£100 payment - Nationwide Fairer Share

GaleSF63

TheBanker said:

It is however still worth complaining, as an increase in complaints may prompt a re-think about the criteria used in future.

I expect if they do it again the criteria will be different anyway. They have a history of making things complicated so people can't anticipate their conditions. I remember vaguely when they changed the rules so no new members would qualify for a windfall if they became a bank. There were other conditions as well. In spite of having had a current account and savings for at least 10 years then, there was something I changed later that made me think (too late) I might no longer be eligible but it was too convoluted or vague for me to work out so I still don't know.

kaMelo

GaleSF63 said:

TheBanker said:

It is however still worth complaining, as an increase in complaints may prompt a re-think about the criteria used in future.

I expect if they do it again the criteria will be different anyway. They have a history of making things complicated so people can't anticipate their conditions. I remember vaguely when they changed the rules so no new members would qualify for a windfall if they became a bank. There were other conditions as well. In spite of having had a current account and savings for at least 10 years then, there was something I changed later that made me think (too late) I might no longer be eligible but it was too convoluted or vague for me to work out so I still don't know.

Regarding demutualisation the rules are very simple. Charitable assignment applies to ever member unless;

You were a member before Nov 1997 and have retained continuous membership ever since.
Or,
You fall into a special category of people where Nationwide deem charitable assignment would be inappropriate (whatever that means)

wiseonesomeofthetime

I wonder how many of the posters who have said that they will leave Nationwide,due to this scheme, actually will 🤔

After all, to still be with them in the first place suggests an affinity to the society imo 🤝

I am fortunate enough to be receiving this payout, however, by no stretch of the imagination can Nationwide be deemed my "main account". I have double digits of current accounts and savings accounts, each with their own definitive purpose 🤷‍♂️

Had it not been for the supermarket spend promotion, I would have missed out due not meeting spend criteria 🛒

Will be interesting to see what retrospective criteria will be used in any future "Fairer Share" payouts 💷

freesha

Maiziex said:

Both me and my husband got a letter from nationwide about the £100 payment.
As we have a joint current account and joint savings assumed we would receive 1 payment 🙂

Same! Was delighted to even get one, but one each - just in time for holiday!

TheBanker

wiseonesomeofthetime said:

I wonder how many of the posters who have said that they will leave Nationwide,due to this scheme, actually will 🤔

After all, to still be with them in the first place suggests an affinity to the society imo 🤝

I am fortunate enough to be receiving this payout, however, by no stretch of the imagination can Nationwide be deemed my "main account". I have double digits of current accounts and savings accounts, each with their own definitive purpose 🤷‍♂️

Had it not been for the supermarket spend promotion, I would have missed out due not meeting spend criteria 🛒

Will be interesting to see what retrospective criteria will be used in any future "Fairer Share" payouts 💷

I cannot really leave until mid 2025, as I have a fixed rate mortgage. I assume there are savers with fixed rate products in a similar position. Until then I've shown my protest by withdrawing all but 1p from my current and savings accounts. 

roddydogs

You could have opened a C/A And just left £1 in it!

oap71

Thanks, so 30 years loyalty doesnt count , yet in the past when a wanted a loan was told as a loyal customer we can help. ***** Liars!.

I can play the loyalty game so I'll move bank and get a cash back.

Section62

roddydogs said:

You could have opened a C/A And just left £1 in it!

It would be a good idea to read the T&C's for the eligibility criteria...

A current account with £1 in it wouldn't help.

TheBanker

roddydogs said:

You could have opened a C/A And just left £1 in it!

If that was directed at me, I have a current account. The problem is that although I paid in over £1,500 between January and March I did not meet the 'deposit £500 in two out of three months' criteria. 

freesha

TheBanker said:

wiseonesomeofthetime said:

I wonder how many of the posters who have said that they will leave Nationwide,due to this scheme, actually will 🤔

After all, to still be with them in the first place suggests an affinity to the society imo 🤝

I am fortunate enough to be receiving this payout, however, by no stretch of the imagination can Nationwide be deemed my "main account". I have double digits of current accounts and savings accounts, each with their own definitive purpose 🤷‍♂️

Had it not been for the supermarket spend promotion, I would have missed out due not meeting spend criteria 🛒

Will be interesting to see what retrospective criteria will be used in any future "Fairer Share" payouts 💷

I cannot really leave until mid 2025, as I have a fixed rate mortgage. I assume there are savers with fixed rate products in a similar position. Until then I've shown my protest by withdrawing all but 1p from my current and savings accounts. 

That'll show 'em!