for 2025 – here's who will get it

A total of £400 million will be paid to four million customers, after the building society announced profits of £2.3 billion for the year up to 31 March 2025. This is the third year in a row that Nationwide has given out the bonus – last year, it paid out a total of £385 million to 3.85 million customers.

Here's who will get the £100 Nationwide payment

As was the case in 2023 and 2024, not all Nationwide customers will get the payment. Here's the qualifying criteria:

1. Firstly, you must have had an open Nationwide current account on 31 March 2025.
   
   AND…
   

2. Secondly, you must have used your current account within the first three months of the year. What counts here depends on which current account you have.

   Account	What counts
   FlexAccount, FlexBasic or FlexDirect	EITHER... In two of the first three months of this year, you paid IN at least £500 (this could have been your salary, for example) AND made two payments OUT of your account; OR... In two of the first three months of the year, you made 10+ payments OUT of your account; OR... Between 1 January and 31 March 2025, you completed a full current account switch to Nationwide.
   FlexOne, FlexGraduate or FlexStudent	EITHER... Made a payment IN or OUT of your account in March 2025; OR... Completed a full current account switch to Nationwide FlexOne or FlexStudent (not FlexGraduate) between 1 January and 31 March 2025.
   FlexPlus packaged account	Just paying the fee counts.

   Payments OUT can include debit card transactions, Direct Debits, bank transfers and standing orders (but not transfers to other Nationwide accounts you have).

   AND...

3. Finally, you must have had at least £100 in savings with Nationwide at the end of any day in March 2025, OR owed at least £100 on a Nationwide mortgage on 31 March 2025.

If you're eligible, you should have received an email or letter by Friday 30 May letting you know. If you haven't, you can check by logging onto online banking, using Nationwide's eligibility checker or asking on its live chat.

'Thanks for the heads-up, MSE'

Earlier this year, we shared our tips to help you maximise your chances of getting the payment. The criteria (set out above) is exactly as we expected – and several MoneySavers who successfully followed our guidance have qualified for the bonus:

If you qualify, you'll get the payment automatically – watch out for scams asking you to apply

The money will be paid directly into your Nationwide current account between Wednesday 18 June and Friday 4 July and will appear on your statement as 'Nationwide Fairer Share Payment'.

If you close your account before the £100 is paid, and you don't have another Nationwide current account, you won't be eligible to receive the reward, as Nationwide says it won't make the payment any other way.

Watch out for scams inviting you to claim or apply for the payment or asking you to hand over your personal details.

Any payment will be treated as savings income for tax purposes

The £100 payment is taxable savings income, which will be treated in the same way as any interest you earn on your savings account or current account.

Most people won't have to pay tax on the reward, thanks to the personal savings allowance that allows basic-rate taxpayers to earn up to £1,000 a year from savings tax-free. But if you're a higher-rate taxpayer and/or you have a substantial amount in non-ISA savings, you may have to pay tax on the £100 bonus.

For those who don't file self-assessment returns to pay their taxes each year (which is most people), then you won't need to do anything as Nationwide will report the bonus to HMRC automatically for you. However, if you do pay tax through the self-assessment system, you will need to include any payment in your tax return.

Watch Martin's savings interest video for full details on who pays savings tax, how you pay it if you owe it and, crucially, how to (legally) reduce the amount of tax you pay.

On Universal Credit? Check if you need to report the payment

The Department for Work and Pensions told us that, for the purposes of working out your Universal Credit entitlement, the £100 payment would be treated as 'capital' (in other words, savings).

Under Universal Credit rules, you can have up to £6,000 in savings or other capital without this affecting your benefit entitlement (if you live with your partner, bear in mind their savings also count towards this total).

This means you only need to report the £100 payment if it has taken you over the £6,000 total limit. For more on this, see our Universal Credit guide.

Nationwide has also launched a £200 bank switch bonus and 5% savings for existing customers

In addition to the Fairer Share payment, Nationwide is also offering existing customers:

• A free £200 to switch a non-Nationwide current account to either a FlexPlus, FlexDirect or FlexAccount. If you have one of these already, you can request the switch from the other account through your Nationwide online banking. If you don't, you can open one and request the switch as part of the application process. To get the cash, you must:
  - Have had a Nationwide current account, savings account or mortgage on 31 March 2025. There are a few limited exclusions – for more info, see the full terms (opens as a PDF).
  - Complete a full switch from another provider using the Current Account Switch Service.
  - Transfer two or more Direct Debits as part of the switch.
  - Pay in £1,000 or more AND make one debit card payment within 31 days of opening the account or applying the switch to an existing account.

• A fixed-rate savings account paying 5% on up to £10,000 for 18 months. This beats the current top one-year and two-year fixes, which pay up to 4.45% and 4.44% respectively.
  
  The fixed-rate saver is available to anyone who had a Nationwide current account, savings account or mortgage account on 28 May 2025 (and still has one at the time of applying for the new savings account).