Nationwide gives major update on 2025 bonus payment

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Landwide gave an update on a upcoming £ 50 bonus payment, which, according to the Building Association, is “a thank you” to its millions of members.

‘The Big Nationwide Thank You’ comes after the bank giant bought Virgin Money UK in October, increasing its accounts by £ 2.3bn.

Nationwide has now confirmed that 12 million qualifying customers will receive their £ 50 within a few weeks, by April 30, 2025. It will distribute more than £ 600m in total.

At the end of September, the payments went to members who had a savings or current account or mortgage. They must also have a payment in or from their current account or savings, or have a balance of at least £ 100, the company said.

Nationwide is now the country's second largest provider of mortgage loans and savings accounts — Nationwide is now the country’s second largest provider of mortgage loans and savings accounts (Getty Images)

The Building Society said in November that Virgin Money, who bought it last month, is worth more than the £ 2.8bn price.

At the time of the agreement, CEO Debbie Crosbie said the benefits would improve for clients.

The buyout has been the largest banking agreement since the financial crisis. After the agreement, Nationwide is the country’s second largest provider of mortgage loans and savings accounts.

When he bought the money shooter, Nationwide also has Virgin Money’s plans to close some of its branches, as part of a promise not to leave a city or city where there is currently a branch to at least 2028.

Sir Keir Starmer meets DEBBIE CROSBIE, CEO of the nationwide, during the visit to the BUILDING SOCIETY BUILDING Society (Via Reuters)

Nationwide CEO Debbie Crosbie said: “Nationwide has grown even stronger when it bought Virgin Money and we are already improving services for his clients.

“The Great Nationwide thanks the role our members played to build the financial power that made the agreement possible.”

Nationwide, the world’s largest building association is linked to one in three households in the UK, manages one in ten running accounts and has over 25,000 employees and over 700 branches.

This new payment is the latest in a series of moves from nationwide to return value to its members, after a payment of £ 100 to nearly 4 million members in 2023 and 2024.

Since April 2023, it has returned more than £ 3.5bn to member value, including £ 729m through its nationwide fair share payment.

The ‘thank you’ payment is separate to the ‘Fairer Share’ payment scheme, which from time to time returns some of its profits to members. Ms Crosbie confirmed that she intended to reinstate the payment later this year, subject to financial performance. In preparation, savings are advised to maximize their chances, just a few easy steps.

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